Axia Group Inc. Signs Agreement to Acquire Titan Energy Development, Inc., Developer of Mobile Utility Systems for Disaster Recovery
Thursday March 2, 9:00 am ET
SAN DIEGO, Calif., March 2 /PRNewswire-FirstCall/ -- Axia Group, Inc. (OTC Bulletin Board: AXIGE - News), announced today that it has signed a letter of agreement to acquire Titan Energy Development Inc., the developer of the "Sentry 5000," a mobile utility system designed for quick deployment in disaster and emergency situations. The Sentry 5000 is a compact, self contained utility system that provides electrical generation, heating and cooling, water filtration and satellite communications. Execution of the acquisition agreement is pending due diligence and an audit of Titan's financial statements. While completing the due diligence, Axia will operate under an exclusive distributor agreement that was signed on February 27, 2006 to market the Sentry 5000 system in Asia and Southeast Asia.
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The Sentry 5000 was designed and developed by Titan to be a smaller, completely self sufficient "first response" unit that will provide vital services in situations such as manmade or natural disasters. The Sentry 5000 rapid response and operating capability enables relief agencies to maximize life saving efforts and commercial entities to minimize economic loss due to unscheduled power outages.
Jeffrey Flannery, CEO of Axia Group, Inc. stated "We believe that Titan is a strategic and timely acquisition for Axia. While developing a marketing strategy to distribute the Titan Sentry 5000, we realized there were numerous benefits for our companies to join operations. The Sentry 5000 represents a potentially significant profit center for Axia, while giving our construction teams and partners the ability to work more effectively and profitably. Power outages and lack of adequate power are constant issues resulting in work stoppages that can be costly."
Flannery also stated, "The acquisition of Titan, when it is completed, will give us an advantage not only in certain international markets, but may accelerate our entry into the U.S. market for disaster related technologies. The Sentry 5000 is a multifunctional solution that should be of great interest to cities, municipalities and governmental agencies."
The Titan Sentry 5000 is designed for multiple emergencies and remote access applications around the world. It's sized and priced to accommodate a variety of budgets ranging from charity relief agencies to government agencies.
Thomas Black, CEO of Titan Energy, Inc. stated, "We are very excited about the prospect of being a part of the Axia Group. We believe there is a need for every critical support facility, such as police and fire stations, to have the Sentry 5000 to provide not only emergency power for the station, but to make it truly an emergency shelter."
More information on Axia Group, Inc. can be found at: www.axiagroup.info.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXIGE officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXIGE actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXIGE has no specific intention to update these statements.
