Aqua Power Systems Inc (APSI)

[Lowhndcpr]

Winter Park, FL, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Aqua Power Systems, Inc. (OTC: APSI) is pleased to announce today via SEC Form 8-K Filing of a Letter of Intent (“LOI”) that it has entered into exclusive negotiations to acquire all outstanding shares of Tradition Transportation Group, Inc. (“Tradition”) an Indiana based logistics company including relevant subsidiaries and assets.

Tradition is a well-established enterprise providing a multitude of logistical solutions throughout North America pertaining to OTR logistics including freight management, reverse logistics, freight brokerage, dispatching, equipment leasing and dedicated services warehousing with rail access.

Joe Davis of Tradition is quoted as saying: “I am enthusiastic about the planned business combination with APSI in order to further the growth of Tradition’s operations”.

The finalization of the contemplated terms would usher in a new generation of operations for APSI within the high demand United States and North-American logics industry, which within the United States alone; represented 80.4% of freight cost in 2019, totaling a gross freight revenue of $791.7 billion according to the American Trucking Associations.

It is requested of shareholders and other interested parties respect and refrain from contacting Tradition or its employees and affiliates for details relating to the contemplated transaction so as not to interrupt operations and the process of finalizing a transaction. Please direct any inquiries to APSI management with the contact information provided herein.