Ultrack Signs MOU
to Acquire East Coast Trucking Company
Concord, Ontario, Canada -- February 18, 2022 -- InvestorsHub
NewsWire -- Ultrack Systems Inc. (OTC
Pink: MJLB), a total fleet-management GPS tracking and
monitoring solution provider, is pleased to announce that Ultrack
has signed a Memorandum of Understanding with an east coast
trucking company which provides Ultrack the opportunity to fully
acquire the target company.
Under the terms of the MOU Ultrack Systems would purchase 100%
ownership of Power Moves Transport, Inc. (PWTI). Both parties will
perform customary due diligence and position themselves for the
closing. A share exchange between the parties will be utilized to
facilitate the closing of the transaction. PWTI has a solid
track-record within the niche trucking industry of transporting
automobiles throughout the United States.
Ultrack CEO Michael Marsbergen enthusiastically explained the
acquisition: "This important 100% acquisition of a seasoned USA
trucking company immediately adds value to Ultrack's bottom line
while expanding our corporate reach into likeminded horizontal
markets. I believe the MOU expresses favorable terms to both
companies and provides tremendous benefits for both companies to
come together as one under the Ultrack umbrella. Furthermore, this
acquisition immediately expands Ultrack's footprint into strategic
USA locations so that Ultrack can be thought of more as a 'North
American' company and not simply a 'Canadian'
company."
The United States trucking industry enjoys the highest GDP in the
world of any trucking industry. The GDP of the USA's trucking
industry alone is higher than that of the entire GDP of many
nations. In 2020, the trucking industry in the US generated $737.3
billion, down from 2019 when it generated $791.7 billion, the
decline likely due to restrictions from the COVID-19 pandemic.
Still, the industry is massive and the outlook remains positive for
future growth.
The Company stated in our recent press release based on firm data
from the testing agency that Ultrack's certification is 78%
completed. That number is now closer to 81% and continues to move
toward 100%.
The Company invites current and future shareholders to check back
regularly at our website http://ultrack.ca, Facebook page:
https://www.facebook.com/UltrackSolutions and
Twitter page: https://twitter.com/ultracki
About MJLB: Located in Concord, Ontario, Ultrack
Systems Inc., (www.ultrack.ca) is a publicly traded
company listed on the OTCMARKETS under the MJLB trading symbol.
Ultrack Systems Inc., is a provider of GPS tracking solutions. We
develop, implement, and distribute electronic monitoring and
tracking systems for companies in leasing, transportation,
construction, disposal, and many other services driven industries.
Our platform includes live tracking, reports, and alerts on a
web-based platform. Our mission is to provide the best fleet
tracking, reporting systems and our commitment to service. The
Company plans to launch a new ELD product in 2022 in partnership
with major corporations that will take the trucking industry by
storm.
Safe Harbor Statement: This Press Release may contain certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company has tried,
whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions.
These statements reflect the Company's current beliefs and are
based upon information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause the Company's
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company
undertakes no obligation to update or advise in the event of any
change, addition or alteration to the information catered in this
Press Release, including such forward-looking
statements.
Email: info@ultrack.ca
Website: http://ultrack.ca
Facebook: www.facebook.com/UltrackSolutions