Company Also Announced Formation of Titan Apparel to Operate under Titan Global Brands' Growing Family of Products
December 21, 2007
Titan Global Holdings, Inc. ("Titan") (OTCBB:TTGL), a high-growth diversified holding company, announced today that Titan Apparel Inc., the Company's recently formed wholly owned subsidiary, purchased the majority of all of the assets of Global Brand Marketing, Inc. (GBMI), including inventory, accounts receivable and intellectual property assets. Titan expects to aggressively and profitably market brands worldwide with high quality and well designed products supported by strong and distinct marketing strategies.
GBMI, located in Santa Barbara, CA, owns the popular brands Dry-shod, No Mass, Mehandi and Funflopps. Additionally, GBMI has been the global licensee for well-known brands Nautica, Sean John and 7ForAllMankind. GBMI operated under the banner Global Feet and sold its footwear products in 130 countries worldwide. Over its history GBMI has won dozens of footwear industry awards. Since its inception in 1996 GBMI sold over $1 billion worth of footwear.
"GBMI and its founder Killick Datta enjoyed a storied history and in the process have aggregated a highly talented and seasoned management team," said Kurt Jensen, Chairman of Titan Apparel, Inc. "We see exceptional long-term growth opportunities from this exciting new acquisition. We are looking forward to building on the past success that Killick and his team have achieved as a means to building additional value for our shareholders."
In addition to the asset purchase, Titan Apparel has hired the complete core of executives currently leading GBMI, including Killick Datta, its founder. Mr. Datta was also named President and Chief Executive Officer of Titan Apparel. Shortly after the first of the year, Mr. Datta will outline the strategic initiatives and vision for this Titan unit.
"This acquisition is consistent with our stated goal of building shareholder value through the acquisition of businesses with promising growth potential and talented management," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings.
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. The Company takes advantage of valuable synergies between its subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2007 Titan generated in excess of $111 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 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 86,000 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.
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 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 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.
