SOURCE: Titan Global Entertainment, Inc.

November 16, 2006 09:00 ET

Titan Global Announces Business Units and Advisory Boards

Creating Management Segment Focus and Market Leadership Support in Implementing the Company's Strategic Business Plan

MIAMI, FL -- (MARKET WIRE) -- November 16, 2006 -- Titan Global Entertainment, Inc. (PINKSHEETS: TGLE) announces that in accordance with the Board of Directors approved restructure and recapitalization plans, it has split its single day-to-day operational management control into three business segments. The purpose of these segments is to segregate the day-to-day business development & product marketing with focused experienced professionals within each business segment. These segments will report to the executive committee who reports to the Board of Directors. The executive committee will be made up of the Jim B. Pugh, Chief Executive Officer, Michael Manocchio, President and Chief Operations Officer, the newly hired management personnel of the business segments and the Chief Financial Officer who is currently being recruited.

The following briefly describes the business segments.

1. Music Distribution Segment - A Universal Music Group
   distributor using both the Titan and Pyramid
   distribution
   labels.
2. U.S. Entertainment Distribution Segment - The United
   States distribution arm for U.S.-acquired media content
   to be delivered through the Company's Internet portal
   "Titan Universe."
3. International Licensing Segment - Focused on licensing
   Titan's technology to International Companies for
   co-branded delivery portals and the creation of
   International Distribution Partners of the localized
   content versions of the "Titan Universe."

In addition to the above, the Company has created three Advisory Boards that will support the Board of Directors and the segment executives in business development and product marketing. These Advisory Boards will be made up of industry leaders in their field. These Advisory Boards will be contacted as consultants without the normal responsibilities of Board of Directors members. Initially, members of these Advisory Boards will receive stock options and expense reimbursement as approved by the Board of Directors.

"The business structure adopted by Titan's Board of Directors has been extremely successful for many well known businesses. With the addition of the Advisory Boards we are confident that they will be a great benefit to the Company. We are in active discussions with both potential business segment executives and advisory members. We continue to look forward to the successful implementation of the restructure and recapitalization plans," said Jim Pugh, Co-Chairman & CEO of Titan Global Entertainment, Inc.

Titan Global Entertainment, Inc is a multi-faceted entertainment company that specializes in audio and video digital distribution through its state of the art web portal -- TitanTunes.com, the design, production and sale of four multi-media players (The Omni), traditional record production and marketing through Universal Music Group distribution, television, publishing and artist management. Titan is dedicated to supplying new emerging technologies for music to talented artists of various backgrounds on the worldwide web. www.titan-entertainment.net

Safe Harbor -- This press release includes forward-looking statements that involve risks and uncertainties, including, but not limited to, product delivery, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect Titan Global Entertainment, Inc. future results, please contact the Company directly. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially from management expectations.

Contact Information

  • Press Contact:
    Titan Global Entertainment, Inc:
    305.893.2007
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