Network 1 Financial Group, Inc. (NTFL)

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The Company has successfully executed a binding Purchase And Sale Agreement (“Agreement”) through a portfolio company of a multi-generational family office based in Dubai, United Arab Emirates. This family office has investments and operating businesses that include dry shipping, crude shipping, natural resource development, construction, civil engineering, and banking. Their investment into Turner will focus on bitumen (also known as asphalt), and the supply chain and transportation of bitumen.

“We are thrilled that the closing process has started and we can now move forward with building a globally integrated bitumen shipping company. With the current and impending demand for global infrastructure spending, spurred by global growth and the current US President’s $1 trillion infrastructure plan, we believe this is an ideal time for Turner to enter the bitumen sector,” stated Network 1 Securities investment banker, Adam Pashok.