RushNet, Inc. (RSHN) and XYZ Hemp, Inc. (GRPS) are pleased to Announce the Acquisition of GreatRateFreight, Inc.
Palm Coast, FL, Nov. 07, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE-- RushNet, Inc. (OTC Pink: RSHN), and XYZ Hemp Inc. (OTC Pink: GRPS) jointly announce acquisition of GreatRateFreight, Inc. (GRF). While GRF was acquired by RushNet, XYZ Hemp will enjoy a portion of revenues and will contribute to its success.
Chuck Balandrin, GRF’s CEO, explains, "GRF is geared to provide two major sources of revenue for the companies. Its target audience is the 7,000,000 truckers in North America. CDL Life will run an editorial spotlight to be released within the next two weeks. CDL Life has a following of more than 3,000,000 truck drivers and enjoys an overall footprint exceeding 20,000,000 monthly views. CDL Life has invited GRF to be its in-house load board, making GRF its only approved sponsored partner in the load board world. Additionally, I am being interviewed next week, on WGN radio, AM720, to discuss this ambitious endeavor, as part of a program entitled ‘On the Road with Dane Neil’. The schedule for airing of that interview will be disclosed very shortly, by twitter release.”
Mr. Balandrin continued "GRF’s unique platform is designed to significantly enhance profits and opportunities for both truck drivers and shippers alike. To accomplish this, it is also developing an easy to use app called 'The Truck Stop’ for the use of truckers and their clients. GRF will soon roll out its membership program for independent truckers which is designed to create significant for RushNet, XYZ Hemp, and GRF while providing significant benefits, including discounts and profit enhancements for truck drivers."
Defining the target market, Mr. Balandrin explained, “Of the 7,000,000 truck drivers in North America, 350,000 to as many as 500,000 are independent or owner operators. We are targeting the most common profession in North America, by far.
“We are poised to increase participating member truckers’ gross income by at least 20% and to facilitate savings on trucker related incidentals by approximately 15%,” according to Mr. Balandrin. GRF receives a 20% brokerage fee. For every 50,000 members, based on the 20% revenue assumption and 20% brokerage fee, GRF forecasts annual gross revenue exceeding $60,000,000, with profits exceeding $30,000,000 annually. In addition, for every 50,0000 members, annual membership fees are expected to exceed $4 million.
Frank DeAngelo, CEO of RSHN, stated, “We are very excited entering the final stages of this acquisition. Not only will we benefit from transport for our own product line, but also from rolling out a proprietary platform to a significant portion of the approximately 7 million truckers nationwide. We offer a beneficial partnership and will generate significant monthly fees from signed-up members. This also helps us to complete the cycle and goal of full vertical integration, seed to delivery strategy.”
Both RSHN and GRPS look forward to providing further updates, including at least one celebrity endorsement.
