Two New Retail Locations Reflect Appco's Continued Growth as Company Executes on High-Growth Strategic Plan
June 27, 2008
Titan Global Holdings, Inc. (Pink Sheets:TTGL), a high growth diversified holding company, today announced that Appalachian Oil Company ("Appco"), a unit of the Company's energy division, has reached an agreement in principal to acquire two additional convenience and fuel distribution locations in the State of Virginia. The acquisitions raise the total number of convenience stores operated by Appco to 56, with additional locations expected over the next 24 months.
Titan achieved economies of scale and central services administrative infrastructure through its acquisition of Appco in the first quarter of fiscal year 2008. Appco's existing administrative infrastructure can support a significantly larger revenue base of operations with only modest increases in administrative costs.
"We are working with principals and major oil suppliers in our existing markets to facilitate growth opportunities," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "As well, we are in advanced discussions with other independent operators, chain operators and other parties to execute our stated vision of growing Titan's energy distribution network. Titan's Energy Division is positioned for continued growth through organic efforts and acquisitions."
Titan is in active discussions with a number of complementary businesses to Appco in markets wherein it currently has existing operations or in contiguous markets as a means to expanding the Company's distribution footprint and open significant new revenue opportunities.
Appco this week entered into third party agreements to operate retail petroleum and inside store operations at one of the locations and documentation is pending at the second location. Appco now operates 20 locations in Virginia and 56 locations in the Southeastern United States.
"We believe that these acquisitions are the first of more to come as we look to further benefit from Titan's sizable financial and professional assets," said Marty Anderson, President of Appalachian Oil Company. "We are aggressively seeking opportunities to grow organically in the markets we currently serve and look to continue to grow our distribution footprint contiguous markets as well."
Appco generated more than $400 Million in annual revenues in fiscal year 2007. Today, Appco distributes petroleum products to more than 170 dealers and operates 56 convenience store locations. Appco has more than 550 employees and maintains long-standing partnerships with strategic terminal operators and major oil companies.
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 and distribution.
Titan's operating divisions include the following:
The Titan Global Energy Division owns and operates traditional and next-generation renewable energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan's Communications Division serves the communication needs of those individuals that have emigrated from their host country to the United States or other countries and plans to addresses a range of high-growth markets in the international telecommunication segments, including communication technology, platform management, international wholesale communication and the distribution of prepaid international telecommunication products.
Titan Global Brands designs, develops, and distributes consumer products from value categories to high end branded categories, through its existing distribution channels and new ones suitable for such products. Together, it integrates, protects and expands its consumer brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels.
Titan Card Services plans to capitalize on the burgeoning multibillion-dollar international prepaid money transfer sector. Titan Card Services' proprietary technology provides for convenient and efficient international money transfers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc., Titan Electronics Inc., and NEO EMS, 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.
Trilogy Capital Partners
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