| [May 03, 2007] |
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Titan Global Holdings Announces Relocation to Expanded Headquarters Given Period of Record Growth
RICHARDSON, Texas --(Business Wire)-- Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, announced today that the Company has relocated its headquarters to a significantly larger facility to accommodate record growth this fiscal year. The new facility expands the Communications Division's customer service capacity by more than 300%.
The expansion of facilities in Richardson, Texas, is also meant to accommodate Titan's stated strategic plan to opportunistically acquire and roll-up competitive MVNOs and other assets. Titan has and will target and pursue other MVNOs throughout 2007.
The relocation followed Titan's recently reported record financial results for the second fiscal quarter of 2007, highlighted by the Company growth in revenues to $36 million, a 38% increase over the comparable period the previous year. Titan also reported net income of $1.5 million with $8.6 million in earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter.
"We feel very confident that our new location will provide us with ample capacity for growth as we continue to expand our customer base across the country," said Bryan Chance, Chief Executive Officer of Titan Global Holdings. "Titan's new headquarters are a reflection of this unprecedented period of growth and of our ongoing commitment to doing everything we can to continue building shareholder value."
Titan capitalizes on a range of technological innovations spanning telecommunications, electronics and homeland security. Derived from internal development and strategic acquisitions, Titan delivers cost-effective, secure, and environmentally-friendly solutions for its global family of customers.
Titan's Communications Division includes Oblio Telecom, Inc., a market leader in prepaid telecommunications and the second largest publicly owned company focused on the international prepaid telecommunications space; StartTalk Inc.; Pinless, Inc.; and Titan Wireless Communications, Inc., a prepaid wireless communications and mobile virtual network operator.
Titan Global Holdings' new address and contact information is:
Titan Global Holdings, Inc.
1700 Jay Ell Drive, Suite 200
Richardson, TX 75081
Phone: 972.470.9100
Fax: 972.767.3117
About Titan Global Holdings
Titan Global Holdings, Inc. ("Titan") (OTCBB: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: 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.
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