Distribution Agreement to Enhance Recently Issued Fiscal 2008 Revenue Guidance of $23.5 Million for Titan’s Wireless Division
Sep 07, 2007 - Titan Global Holdings, Inc. (OTCBB:TTGL), a high growth diversified holding company, today announced that Titan Wireless, a division of Titan Communications, entered into a wireless sales distribution agreement with Road Ranger Travel Centers to expand the Company's nationwide distribution system by an additional 25 locations in the Midwest. The agreement further validates the Company's high-growth business model focused on generating revenues from trusted wireless brand products through a retail distribution system that reaches more than 65,000 locations.
Titan Wireless, through its well-known brands Ready Mobile, Mojo Mobile, Picante Movil and Bravo, is a leading provider of cost effective prepaid wireless offerings through its mobile virtual network operator (MVNO) agreement with Sprint PCS. Titan Wireless completed its purchase of the assets of Ready Mobile, LLC, a national Sprint MVNO generating $12 million in annual revenues in May 2007.
Earlier this week Titan issued revenue guidance for fiscal 2008. Titan Wireless is expected to contribute $23.5 million to Titan's stated overall revenue guidance of $747 Million for fiscal 2008.
"We weighed several options for creating a competitive mix of prepaid wireless handsets for our customers," said Doug Parker, Senior Director of Marketing for Road Ranger. "Approximately one third of our locations are travel centers and we have several stores that are on or near a college campus. We felt Titan Wireless offered the most flexible program to address the calling needs for different consumers."
"We are excited to provide prepaid wireless solutions to Road Ranger," said Dennis Henderson, President of Titan Wireless. "Our handset offerings and rate plans are ideally positioned to allow Road Ranger to offer its customers an outstanding value. We look forward to being a significant partner for Doug and his team as they continue to drive revenues and profits in the vibrant prepaid category."
"Dennis and his team continue to demonstrate the value proposition of Titan Global Holdings," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Our business unit leaders continue to position the company for success in the markets we serve. We eagerly look forward to the additions of Appalachian Oil Company and USA Detergents as well. We will continue to add value with our existing growing businesses and new acquisitions."
Titan owns or manages more than 100 trusted brands that are distributed through efficient, overlapping and expansive distribution channels. Titan's distribution channels reach over 65,000 retail locations throughout the United States and in over 200 countries around the world. To manage this vast and growing number of well-known brands, Titan has formed Titan Global Brands to integrate, protect and expand brand management capabilities and to leverage and optimize growth from the Company's distribution channels.
About Titan Global Holdings
Titan Global Holdings, Inc. 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.
Titan's Oblio Telecom Inc. ("Oblio") telecommunications subsidiary, based in Richardson, Texas, is a market leader in prepaid telecommunications products and the second largest publicly-owned international telecommunications company focused on the prepaid space. Oblio leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3 to supply its brand-name prepaid calling cards. Annually Oblio sells an estimated 35 million of its brand-name prepaid calling cards through its established distribution channels estimated at more than 60,000 retail outlets.
Titan Wireless, Inc. ("T Wireless") is Titan's wireless subsidiary and is a mobile virtual network operator ("MVNO"). T Wireless sells its MVNO prepaid wireless products and wireless services through Oblio's established distribution channels. Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide commercial production runs and quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and high-tech clients.
For more information, please visit: www.titanglobalholdings.com. For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/titan/ or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0. To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/titan/quote.html. To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/titan/factsheet.html.
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation 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 rate 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.
