Board of Directors Continue to Cite Attractive Share Price and Company's Plan to Decrease Share Supply
January 11, 2008
Titan Global Holdings, Inc. ("Titan") (OTCBB: TTGL), a high-growth diversified holding company, reported today on the Company's previously announced 4 million share open market buy back plan. As of today, the Company has repurchased 1,178,557 shares of its common stock in the open market at an average of $1.37 per share.
In explaining its decision and the buy back plan in May, 2007, Titan's Board of Directors cited its attractive share price, reported record financial results and strategic progress from its various business units. The management, directors, and strategic investors of Titan continue to increase their ownership, which was already approximately 75% of the common stock issued and outstanding shares prior to the announcement of the commencement of the buy back plan on May 9, 2007.
"Titan's management, directors, and strategic investors view our share price as an exceptional value proposition given it is trading at approximately 50% below our 52 week high," said David Marks, Chairman of Titan Global Holdings. "As recently as November, 2007, we raised equity at $2 per share. Therefore, today, we were able to retire our shares for about one half of our recent equity raise. We intend to make additional open market purchases."
As of December 31, 2007, Titan had in excess of 2,000 shareholders. On January 9, 2008 Titan's stock closed at $0.94 per share. Titan's stock reached its 52 week high of $2.35 per share on October 18, 2007.
"We intend to take advantage of our attractive current share price and will continue such purchases with the resulting decrease in the Company's public float," said Bryan Chance, Chief Executive Officer of Titan Global Holdings.
Titan has made these purchases consistent with SEC regulations. These purchases will be reported in Titan's Form 10-QSB and Form 10-KSB filed with SEC.
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.
