News:
Titan Global Provides Stock Ownership Update as Management, Directors and Strategic Investors Continue to Increase OwnershipLast update: 2/20/2007 3:30:24 AMKey Shareholders Now Control Approximately 75% of Common Stock DALLAS, Feb 20, 2007 (BUSINESS WIRE) -- Titan Global Holdings, Inc. ("Titan") (TTGL) announced that the management, directors, and strategic investors of Titan owned or controlled 74.83% of the common stock issued and outstanding shares. Including the exercise of all options and warrants outstanding, these key investors would own or control 73.12% of shares on a fully-diluted basis. "Titan's management, directors, and strategic investors continue to view our current share price as a compelling value proposition," said David Marks, Chairman of Titan Global Holdings. "Therefore, from time to time, these parties have and may make additional open market purchases consistent with SEC rules." As of today, Titan has 49,129,052 shares of common stock outstanding and 65,351,302 shares outstanding on a fully-diluted basis. The fully-diluted share count assumes all stock options and warrants are exercised and all convertible debt in the amount of $5.75 million is converted into common stock. If all warrants were exercised in cash, Titan would receive proceeds of $6.73 million. As of January 31, 2007, Titan had in excess of 2,000 shareholders. On February 16, 2007 Titan's stock closed at $1.17 per share. "In a recent review of our shareholders, I was pleased to find that a number of our shareholders have remained vested nearly as long as our investment group," said Mr. Marks. "We are also pleased by the number of new Titan shareholders. Management believes Titan is now poised to create additional shareholder value through its operating subsidiaries. Last Friday we announced our acquisition of Ready Mobile, a Sprint MVNO. We are actively exploring additional strategic combinations and structures, and the acquisition of new business units that represent a compelling value proposition for all of Titan's shareholders." The Company also provided information today with respect to Mr. Marks' compensation from Titan. The Company noted that Mr. Marks receives no compensation from Titan for his services other than customary reimbursement for his travel, lodging, and out of pocket expenses related to Titan's business and $12,000 per year as a Director. In connection with his membership on Titan's Board, Mr. Marks was previously granted individual options to purchase 100,000 shares of Titan's common stock for $0.58 per share for the first 50,000 shares and $0.79 per share for the second 50,000 shares. The Company also noted today that Frank Crivello, a strategic investor of Titan and a member of Farwell Equity Partners, individually owns 2,525,343 shares of Titan's common stock, which represents 5.14% of the shares outstanding. Mr. Crivello intends to make additional open market purchases of Titan's shares outstanding. Mr. Crivello's immediate family members owned an additional 168,000 shares of Titan's common stock, which represents 0.34% of the shares outstanding. Mr. Crivello's immediate family members may make additional open market purchases of Titan in each member's individual capacity. Mr. Crivello provides consulting services to Titan with respect to its strategic and financing opportunities without compensation other than customary reimbursement for his travel, lodging, and out of pocket expenses related to Titan's business. Mr. Crivello has never been an officer or director of Titan. "Consistent with our previously announced policy, in addition to any share ownership disclosure that is legally required by the Securities and Exchange Commission, as done here, Titan will announce from time to time the aggregate ownership of its key Management, Directors and Strategic Investors in an effort to provide complete transparency to all stockholders," said Bryan Chance, Chief Executive Officer and President of Titan Global Holdings. About Titan Global Holdings Titan Global Holdings, Inc. ("Titan") (TTGL) is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets and advanced technologies. 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: . For investor-specific information and resources, visit or . To view current stock quotes and news, visit . To view an investor fact sheet about the company, visit . 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. SOURCE: Titan Global Holdings, Inc.
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