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Unique Logistics to Acquire Operating Subsidiaries and Affiliates of Former Parent company.

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MANews-(C)2009-2022

New York-based global logistics and freight forwarding company Unique Logistics International, Inc. (OTC: UNQL) has entered into a stock purchase agreement to acquire from Hong Kong-based Unique Logistics Holdings Ltd., all of seller's share capital in nine of seller's subsidiaries and affiliates, the company said.

As consideration for the acquisition, the company agreed to pay the seller USD 21m as cash consideration and issue to the seller a USD 1m promissory note.

The acquired companies are located in China, Hong Kong, India, Taiwan, the United Kingdom and Vietnam. They are all specialist logistics companies in their country of operations.

The closing of the transaction contemplated by the purchase agreement is subject to various conditions set forth in the purchase agreement including but not...

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