WOODBRIDGE, ON — Titanium Transportation Group Inc. announced on Tuesday it has completed its previously announced plan to raise $11.5 million.

The proceeds are expected to be used to fund equipment purchases, future acquisitions, working capital and general corporate needs, according to the company.

The deal was made with a syndicate of underwriters in which Titanium issued 4,036,500 units at a price of $2.85 per unit, for aggregate gross proceeds of $11,504,025.

The offering remains subject to the final approval of the TSX Venture Exchange.

Titanium is an asset-based transportation and logistics company servicing Canada and the U.S., with over 325 power units, approximately 1,100 trailers and around 400 employees and independent owner operators, providing truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution services.