Titan Mining Completes Initial Public Offering

Titan Mining Completes Initial Public Offering

NOT FOR DISTRIBUTION IN THE UNITED STATES

VANCOUVER, British Columbia, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Titan Mining Corporation (?Titan? or the ?Company?) (TSX:TI) today announces the successful closing of its previously announced initial public offering (the ?Offering?) of 35,750,000 common shares (the ?Offered Shares?) at a price of C$1.40 per Share (?the ?Offering Price?) for total gross proceeds of C$50,050,000.  

The common shares of Titan will commence trading today on the Toronto Stock Exchange under the symbol ?TI?.

The Offering was managed by a syndicate of underwriters led by Scotia Capital Inc., Canaccord Genuity Corp., and National Bank Financial Inc. (the ?Lead Underwriters?) and included PI Financial Corp. (collectively, with the Lead Underwriters, the ?Underwriters?). In addition, the Company has granted the Underwriters an over-allotment option, exercisable in whole or in part at any time until 15 days following the closing of the Offering, to purchase from the Company up to an additional 5,362,500 common shares (being equal to 15% of the Offered Shares sold in the Offering) at the Offering Price for additional gross proceeds of C$7,507,500 (if the over-allotment option is exercised in full) solely to cover over-allotments, if any, and for market stabilization purposes.

The net proceeds realized from the Offering are expected to be used: (i) to satisfy outstanding payment obligations in respect of Titan's acquisition of all of the issued and outstanding shares of Balmat Holding Corp., (ii) to refurbish equipment and recommence operations at the Empire State Mine, (iii) for exploration and evaluation, and (iv) for general corporate purposes.

The Offering has been made only by means of a prospectus.  The prospectus contains detailed information about the securities offered.  Copies of the prospectus may be obtained from Scotia Capital Inc. in Canada, Attention: Equity Capital Markets (tel: 416-862-5837), Scotia Plaza, 64th Floor, 40 King Street West, M5H 1H1, Toronto, Ontario or from www.sedar.com. Investors should read the prospectus before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release.  The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the ?U.S. Securities Act?) or any state securities laws.  Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.  This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Titan in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Titan Mining Corporation

Titan is a Canadian-based zinc exploration and development company with its principal asset being the Empire State Mine in the State of New York. For more information on the Company, please visit our website at www.titanminingcorp.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains certain forward-looking statements, including statements with regard to the Offering, the use of proceeds from the Offering and the listing of the Offered Shares. Words such as ?expects?, ?anticipates? and ?intends? or similar expressions are intended to identify forward-looking statements.  Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, use of proceeds or timing of events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the ?Risk Factors? section and other sections of the final prospectus available at www.sedar.com. No securities regulatory authority has expressed an opinion about the securities described herein and it is an offence to claim otherwise. Titan undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contact

For further information, please contact:

Jerrold Annett ? Senior Vice President, Corporate Development
Telephone: 416-366-5678 Ext. 207 |  Email: [email protected]

Susan Muir ? Vice President, Investor Relations & Corporate Communications
Telephone: 416-366-5678 Ext. 202 |  Email: [email protected]