Wireless Division Continues to Expand Retail Distribution Footprint and Reports Unprecedented Organic Growth
November 20, 2007
Titan Global Holdings, Inc. ("Titan") (OTCBB:TTGL), a high-growth diversified holding company, announced today that Titan Wireless Inc., a unit of Titan's Communication Division, is continuing its unprecedented organic growth as it has shipped over 27,000 Ready Mobile PCS handsets since October 1, 2007. In October Titan Wireless announced a distribution agreement with a national retail chain to distribute more than 36,000 Ready Mobile-branded PCS handsets.
These developments continue to validate the Company's high-growth business strategy focused on generating revenues from trusted wireless brand products through a retail distribution system that now reaches more than 86,000 locations.
"Titan Wireless is experiencing record organic growth during the first quarter of 2008," said Dennis Henderson, President of Titan Wireless. "Our wireless retail footprint has doubled this quarter as retail partners continue to identify with our trusted and value-oriented prepaid wireless solutions. We expect to continue this trajectory into the second quarter as these record shipments will convert into sustained subscriber growth for Titan Wireless."
Titan Wireless, through its well-known brands Ready Mobile, Mojo Mobile, Picante Movil and Bravo, is a leading provider of cost-effective prepaid wireless offerings through its mobile virtual network operator (MVNO) agreement with Sprint PCS. Titan Wireless completed its purchase of the assets of Ready Mobile, LLC, a national Sprint MVNO generating $12 million in annual revenues, in May, 2007.
"Dennis and his team are executing on their plan to rapidly increase our retail distribution channels," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings, Inc. "The expansion of our retail channels will reap anticipated multiple returns for our shareholders as we continue to develop and integrate Titan Global Brands, which will offer retailers a vast array of products to meet the markets needs."
Titan recently issued revenue guidance for fiscal 2008 that includes Titan Wireless' expected $23.5 million contribution to the Company's stated overall revenue guidance of between $735 and $747 million for fiscal 2008.
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.
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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.
