Bolton, ON – Titanium Transportation Group Inc. (TSX-V:TTR) (“Titanium” or the “Company”) is pleased to announce that its previously announced share purchase plan was approved by shareholders at the Company’s Annual and Special Meeting (the “Meeting”) held on June 13, 2017.
A total of 16,872,735 shares were represented at the Meeting, representing 45% of the issued and outstanding common shares of the Company as at the record date. Shareholders voted 99.8% in favor of the Share Purchase Plan.
Mr. Ted Daniel, CEO of Titanium commented: “The goal of our share purchase plan is to encourage an ownership interest in the operation, growth and development of our Company by all of our truck drivers and staff. Companies with employee share purchase plans have demonstrated superior profitability and lower employee turnover rates, two very important considerations, especially once truck transportation capacity begins to tighten in the industry. As the only Canadian trucking company with a share purchase plan like ours, we believe this will further differentiate Titanium from its competitors.”
Shareholders also voted in favor of the reappointment of Williams & Partners as auditors of the Company and the approval of the Company’s rolling stock option plan. All candidates proposed as directors were duly elected as follows:
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Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 400 power units, over 1,300 trailers and approximately 500 employees and independent truck owner operators. Titanium provides truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 1,000 customers. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed eight asset-based trucking acquisitions since 2011. Titanium has also been ranked by PROFIT magazine as one of Canada’s Fastest Growing Companies for eight 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 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’s future outlook and anticipated events, 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 acquisitions, the availability of credit, performance, achievements, prospects or opportunities for Titanium or the industry in which it operates are forward-looking statements, including statements relating to the Plan and its proposed implementation and the timeline for such implementation. 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.
Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
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 undertakes no 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.
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