Titan Announces New Financing
PHOENIX, Feb 8, 2001 /PRNewswire via COMTEX/ -- Titan Motorcycle Co. of America (OTC Bulletin Board: TMOTQ chart, msgs) announced today the securing of court approval for new debtor in possession financing of $250,000, which should become available to the Company within the week.
"This new $250,000 loan will allow Titan to begin the process of ramping up production to meet the upcoming seasonal demands of our international dealership network," said Frank Keery, CEO. He said that he expects in the next few weeks to further expand the Company's resource base with the availability of a second $250,000 and, once approved by the court, securing a larger, longer-term loan shortly thereafter to carry the company through its successful reorganization anticipated for later this year.
Founded in 1994, Titan Motorcycle Co. of America is a premier designer, manufacturer and distributor of high-end, American-made, V-twin engine motorcycles marketed under various Titan trademarks. Titan's unique, hand-built configurations, including the Gecko(TM), Roadrunner(TM), Sidewinder(TM) and Phoenix(TM) represent the finest available in custom-designed, volume-produced, performance motorcycles. Manufactured at the Company's corporate headquarters and manufacturing facility, and available with a variety of customized options and designs, Titan large displacement motorcycles are sold through a network of over 80 domestic and international dealers.
Source: Titan Motorcycle Co. of America
Contact:
Frank Keery, Chief Executive Officer of Titan Motorcycle Co. of
America, www.titanmotorcycle.com; or Madeleine Franco of Jordan Richard
Assoc., 801-268-8610, ir@jordanrichard.com, for Titan Motorcycle Co. of
America
URL: titanmotorcycle.com |
