Titan Global Reports Completion of Private Block Sale by Greystone Business Credit from Capital Source
DALLAS -- Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, today announced that it learned that an affiliate of Greystone Business Credit, LLC, its senior lender, completed the private block purchase of 1,250,000 common shares of Titan previously owned by Capital Source, LLC. The transaction followed the Company's milestone $22.6 million refinancing agreement with Greystone.
This purchase followed Titan's repayment of all sums owed to Capital Source, LLC under various loan agreements on December 29, 2006. Titan and Capital Source, LLC have no ongoing business relationship.
The private block sale between Greystone and Capital Source, LLC didn't involve Titan and had no impact on Titan's outstanding common shares.
"We are pleased to learn that Greystone bought the common shares previously owned by Capital Source," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Greystone is an excellent finance partner: both smart and with an entrepreneurial fervor that fits growth companies like Titan. This transaction reflects our ongoing commitment to building shareholder value."
Recently, Titan consummated its previously announced repurchase of 1,250,000 common shares from Laurus Master Fund, Ltd. The repurchase followed Titan's repayment of all sums owed to Laurus under various loan agreements. Titan and Laurus have no ongoing business relationship.
Titan also reported record financial results for Q1 2007, with the Company's divisions generating a total of $29.9 million in revenues for the period, representing a $2.3 million gain over the same period the previous year. The Company also reported $1.2 million in earnings before interest, taxes, depreciation and amortization (EBITDA), an increase of 50% from the first quarter of 2006.
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.
Contacts
Trilogy Capital Partners
Financial Communications:
Paul Karon, Toll-free: 800-592-6067
paul@trilogy-capital.com
This purchase followed Titan's repayment of all sums owed to Capital Source, LLC under various loan agreements on December 29, 2006. Titan and Capital Source, LLC have no ongoing business relationship.
The private block sale between Greystone and Capital Source, LLC didn't involve Titan and had no impact on Titan's outstanding common shares.
"We are pleased to learn that Greystone bought the common shares previously owned by Capital Source," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Greystone is an excellent finance partner: both smart and with an entrepreneurial fervor that fits growth companies like Titan. This transaction reflects our ongoing commitment to building shareholder value."
Recently, Titan consummated its previously announced repurchase of 1,250,000 common shares from Laurus Master Fund, Ltd. The repurchase followed Titan's repayment of all sums owed to Laurus under various loan agreements. Titan and Laurus have no ongoing business relationship.
Titan also reported record financial results for Q1 2007, with the Company's divisions generating a total of $29.9 million in revenues for the period, representing a $2.3 million gain over the same period the previous year. The Company also reported $1.2 million in earnings before interest, taxes, depreciation and amortization (EBITDA), an increase of 50% from the first quarter of 2006.
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.
Contacts
Trilogy Capital Partners
Financial Communications:
Paul Karon, Toll-free: 800-592-6067
paul@trilogy-capital.com
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