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Titan Logix Corp. Announces New Director(January 18, 2012)
EDMONTON, ALBERTA -- (Marketwire) -- 01/18/12 -- Titan Logix Corp., (TSX VENTURE:TLA) ("Titan" or the "Company"), an advanced technology industrial instrumentation and controls company, announces that at its Annual General Meeting (the "Meeting") held on January 16, 2012, the shareholders elected Greg J. McGillis to its board of directors. He joins R.W. (Bob) Logan, Dave Kastelic, Matthew Marquardt and W. Douglas Frame who were re-elected to the Board at the meeting.
Greg McGillis was appointed CEO and President of Titan Logix Corp. on December 15, 2011. Greg 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 President and Chief Operating Officer, Vice President of Operations and Business Development, Vice President of Engineering and Business Development, and Sales and Marketing Manager.
Mr. McGillis was awarded 100,000 incentive stock options exercisable at $0.38 per share to January 16, 2017. The Board of Directors also approved additional incentive stock options for the Chief Financial Officer of 30,000 shares which are also exercisable over the five year period ending January 16, 2017 at a price of $0.38 per share. All options were granted in accordance with the Company's stock option plan as approved by the shareholders on January 17, 2003.
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.
Titan Logix Corp.
President and Chief Executive Officer
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