Titanium Transportation Group Inc.

Titanium Transportation Group Inc.

July 17, 2015 07:30 ET

Titanium Annual General Meeting Update

WOODBRIDGE, ONTARIO--(Marketwired - July 17, 2015) - Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX VENTURE:TTR) is pleased to announce that the Company provided an historical review of the Company's strategy and operations to its shareholders following its Annual General Meeting ("AGM") held on July 15, 2015. Highlights include:

  • The Company has experienced growth in revenue from $12.9 million in 2010 to a current revenue run rate of $115 million
  • The Company has either received or expects to take delivery of a total of 240 new Volvo trucks in 2015 and 2016
  • The acquisition of Muskoka Transport was completed on March 1, 2015
  • Titanium has completed seven acquisitions since 2011
  • The Q1 2015 organic revenue growth rate in the logistics division is 74% year-over-year
  • The Company recently completed a $11.5 million oversubscribed bought deal financing with a syndicate of underwriters led by GMP Securities L.P. and including Cormark Securities Inc., Desjardins Securities Inc., Mackie Research Capital Corporation and Salman Partners Inc.
  • The Company's strong financial position and balance sheet

In addition, Titanium reports that, at the Meeting, all resolutions presented in the management information circular and proxy were overwhelmingly approved, which included the election of all management director nominees, the reappointment of Williams & Partners as auditors of the Company, the approval of an amended option plan, and the ratification of an amended and restated By-Law No. 1.

Titanium is also pleased to announce that it has filed additional historical supplementary quarterly financial information on SEDAR, which is available on www.sedar.com.

About Titanium

Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with 350 power units, approximately 1,100 trailers and approximately 400 employees and independent owner operators. Titanium provides truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 800 customers. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed seven asset-based trucking acquisitions since 2011. Titanium has also been ranked by PROFIT magazine as one of Canada's Fastest Growing Companies for six consecutive years.

Cautionary statement regarding forward-looking statements

Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking statements are provided for the purposes of assisting the reader in understanding Titanium's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information may relate to Titanium's future outlook and anticipated events, and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Titanium. Particularly, statements regarding the use of proceeds as well as the future results, performance, achievements, prospects or opportunities for Titanium or the industry in which it operates are forward-looking statements. In some cases, forward-looking information can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

The forward-looking statements made in this press release are dated, and relate only to events or information, as of the date of this press release. Except as specifically required by law, Titanium undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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