Titan Global Energy Group Seeks to Replicate Appco Business Model in Contiguous Markets
Sep 19, 2007
Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, today refined Titan Global Energy's Strategic Initiatives for fiscal 2008 following the milestone acquisition of Appalachian Oil Company ("Appco") earlier this week. This announcement was made by Bryan Chance, President and Chief Executive Officer of Titan Global Holdings.
On August 6, 2007 Titan announced strategic initiatives for Titan Global Energy Group as follows:
Strategic Initiative 1 — Secure supply of biofuels products through strategic agreements and acquisitions that will enhance profitability and environmental responsibility in the markets we serve.
Recently, Titan completed a biofuel supply agreement with NewGen Technologies, Inc. ("NewGen"). Under the terms of the agreement, Titan and NewGen entered into a contract for a term of 10 years providing Refuel America, Inc., a wholly owned subsidiary of NewGen, with the right to supply biofuel products to Appco or its affiliates at the then prevailing market price for such biofuel products at the time an order is placed.
Strategic Initiative 2 — Seek opportunities to vertically integrate to increase our leverage and position in the energy product life cycle.
Titan and its strategic investors are exploring opportunities for the acquisition of energy resource assets including coal, natural gas, and tar sands located in the United States.
Strategic Initiative 3 — Expand the markets we serve through acquisitions and organic growth in contiguous markets.
Titan acquired 100% of the outstanding common stock of Appco. Appco was formed in 1923 and based in Blountville, Tennessee, owns and operates an extensive petroleum product distribution network. Appco distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenience store locations. Appco has more than 550 employees and maintains long standing partnerships with strategic terminal operators and major oil companies.
Titan and its strategic investors are exploring opportunities to grow the Company's energy assets by replicating the efficient distribution model of Appco in contiguous markets. Appco leverages strategic partnerships with terminal operators and refineries to supply the petroleum needs of rural, underserved markets in the southeastern United States through its retail store footprint and wholesale dealer and commercial accounts.
Titan believes that expanded petroleum distribution opportunities will strengthen Appco's ability to supply environmentally friendly, profitable biofuels throughout its network.
"The founders and management of Appco have developed an efficient and productive distribution model," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Through strategic relationships with terminal operators and major oil companies, Appco has a consistent and competitively priced supply of branded and unbranded petroleum products that meet the demands of its customers. We are exploring asset acquisitions and strategic partnerships to replicate this model in other markets in the Southeast. Appco's proven management team has over 125 years aggregate experience developing this efficient network and the related markets."
About Titan Global Holdings
Titan Global Holdings, Inc. is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy. 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.
