TUCSON, AZ, Sept. 11, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Titan NRG, Inc. ("Titan NRG" OTC: TTNN), a leader in downstream energy and transportation through its wholly-owned subsidiaries, announces that its Board of Directors has approved a share repurchase program with authorization to purchase up to 3,000,000 shares of its preferred and/or common stock through September 1, 2024.
Titan NRG's commitment to its stock buyback program is a strategic move that will have a positive impact on the company's future. The company will be looking to purchase up to 3,000,000 shares of certain preferred and common shares over the next year. Titan NRG aims to reduce the potential dilution that could occur in the future, sending a clear signal of its commitment to shareholders. This proactive approach demonstrates the company's dedication to maintaining a strong position in the market.
Furthermore, by embracing this share repurchase program, Titan NRG showcases its unshakable confidence in the strength of its financial foundation. This confidence resonates with both existing and prospective investors, who can rest assured knowing that the company is unwavering in its mission to protect their interests and actively work towards maximizing shareholder value.
Titan may repurchase shares from time to time through open market purchases, in privately negotiated transactions or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The authorization expires on September 1, 2024, it may be suspended or discontinued at any time and it does not obligate the company to acquire any amount of its common or preferred stock.
Further information for Titan NRG, Inc. can be accessed on the OTC Markets website at: https://www.otcmarkets.com/stock/TTNN/overview
Contact:
Alex R. Majalca Jr.
President/Chief Executive Officer
Titan NRG, Inc.
alex@titannrg.com
About Titan NRG Inc.:
Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly-owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 9 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson with approved 1.2mm gallons of propane/butane storage. Titan NRG focuses on vertical integration while expanding operations to cover product transfer and sales from the refinery to retail. This business model is a win for the company, customers, and shareholders. Additionally, this model can be replicated in other regions.
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
