Tiziani is the brother-in-law of Steve Stricker, a veteran on the PGA Tour. Stricker is currently competing at the Bob Hope Classic in La Quinta, California.
The 31-year-old opened a one-stroke advantage over Patrick Moore, who also had a second-round 67. A group of six players lie four shots back, including overnight leader David Laad (72).
Laad is joined by Sonny Skinner (67), Steve Haskins (67), Lucas Glover (68), Mark Slawter (69) and Dave Christensen (71).
Darren Griff is the leading Canadian in the clubhouse. He carded a 69 to stand at 3-under 141.
Defending champion Steve Runge lies at 8-over 154 after a round of 78.
This is the first event of the 2002 Canadian Tour. The tournament is co-sanctioned featuring the top-40 players from the 2001 Order of Merit, 40 other players from around the world and four amateurs.
Although prize money will not count towards the 2002 money list, the winner will pocket a first-place check of $40,000.
After the Panama Open, the Canadian Tour will head to Orlando, Florida, for the Winter Q-School from February 11-15.