Titan Logix Corp. Announces Proposed Changes to Director Nominations at the AGM
By Marketwired News
By Marketwired News
EDMONTON, ALBERTA–(Marketwired – Dec. 29, 2015) – Titan Logix Corp., (TSX VENTURE:TLA) (“Titan” or the “Company”), a high technology company specializing in advanced technology fluid management solutions has recently mailed and filed proxy materials in connection with its annual meeting to be held on January 11, 2016. The proxy materials contemplate the nomination of R.W. (Bob) Logan, David Kastelic, W. Douglas Frame, Charles Buehler and Greg McGillis for election as directors at the annual meeting. Subsequent to the mailing and filing of the proxy materials, Mr. Logan and Mr. Kastelic have decided not to stand for re-election, and it is proposed, based on the recommendation of the Executive Compensation and Corporate Governance Committee, that Mr. Warren J. White be nominated for election at the meeting instead and that the number of directors be set at four (4).
Mr. Logan served as a Director since April 2004, and was Chairman of the Board since August 2009. Mr. Kastelic served as a Director since January 2010, and Chair of the Audit Committee since January 2011. “On behalf of Titan and its Directors, I would like to sincerely thank Mr. Logan and Mr. Kastelic for their dedication and numerous contributions over the years, and wish them both the very best in their future endeavors,” said Greg McGillis, Titan’s President and CEO. “We look forward to Mr. White joining Titan’s board,” continued Mr. McGillis, “and welcome the expertise and experience he brings to Titan.”
Mr. White is a CPA and an MBA graduate from Concordia University. He has held many senior leadership roles for large international manufacturing organizations with responsibilities in information technology, finance, procurement and strategic planning. Before becoming an independent consultant, Mr. White was Senior Vice President, Global Business Engineering at CGI until 2012, and Vice President, Information Technology and Global Procurement at Alcan Aluminum until 2003. Mr. White is also a director of Supremex Inc., a TSX listed company, and Circa Enterprises, a TSX-V listed company.
The form of management proxy previously distributed to registered shareholders in connection with the annual meeting provides management with discretionary authority to vote on amendments or variations to matters coming before the meeting and it is intended that all such proxies will be voted FOR the new proposed director nominee and FOR setting the number of directors at four (4). If a registered shareholder has submitted a management proxy and does not wish the proxy to be voted in this manner, they may revoke their proxy by personally attending the meeting, revoking their proxy and voting their shares in person or by depositing an instrument in writing, including a proxy bearing a later date, either at the office of the Company’s transfer agent, Computershare Trust Company of Canada, Proxy Department, 8th floor, 100 University Avenue, Toronto, ON M5J 2Y1, at any time up to and including the last business day before the day of the meeting, or any adjournment of the meeting, at which the proxy is to be used, or with the chairman of the meeting on the day of the meeting, or any adjournment. Only registered shareholders have the right to revoke a proxy. Non-registered shareholders who wish to change their vote must, at least 7 days before the meeting, arrange for their nominees to revoke the proxy on their behalf.
About Titan Logix Corp.:
Founded in 1979, Titan Logix Corp. (“Titan” or “the Company”) is a high technology company specializing in Research and Development (R&D), manufacturing and marketing of advanced technology fluid management solutions. The Company’s products include Guided Wave Radar (GWR) gauges for level measurement and overfill prevention (particularly for use in mobile tanker applications), level gauges for storage tanks, and communication systems for remote alarming and control. Our products are currently used in the oil and gas, waste fluid collection, chemical and aviation industries. These technologies and their derivatives under development are applicable to a variety of additional markets which Titan plans to expand into at the appropriate time. A common practice in many of these markets is the use of manual methods for measurement and control. Our advanced technology products are in demand by our customers due to safety considerations, the cost of managing their fluids, awareness and concerns about the environment, and technological advancements enabling better operational efficiencies. We anticipate this demand will be present as we pursue expansion into other markets.
Titan’s products are part of a complete asset management solution. The full solution consists of Titan’s products integrated with best-in-class third party solutions to enable our complete fluid management throughout each stage of their fluid handling processes. This is captured by our slogan “Advanced Technology Fluid Management Solutions, In the Field, On the Road, In the Office”™.
- In the Field: “In the Field” refers to Titan’s solution offerings for storage tanks and process vessels.
- On the Road: “On the Road” refers to Titan’s solution offerings for mobile tanker trucks and trailers.
- In the Office: “In the Office” refers to Titan’s solution offerings that enable customers to monitor their fluid assets from the convenience of their dispatch center or other back office environment through a wired or wireless connection.
Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2015 which is available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Greg J. McGillis, P.Eng.
President and Chief Executive Officer
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