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Enviro-Clean of America, Inc. receives Shareholder
approval for name change to Titanium Holdings Group, Inc.
San Antonio, TX, September 6, 2001 -Enviro-Clean of America, Inc.
(OTC-BB: EVCL) Titanium Holdings Group, Inc (OTC-BB: TTHG), --Enviro-Clean
of America, Inc. today announced that its shareholders have approved
an amendment to the Company's Articles of Incorporation to change
its name to Titanium Holdings Group, Inc. Of the Company's 5,580,710
outstanding shares of Common Stock, as of the record date of the
special shareholders' meeting, 3,547,705 or approximately 64% voted
in favor of the name change.
Titanium Holdings Group, Inc will begin trading on the OTC-BB,
under the new trading symbol TTHG, at the start of trading on Friday,
September 7, 2001. The name change will not affect the validity
or transferability of currently outstanding stock certificates,
nor will it affect Enviro-Clean's capital or corporate structure.
Current shareholders will not be required to surrender or exchange
any stock certificates that they currently hold.
Randall K. Davis, Chairman and CEO commented " This completes our
transformation from being a consolidator in the janitorial supply
industry to a true holding company focused on our current holdings.
We continue to explore investment opportunities, potential merger
partners and acquisition candidates. Additionally we will continue
to participate in our stock repurchase program, approved by the
Board on November 22, 2000, from which we have already repurchased
over 175,000 shares of our common stock"
Titanium Holdings Group, Inc. current holdings include its wholly
owned operation Cleaning Ideas Corp., and its investments in IVAX
Diagnostics, Inc. (AMEX-IVD) and Excalibur I, LLC. Mr. Davis serves
on the Board of Directors of IVAX Diagnostics.
About Cleaning Ideas Corp.
Cleaning Ideas Corp., located in San Antonio, Texas, is a manufacturer
and distributor in the janitorial and sanitary supply industry.
Its two divisions comprise nine Cleaning Ideas retail stores and
Sanivac/Davis Manufacturing Company a 70-year-old distribution/manufacturing
company.
About IVAX Diagnostics, Inc.
IVAX Diagnostics, Inc., headquartered in Miami, Florida, develops,
manufactures and markets proprietary diagnostic reagents, instrumentation
and software in the United States and Italy through its three subsidiaries:
Diamedix Corporation, Delta Biologicals S.r.l. and ImmunoVision,
Inc. IVAX Corporation (AMEX: IVX) owns approximately 70% of IVAX
Diagnostics, Inc.
About Excalibur I LLC.
Excalibur I LLC., located in Lake Success, New York , purchases
discounted portfolios of consumer bad debt. Titanium Holdings Group
Inc.'s investment is in the form of a promissory note with a 50%
rate of return over the face value of the note. Excalibur I LLC.
has purchased in excess of one billion dollars of consumer bad debt
in the last three years.
This press release includes statements that may constitute "forward-looking"
statements, usually containing the words "believe", "estimate",
"project", "expect" or similar expressions. These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements inherently
involve risks and uncertainties that could cause actual results
to differ materially from the forward-looking statements. Factors
that would cause or contribute to such differences include, but
are not limited to, continued acceptance of the Company's products
and services in the marketplace, competitive factors, dependence
upon third-party vendors, and other risks detailed in the Company's
periodic report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release.
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