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TITOMIC LIMITED — Capital/Financing Update 2022
Nov 3, 2022
65963_rns_2022-11-03_c69532ac-4323-4249-a08d-0562f4a29bc0.pdf
Capital/Financing Update
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November 4, 2022
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ASX Announcement
GENERAL BUSINESS
Titomic strengthens presence in USA with reseller MSI Viking and D523 sale.
ADDITIVE MANUFACTURING
Armaments
Ballistic Protection Structures Tooling Embedded Sensors
COATING & REPAIR
Metal Restoration Wear Resistance Corrosion Protection Conductive Coating Inductive Coating Radiation Shielding
Titomic Limited (ASX: TTT) (“Titomic” or “Company”) has further expanded into the United States by entering into a reseller agreement with MSI Viking - a leading supplier of manufacturing technologies, and a developed sales and service organization.
MSI Viking has also purchased a D523 demonstrator unit to assist in generating sales opportunities for the D523 System (“System”). It’s expected that MSI Viking will utilise the System to provide repair services, in addition to marketing and reselling the System. MSI Viking will have exclusivity within 11 states across Eastern and Southern USA, including and not limited to Georgia, Virginia, Tennessee, Michigan, Ohio, Florida, and North and South Carolina, and will service these areas from five MSI Viking locations.
MSI Viking also delivers custom engineered solutions by leveraging advanced automation and control systems, machine vision, and robotic technologies, making MSI Viking a valuable strategic partner.
Revenue to Titomic from the reseller agreement will be based on machines sold and while it is not therefore possible to provide any revenue estimate, the Company does consider the reseller agreement as material. This is because MSI Viking will be a key partner in a new sector in the United States not currently serviced by Titomic.
The addition of MSI Viking as a reseller comes shortly after Alliance Singapore joined Titomic as a reseller and further demonstrates the growing confidence for the commercial applications of the System and Titomic Kinetic Fusion. This growing base of resellers supports Titomic’s revenue goals surrounding low-pressure cold spray systems such as the D523, and enables Titomic to accelerate growth within key regions.
Herbert Koeck, Managing Director of Titomic, commented:
”I’m excited to have MSI Viking join us as a reseller. This is a strong foothold within the large industrial markets of the USA, where we expect to see strong growth. We’re pleased to partner with this longstanding and established company - one with deep expertise within repair, manufacturing technologies, and as a sales organisation.
Welcoming MSI Viking on board is further progress toward scaling our efforts in the USA. It’s these partnerships that will allow us to quickly begin to capitalise on the vast commercial opportunities that lay ahead of us.”
This announcement has been authorised for release by the Board of Titomic Limited.
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Titomic Limited Ground floor, 365 Ferntree Gully Road Mount Waverley, Victoria 3149, Australia
[email protected] | titomic.com
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ABN 77 602 793 644
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GENERAL BUSINESS
ADDITIVE MANUFACTURING
INVESTOR CONTACT Adrian Mulcahy Automic Group P: +61 438 630 422
MEDIA ENQUIRIES Tristan Everett Automic Group P: +61 403 789 096
Armaments
Ballistic Protection Structures Tooling Embedded Sensors
COATING & REPAIR
Metal Restoration Wear Resistance Corrosion Protection Conductive Coating Inductive Coating Radiation Shielding
ABOUT TITOMIC LIMITED
Titomic Limited (ASX: TTT) is an Australian public company specialising in large integrated solutions for industrialscale metal additive manufacturing, using its patented cold spray additive manufacturing (Cold Spray AM) technology. Titomic provides Cold Spray AM solutions, OEM production and R&D services to the global Aerospace, Defence, Shipbuilding, Oil & Gas, Mining and Automotive industries. Titomic also offers global sales and support for all of its Cold Spray AM activities from its Melbourne Head Office, as well as through local presence in the USA and Europe. Titomic delivers competitive advantages in metal additive manufacturing at every stage in the product value chain. For more information, please visit www.titomic.com.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements and are based on Titomic’s current expectations, estimates and projections. Words such as “anticipates”, “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Titomic believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Titomic’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Titomic will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.
Titomic Limited Ground floor, 365 Ferntree Gully Road Mount Waverley, Victoria 3149, Australia
[email protected] | titomic.com
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ABN 77 602 793 644