BOLTON, Ontario, May 10, 2023 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX:TTNM, OTCQX:TTNMF), today announced that it has changed its auditor from MNP LLP (the "Former Auditor" or "MNP") to KPMG LLP ("Successor Auditor" or "KPMG") effective May 10, 2023.
At the request of the Company, MNP resigned as the auditor of the Company and the Board of Directors of the Company appointed KPMG as the new auditor effective May 10, 2023 until the close of the Company's next Annual General Meeting.
There are no "reportable events" (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Company and the Former Auditor. In addition, there were no reservations in the Former Auditor’s audit reports for any financial period during which the Former Auditor was the Company's auditor.
In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and Successor Auditor, have been reviewed by the Company's Audit Committee and will be filed on SEDAR.
Titanium is a leading North American transportation company with asset-based trucking operations and logistics brokerages servicing Canada and the United States, with approximately 800 power units, 3,000 trailers and 1,100 employees and independent owner operators. Titanium provides truckload, dedicated, and cross-border trucking services, logistics, and warehousing and distribution to over 1,000 customers. In the U.S., Titanium has established operations in Charlotte, Atlanta, Chicago, Nashville, Denver and Arkansas. In February 2021, Titanium completed its largest acquisition since its founding, establishing Titanium as the 12th largest Canadian transportation company. Titanium is a recognized purchaser of asset-based trucking companies, having completed twelve (12) transactions since 2011. Titanium ranked among top 500 companies in the inaugural Financial Times Americas’ Fastest Growing Companies in 2020. The Company was ranked by Canadian Business as one of Canada's Fastest Growing Companies for eleven (11) consecutive years. For two (2) consecutive years, Titanium has also been ranked one of Canada’s Top Growing Companies by the Globe and Mail’s Report on Business of Canada. Titanium is currently listed on the Toronto Stock Exchange under the symbol “TTNM" and “TTNMF” on the OTCQX.
Titanium Transportation Group Inc.
Ted Daniel, CPA, CA
Chief Executive Officer
For Investors Relations