Titanium Transportation Group Inc. acquired Bert and Son’s Cartage Limited from Darin DeRosse and Michelle DeRosse for CAD 10.5 million.
January 03, 2022
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Titanium Transportation Group Inc. (TSXV:TTR) acquired Bert and Son's Cartage Limited from Darin DeRosse and Michelle DeRosse for CAD 10.5 million on January 1, 2022. As partial consideration, CAD 9 million of cash and 0.4 million common shares of Titanium Transportation Group were issued. CAD 9.2 million in cash was being held in trust in order to fund the cash portion of the BSC purchase price and related. BSC purchase price and related.The consideration shares are subject to contractual lock-up and will be released as 0.075 million shares on June 30, 2022; 0.075 million shares on December 31, 2022; 0.05 million shares on June 30, 2023; 0.05 million shares on December 31, 2023; 0.05 million shares on June 30, 2024; 0.05 million shares on December 31, 2024; and 0.05 million shares on June 30, 2025. The consideration shares are also subject to a hold period of four months and one day, expiring on May 5, 2022. Post-completion, Darin DeRosse and Michelle DeRosse will join the management team of Titanium Transportation Group and will become shareholders of Titanium Transportation Group. The acquisition remains subject to final approval of the TSX Venture Exchange.
Titanium Transportation Group Inc. (TSXV:TTR) completed the acquisition of Bert and Son's Cartage Limited from Darin DeRosse and Michelle DeRosse on January 1, 2022.
Titanium Transportation Group Inc. is a Canada-based transportation company. The Company has asset-based trucking operations and logistics brokerages servicing Canada and the United States, with approximately 1000 power units and 3,300 trailers. It provides truckload, dedicated and cross-border trucking services, logistics and warehousing and distribution to over 1,000 customers. It has established both asset-based and brokerage operations in Canada and the United States with 18 locations. The Company operates through two segments: Truck Transportation and Logistics. The Truck Transportation segment represents the pickup and delivery of full loads across Canada and the United States using a van, flatbed or other specialized equipment. The Logistics segment represents the brokering of freight across North America. It has terminals in Bolton, Bracebridge, Napanee, North Bay, Windsor, Belleville, Cornwall, Brantford, ON, Oakwood, GA and Falkville, AL.
TITANIUM TRANSPORTATION GROUP INC. 
