ACQUISITION PLANS EXPANDED FOR OPEN ROAD SHIPPING
Mar 30, 2017
OTC Disclosure & News Service
Bellevue, WA -
Acquisition PlanS Expanded for Open Road Shipping
Expanded Plans Include App Service for Matching Truck Drivers With Shippers Affordably
Bellevue, WA March 30, 2017 Open Road Shipping, Inc. (OTC PINK:COWI) issued the following Acquisition Update..
On March 16, 2017, the Corporation announced that that it had signed a Letter of Intent to acquire a privately held truck shipping and logistics company in upstate New York. The assets include proprietary web-based mobile application software that simplifies the selection of brokers and optimizes the cost of shipping of products domestically across the United States.
This proprietary web-based mobile application software helps address the challenges of a trucking industry that is highly fragmented, and can help Open Road Shipping efficiently integrate acquired subsidiary shipping companies in the future that can collectively deliver excellent customer service.
This proprietary mobile app can match truck drivers with shippers, thereby making it easier for shippers to find drivers, said Lloyd Spencer, CEO of Open Road Shipping. In addition to improving the efficiency of our combined operations, this mobile app can be offered as a subscription application service for any shipping and logistics company.
The Corporation is pleased to report that progress is being made toward completion of the acquisition by May 2017.
About Open Road Shipping, Inc.
Open Road Shipping, Inc., formerly known as CoroWare, Inc., is focused on revolutionizing the logistics and transportation industry with products and services based on disruptive technologies such as mobile-based freight brokering and Industrial Internet of Things (IIoT) for freight tracking and monitoring.
The company's common stock trades under ticker symbol "COWI" on OTC Markets.
For more information, please visit www.openroadshipping.com
Forward-Looking Statement
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Open Road Shipping Investor Relations
(800) 641-2676, option 3
investor@openroadshipping.com
This release includes additional documents. Select the link(s) below to view.
PRESS - Open Road Shipping Acquisition Update 2017-03-30.pdf
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