Addition of Prepaid Telecommunications Industry Veteran Furthers Company's Mission to Build World-Class Senior Management Team
November 12, 2007
Titan Global Holdings, Inc. ("Titan") (OTCBB:TTGL), a high growth diversified holding company, today announced the appointment of prepaid industry veteran Brad Kropf as the new President and Chief Executive Officer of Titan Communications Division.
Prior to joining Titan, Mr. Kropf served in leadership roles with Sprint Nextel Corporation. Most recently, Mr. Kropf served as Director of Sprint Nextel's Prepaid Solutions Group, which was responsible for both the retail and promotional sales of prepaid stored-value solutions. Mr. Kropf led all divisional functions including sales, marketing, product, operations, card production, logistics, strategic planning, and business development for the Prepaid Solutions Group, and transformed the business unit into one of Sprint-Nextel's fastest growing businesses.
Mr. Kropf will begin day-to-day duties on December 1, 2007 at Titan's corporate headquarters in Richardson, Texas. Mr. Kropf succeeds Kurt Jensen. Mr. Jensen was promoted to Executive Vice President of Titan Global Mergers & Acquisitions (Titan M&A), which was recently formed to enable the Company to effectively capitalize on new strategic opportunities.
"We are thrilled to appoint Brad as the new leader of our Communications Division," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Brad's experience in product development and retail deployment will be valuable as we seek opportunities to capture more market share through an expansion of our current distribution footprint."
Titan's Communications Division is comprised of Oblio Telecom (distribution), StartTalk (international network operations), Titan Wireless (wireless operations) and Pinless (e-commerce applications). The integration of these units positions the Company to continue its accelerated growth in fiscal 2008 with rapid delivery of new products and more efficient call termination options. Including recent agreements, Titan's Communication Division increased its distribution channels to over 86,000 retail outlets.
Titan Communications generated $89 million in revenues in 2006 and generated over $80 million in revenues for the nine months ended May 31, 2007. The Communications Division is projected to generate $174 million in revenues in fiscal year 2008.
"I look forward to joining the Titan team," said Mr. Kropf. "Titan's Communications Division is comprised of trusted brands in a large distribution network. I will seek to expand our product portfolio and distribution footprint to include new opportunities including point of sale activated (POSA) channels."
"It is with great pleasure and confidence I pass the baton to Brad," said Mr. Jensen. "Under Brad's leadership Titan Communications is poised to open new market channels and, given his experience, to manage our relationships with Tier one providers."
"Titan continues to strengthen its world-class management team," said David Marks, Chairman of Titan Global Holdings. "As we continue on our aggressive growth trajectory, we will continue to add management depth at the parent and business unit level. Brad adds valued expertise and leadership to our Communications Division and completes the migration of Kurt Jensen to lead our vital M&A efforts."
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through our nine wholly-owned subsidiaries, we take advantage of valuable synergies between our subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan's operating divisions include the following:
Titan's Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc., the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan's growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0.
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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.
