Ultrack Signs MOU
To Fully Acquire California Company M-Loan
Inc.
Concord, Ontario, Canada
-- March 30, 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 (MOU) with M-Loan Inc., a
California company ("MLON") which provides
Ultrack the opportunity to fully acquire the target
company.
Under the terms of the MOU
Ultrack Systems would purchase 100% ownership of MLON and MLON
would become a wholly owned subsidiary of MJLB on the day of
closing. 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. MLON has an extensive track record within the trucking
industry and has specialized in financing
sector.
Ultrack CEO Michael
Marsbergen commented on the MOU with M-Loan Inc: "This is Ultrack's
second planned acquisition of an American trucking company. Ultrack
also continues to move toward the final agreement with Power Moves
Transport, Inc. (PWTI). I am highly confident that acquiring
multiple North American trucking companies that are in line with
Ultrack's mission and other existing business adds significant
value for Ultrack's shareholders. I envision a day in the
not-too-distant future of fleets of North American trucks doing
business all under the Ultrack banner. As far as Ultrack's
game-changing ELD certification progress, we are currently at about
the 90% completion mark with the approval agency, and we have
received additional testing clarification from Transport Canada.
While we await the final approval, I continue to add value to the
Company."
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