KALAMA, WA — (MARKET WIRE) — 10/27/10 — Tytan Holdings, Inc. (PINKSHEETS: TYTN)
Tytan Holdings, Inc. announces today that it has signed a non-binding Letter of Intent to secure up to $2,000,000 in equity financing. This equity financing has been set at $0.005 per share for the first $1,000,000.00 and $0.01 per share for the second $1,000,000.00 . These financing terms represent a 277% premium to our current market share price of $0.0018 for the first million and a 555% premium to our current market share price for the second million.
The first investment of $50,000.00 would be received upon execution of a Definitive Financing Agreement and all additional investment proceed releases to the Company are based on a growth and financial performance matrix that Tytan has committed to achieve. The growth and financial performance matrix can be seen on the attached executed non-binding Letter of Intent.
The monies from this financing will be primarily utilized to expand Tytan’s showroom network infrastructure, inventory to stock new showrooms, and fund typical corporate operating costs.
The securities issued and sold (or that shall be issued and sold) in the equity financing will not be registered under the Securities Act of 1933 as amended (the “Act”), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act.
See Tytan Holdings, Inc. fabulous customer reviews at the following link:
Tytan Holdings, Inc.’s Letter of Intent is with SLO 3 Holdings, LLC , a California limited liability company, which is solely owned by Michael Forster who is a current shareholder of Tytan Holdings, Inc. and currently holds approximately 4.4% of the total issued and outstanding common stock of the Company.