Ultrack Explores Synergistic Acquisitions While Nearing Imminent ELD Certification

Rhea-AI Summary

Ultrack Systems Inc. (OTC Pink: MJLB) announced on February 10, 2022, its ongoing discussions with a consulting firm representing various U.S. companies for potential strategic acquisitions. These companies operate in similar markets, creating opportunities for mutual growth. Ultrack's CEO highlighted that the acquisitions could significantly enhance Ultrack's fiscal value. The company reported that its ELD certification progress has increased from 71.5% to 78%, moving towards completion. Ultrack continues to focus on expanding its fleet-management GPS tracking solutions.

Positive

• Engaging with U.S. firms for strategic acquisitions to enhance growth.
• Potential acquisitions may significantly improve Ultrack's fiscal strength.
• Progress on ELD certification has increased to 78%, nearing completion.

Negative

• None.

Concord, Ontario, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Ultrack Systems Inc. (OTC Pink: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce that Ultrack has enjoyed multiple meetings with a consultant firm representing United States companies looking to explore the mutually beneficial opportunities a strategic acquisition by Ultrack would provide to each unique target company.

The diverse USA companies all operate within similar horizontal markets as Ultrack does and Ultrack feels strongly about the symbiotic corporate growth prospects of a formal alliance with each target company. Ultrack has performed cursory due diligence on the companies and consistent, open dialogue remains ongoing.

Ultrack CEO Michael Marsbergen enthusiastically reported: “Ultrack is most definitely not standing still while waiting to clear the ELD certification hurdle! Simply put, we are endeavoring to add exponentially more value to Ultrack by absorbing seasoned USA companies in-line with Ultrack's mission and brand. Through these potential acquisitions, Ultrack is taking ambitious steps to ensure that once we do receive the coveted Holy Grail of approval, the deployment of our superior ELD device will be swift. But as we actively await this, each one of these companies would add tremendous fiscal value and immediately serve to enhance Ultrack's bottom line. The companies we are in talks with would all serve to play an integral part in the expansion of Ultrack and our ELD but more importantly each one of these companies are impressive in its own right with years of financials and proven business models under their respective belts."

The Company stated in a corporate tweet on February 1 we know based on firm data from the testing agency that Ultrack's certification is 71.5% completed. That number is now closer to 78% 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 2021 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

FAQ

What recent acquisition strategy is Ultrack Systems Inc. pursuing?

Ultrack is exploring potential strategic acquisitions of U.S. companies that operate in similar markets.

How much progress did Ultrack report in their ELD certification process?

Ultrack reported that its ELD certification progress has improved from 71.5% to 78%.

What is the expected impact of the potential acquisitions on Ultrack's business?

The potential acquisitions are expected to enhance Ultrack's fiscal value and support its growth objectives.

When did Ultrack announce its acquisition discussions?

Ultrack announced its acquisition discussions on February 10, 2022.