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Titan Logix Corp. Announces CEO Retirement and Appointment of Successor(December 14, 2011)
EDMONTON, ALBERTA -- (Marketwire) -- 12/14/11 -- Titan Logix Corp., (TSX VENTURE:TLA), announced today that Les J. Evans, the Company's Chief Executive Officer, will retire as CEO and director of the Company on December 15th, 2011.
The Board of Directors for Titan Logix Corp. is pleased to announce that Greg J. McGillis, P. Eng., has been appointed the Company's President and CEO, effective December 15, 2011. He will be nominated as a member of the board of directors at the Company's annual meeting in January.
"Les has provided Titan with excellent leadership that included building a solid management team with great abilities and experience. He enabled the Company to get through some tough times to enjoy the level of success we have today," said R.W. (Bob) Logan, Chairman of the Board. "We are fortunate to have Greg to continue Titan's growth using his leadership strengths, and extensive industry knowledge."
"This is an exciting time to lead this organization, building on the foundation established by my predecessors." McGillis said. "Les is a great leader. He has mentored me through challenging assignments to enable me to develop the skills required to lead our dynamic team."
Greg currently serves as President and Chief Operating Officer for Titan (since September 2010). He is an Electrical Engineer by profession. Over the past 19 years at Titan, in addition to his most recent assignment, he has filled various positions including Vice President of Operations and Business Development, Vice President of Engineering and Business Development, and Sales and Marketing Manager. One of Greg's major accomplishments was leading the launch of Titan's TD80 (level gauging and overfill prevention system for mobile tanks) in 1999. The TD80 is now Titan's number one flagship product, accounting for the most significant component of Titan's revenue. As President, Greg demonstrated the ability to lead the team to the next level of success. Chairman of the Board, Bob Logan, states: "The Board of Directors knows Greg can lead Titan into the next phase of the execution of our strategic plan. Greg is committed and he fosters a complete, total, all-encompassing commitment to achieve Titan's vision."
About Titan Logix Corp.:
Founded in 1979, Titan Logix Corp. ("Titan" or "the Company") is an industrial instrumentation and controls company specializing in the development and manufacture of advanced technology fluid management solutions, particularly for "on the road" applications. Titan's solutions are currently used in the oil and gas, waste collection 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 theme in many of these markets is the use of manual methods for measurement and control. However, due to the rising cost of many fluids, concerns and awareness about the environment (including the importance of spill prevention) and technological advancements, we are experiencing an increased demand for our products. We anticipate this demand will continue as we pursue expansion into other markets. The products we manufacture are part of a complete asset management solution. The full solution consists of our own market leading products integrated with best-in-class third party solutions to enable our customers to benefit from complete fluid asset management, throughout each stage of their processes. This is captured by our slogan "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 Toronto Venture Stock Exchange and its shares trade under the symbol, TLA.
This news release contains certain statements with information that may be forward-looking and subject to unknown risks and uncertainties. The actual results, performance and achievements of Titan Logix Corp. may differ materially from the results, performance and achievements expressed or implied by such forward-looking statements. These forward-looking statements may not relate strictly to historical or current facts. They represent management's views as of the date of this press release and we assume no obligation to update them. We caution you not to place undue reliance on these forward-looking statements.
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.
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