Titan Global Holdings Announces Increased Institutional Ownership with $5 Millio
“We were delighted to complete this equity raise with YA Global at $2 per share, which is above today’s market value,” said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. “This capital will be leveraged to further strengthen our balance sheet and provide us the necessary funds to exploit several already-identified organic and strategic opportunities. We also believe that this will support our pending application for admission to NASDAQ as we continue to expand the institutional ownership of our company.”
Titan recently announced the formation of Titan Global Mergers & Acquisitions (Titan M&A) to enable the Company to effectively capitalize on new strategic opportunities by centralizing and streamlining all transactional acquisition and investment flow sourced from Titan’s various divisions, strategic investors and third party agents.
“For more than two years, Titan’s management team has proven that they can achieve and maintain exceptional growth with ongoing success," said Mark A. Angelo, President of YA Global. "We believe that our $5 million investment in Titan will provide the company with the financial strength to pursue additional organic and strategic opportunities. We look forward to further expanding our relationship with Titan in the years to come.”
Titan is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy. In its last fiscal year Titan generated in excess of $109 million in revenues on a consolidated basis. The Company has issued record revenue guidance for fiscal year 2008 totaling more than $735 million with earnings projected to surpass $15 million for the same period.
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries capitalizing on multi-billion dollar worldwide markets spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through our nine wholly-owned subsidiaries, we take advantage of valuable synergies between our subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan’s operating divisions include the following:
Titan’s Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc. the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world’s largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan’s worldwide distribution channels. We own or manage more than 100 major brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan’s growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan’s Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
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Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
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