WESTLAKE VILLAGE, Calif., Nov. 19, 2015 /PRNewswire/ -- Timios National Corporation (OTCPK: HOMS) completed a merger into Timios Holdings Corp., a privately held company. Approximately 3% of the ownership of Timios National Corporation was held in the public float. The share price at the time of the merger was $0.35 per share and management is proud to report public shareholders will receive $1.60 per share in cash as a result of the merger. Furthermore, the California Department of Insurance has approved an expansion of Timios Title, a California Corporation and subsidiary of Timios, Inc., to all counties in California.
The officers and directors of Timios Holdings Corp. will be the same as under Timios National Corporation. As a result of the merger, Timios National Corporation has been merged into Timios Holdings Corp. and is no longer a publicly traded company. Accordingly, Timios National Corporation's ticker symbol (OTCPK: HOMS) has been taken down.
Timios delivered strong financial results year to date in 2015 enabling management to execute on several key strategic objectives. These included delivering a strong share buy out price to our remaining public shareholders, creating a simplified corporate structure to better serve our clients and our business, and expanding Timios' presence in California.
Trevor Stoffer, CEO of Timios Holdings Corp. stated, "We have been working for over a year on simplifying our corporate structure while at the same time strengthening our financial position. We set some big goals at the start of 2015 and the management team has delivered on all of them."
Richard Thomas, President of Timios Title, commented, "We are excited for the new expansion of our license, and continuing to build on the foundation of our California heritage that dates back over 125 years. Glenn County Title Company was founded in 1891. After joining the Timios team in June 2013, we are finally able to announce the fulfillment of our vision together to carry our values and service across the great state of California. We are excited to bring this expanded service offering to our loyal clients as we continue to build on our market share growth in California."
Timios Holdings Corp. consolidates the results of its 100% owned subsidiary Fiducia Real Estate Services, Inc., which owns 100% of Timios, Inc., Timios Appraisal Management, Inc. and Timios Default Services, Inc. As noted above, Timios, Inc. owns 100% of Timios Title, a California Corporation, formerly known as Glenn County Title Company.
About Timios Holdings Corp.
Timios Holdings Corp., through its subsidiaries, provides real estate products and services by delivering superior service and customized solutions. For more information about Timios Holdings Corp. and its' subsidiaries, please visit www.timios.com.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although HOMS believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.
Timios Holdings Corp.
Ross English (972) 384-4437
SOURCE Timios National Corporation