BOLTON, Ontario, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX-V:TTR) announces the appointment of David Bradley as an independent director, effective January 1, 2018. Mr. Bradley is retiring as the CEO of both the Canadian Trucking Alliance ("CTA") and the Ontario Trucking Association ("OTA") on December 31, 2017, having served in those roles for the better part of three decades.
Mr. Bradley was responsible for leading several key industry policy initiatives including the introduction of mandatory speed limiter activation, a universal electronic logging device ("ELD") mandate and mandatory entry level training ("MELT") for truck drivers. Prior to joining the trucking industry, he was a management consultant with Touche Ross & Partners and a financial markets economist with the Bank of Nova Scotia. Mr. Bradley will be joining the Company's audit committee.
"We are excited to welcome David Bradley to Titanium's Board of Directors," said Ted Daniel, Titanium's CEO. "His wealth of knowledge and passion for the industry will generate tremendous value for our Company."
Titanium also announces the resignation of Ari Levy as director, effective immediately. “We would like to thank Ari for his contribution to the success of the Company both during our IPO and our first few years as a public company," said Mr. Daniel. "His prior professional experiences and manner were very helpful and greatly appreciated. We wish him much success in his future endeavours.”
About Titanium
Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 450 power units, 1,500 trailers and 550 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 ten asset-based trucking acquisitions since 2011. Titanium has also been ranked by PROFIT magazine as one of Canada's Fastest Growing Companies for nine 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, including pro-forma and future financial performance of Xpress, future revenue and EBITDA run rates and may also 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. 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. For greater certainty and notwithstanding the foregoing, annualized run rate total revenue and EBITDA are not presented herein as forward-looking statements. These annualized figures are based solely on historical data and are included to allow readers to understand the current size of the Company, and should not in any circumstance be construed as projections or forecasts of the Company's future performance.
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. Actual future results of Xpress may differ materially from management's expectations, and while management considers its 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.
CONTACT INFORMATION
Titanium Transportation Group Inc.
Kasia Malz, CPA, CA
Chief Financial Officer
(905) 266-3036
investors@ttgi.com
www.ttgi.com