Woodbridge, Ontario – Titanium Transportation Group Inc. (TSX-V:TTR) (“Titanium” or the “Company”) is pleased to announce the closing of its acquisition of the Windsor Terminal from Tregaskiss Investment Group Inc. (the “Vendor”).
The Windsor Terminal is comprised of the land and building located at 3315 Devon Dr., Windsor, Ontario that is currently occupied by Drive Logistics Ltd. (the “Windsor Terminal”). The Windsor Terminal was acquired for cash consideration of $3.4 million.
As previously announced, Titanium has also entered into an agreement to purchase 19 Volvo power units, 59 trailers and furniture and equipment (“Rolling Stock”) located at the Windsor Terminal for aggregate consideration of $2.9 million. The acquisition of the Rolling Stock is expected to close on or about June 15th, 2016.
Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 420 power units, over 1,300 trailers and over 500 employees and independent 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 seven consecutive years.
Cautionary statement regarding forward-looking statements
Certain statements contained in this press release constitute forward-looking statements and information within the meaning of Canadian securities laws. Forward-looking statements and information 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. Particularly, statements regarding performance, achievements, prospects or opportunities for Titanium or the industry in which it operates are forward-looking statements. 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. More particularly, without limitation, this press release contains forward-looking statements concerning the following: the completion of the acquisition of the Rolling Stock and on the terms and conditions described herein.
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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.