EDMONTON, Alberta, September 25, 2006 - Titan Logix Corp. (the “Company”) (TSX
Venture: TLA) announced today that it has closed its previously announced Short Form Offering
for aggregate gross proceeds of $1,167,440. Pursuant to the second and final closing, the
Company issued 1,128,750 units at the price of $0.32 per unit for gross proceeds of $361,200.
Each unit consisted of one common share and one half of one common share purchase warrant,
each whole warrant exercisable into one common share at a price of $0.40 per share for a period
of 18 months subsequent to the closing of the Offering.
Canaccord Adams acted as Agent for the Short Form Offering. In connection with this final
closing, the Company paid cash commissions totaling $24,189 and issued 76,100 non-transferable
agent’s warrants, each agent’s warrant exercisable into one common share of the Company at a
price of $0.40 per share until March 25, 2008. On closing, the Company also issued 200,000
shares and 100,000 non-transferable warrants to Canaccord Adams, representing the corporate
finance fee. Each corporate finance warrant is exercisable into one common share at the price of
$0.35 per share until March 25, 2008.
Pursuant to the Company’s consulting services agreement with Erythana Ventures Corp., the
Company paid Erythana a cash fee of $18,060 in connection with this final closing.
The agent’s warrants, the corporate finance shares and warrants and any units issued to insiders of
the Company are subject to a four month hold period.
The proceeds of the Offering are intended to be used to fund the Company’s sales and marketing
efforts, research and development for new product launches, and for general working capital
About Titan Logix Corp.
The Company is a technology based enterprise, operating as Titan Logix Corp. It is engaged in
the design, manufacturing, sales, and support/service of a range of products including:
- Mechanical and electronic liquid level gauging systems for storage tanks and process
- Electronic burner control systems for atmospheric industrial heaters;
- Guided wave radar liquid gauging and control systems for mobile tankers;
- Mud level monitoring for oil and gas drilling well controls; and
For further information, please contact:
Les J. Evans, President& Chief Executive Officer
Ph: 780 462-4085 (Edmonton)
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to,
statements with respect to the use of proceeds. These statements address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or implied by the statements, such as, among others, the use
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