Titanium Transportation Group Inc.

Titanium Transportation Group Inc.

December 19, 2014 16:00 ET

Titanium Transportation Group Completes $6.7 Million Oversubscribed Private Placement Financing

WOODBRIDGE, ONTARIO--(Marketwired - Dec. 19, 2014) - Titanium Transportation Group Inc. ("Titanium") is pleased to announce that it has completed its non-brokered private placement of subscription receipts ("Subscription Receipts") for total gross proceeds of approximately $6.7 million (the "Private Placement"). The Private Placement was originally announced by Titanium on October 21, 2014 at which time it was contemplated that the Private Placement would be completed for gross proceeds of a minimum of $3 million and a maximum of $5 million.

Mr. Ted Daniel, CEO of Titanium commented, "Titanium has a proven track record of acquiring asset-based transportation companies, extracting synergies, and implementing leading edge technologies. The completion of the private placement will allow Titanium to accelerate its next phase of growth and consolidation."

Each Subscription Receipt was sold at a price of $1.50 and shall be automatically exchanged, for no additional consideration or further action on the part of the holder thereof, for one unit of Titanium following the satisfaction of certain escrow release conditions, which must be satisfied prior to 5:00 p.m. (Toronto time) on the date that is 90 days following the closing of the Private Placement (which period may be extended by Titanium for up to an additional 30 days).

About Titanium

Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 600 trailers, 200 power units and 250 employees. Titanium provides truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 600 customers. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed six 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 financial position and results of operations as at and for the periods ended on certain dates and to present information about management'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 or Northeastern's future outlook and anticipated events, including the completion of the Private Placement, 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 future results, performance, achievements, prospects or opportunities for Titanium or the industry in which it operatse 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.

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 does not undertake any 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.

Contact Information

  • Titanium Transportation Group Inc.
    Ted Daniel, CPA, CA
    Chief Executive Officer
    (905) 266-3011