Titan Mining Corporation Achieves Significant Debt Reduction
GOUVERNEUR, N.Y., Jan. 5, 2026 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI, NYSE-A:TII), a leading zinc concentrate producer in upstate New York and an emerging natural flake graphite producer, has successfully made its final scheduled payment of $5.2 million to extinguish its credit facility with the National Bank of Canada. This crucial step in debt repayment, along with a previously announced $15 million equity financing, has substantially bolstered the Company's balance sheet.
Financial Strengthening and Net Debt Reduction
As a result of the recent repayment and successful equity financing, Titan Mining has reduced its net debt by approximately 60%, decreasing it from $25.1 million as of September 30, 2025, to approximately $9.5 million as of December 31, 2025. The remaining debt is predominantly held by long-term strategic stakeholders, which positions Titan more favorably for future growth.
Leadership Perspective
Rita Adiani, President and Chief Executive Officer of Titan Mining, emphasized the importance of this financial milestone: “This meaningful reduction in debt significantly strengthens our balance sheet and enhances our capacity to advance the next phase of our U.S. graphite strategy. With increased financial flexibility, we are better positioned to support graphite development activities alongside our existing operations, while maintaining disciplined capital allocation.”
Understanding Titan's Net Debt Calculation
The Company's net debt is calculated as the sum of the current and non-current portions of long-term debt, net of cash and cash equivalents at the reported dates. Below is the reconciliation of net debt in millions of dollars:
- As of December 31, 2025 (Estimate)
- Current portion of debt: $9.9 million
- Non-current portion of debt: $17.1 million
- Total debt: $27.0 million
- Less: Cash and cash equivalents: ($17.5 million)
- Net debt: $9.5 million
- As of September 30, 2025 (Actual)
- Current portion of debt: $7.6 million
- Non-current portion of debt: $21.8 million
- Total debt: $29.4 million
- Less: Cash and cash equivalents: ($4.3 million)
- Net debt: $25.1 million
It is important to note that net debt is a non-GAAP measure and may not be comparable to similar financial measures disclosed by other issuers.
Upcoming Reports and Financial Transparency
Titan Mining will release its Q4 2025 and audited annual financial results for 2025 in March 2025, reflecting a commitment to maintaining transparency with its investors.
About Titan Mining Corporation
Titan Mining Corporation, part of the Augusta Group, operates the 100%-owned Empire State Mine in New York state, producing zinc concentrate and targeting to become the U.S.'s first complete producer of natural flake graphite in 70 years. Titan is dedicated to generating shareholder value through effective operational execution, exploration, and development of critical minerals assets that enhance the domestic supply chain.
Contact Information
For further inquiries, please reach out to:
- Irina Kuznetsova, Director of Investor Relations
- Phone: (778) 870-7735
- Email: info@titanminingcorp.com
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements regarding Titan Mining's operational strategies, financial expectations, and future activities. While the Company believes these expectations to be reasonable, they are inherently subject to uncertainties and risks that may lead to actual outcomes differing materially. Factors influencing such differences include fluctuations in commodity prices, regulatory changes, and operational challenges.