NEW YORK, June 7, 2021 /PRNewswire/ -- Unique Logistics
International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a
global logistics and freight forwarding company, today announced
the signing of a new $30 million
revolving purchase loan with TBK Bank, SSB, a subsidiary of Triumph
Bancorp, Inc. (NASDAQ: TBK) and a Texas State Savings
Bank.
"This new credit facility is a key step forward for the Company
and we expect this to significantly reduce our debt servicing
costs, with a direct impact on our bottom line," said Sunandan Ray, Chief Executive Officer of Unique
Logistics. "We look forward to continuing the aggressive business
expansion we've achieved over the last year."
Under the terms of the new financing, Unique may access up to
$30 million under a revolving
purchase loan at the Prime Rate plus 3%.
Unique concurrently repaid and terminated the Company's prior
$25 million Secured Accounts
Receivable Facility with Corefund Capital, LLC.
ABOUT UNIQUE LOGISTICS INTERNATIONAL, INC.
Unique Logistics International, Inc. (OTCMKTS: UNQL) through its
wholly owned operating subsidiaries, is a global logistics and
freight forwarding company providing a range of international
logistics services that enable its customers to outsource to the
Company sections of their supply chain process. The services
provided are seamlessly managed by its network of trained employees
and integrated information systems. We enable our customers to
share data regarding their international vendors and purchase
orders with us, execute the flow of goods and information under
their operating instructions, provide visibility to the flow of
goods from factory to distribution center or store and when
required, update their inventory records.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended, regarding,
among other things our plans, strategies and prospects -- both
business and financial. While we believe that our plans, intentions
and expectations reflected in or suggested by these forward-looking
statements are reasonable, we cannot assure you that we will
achieve or realize these plans, intentions or expectations.
Forward-looking statements are inherently subject to risks,
uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as "believe," "expect,"
"anticipate," "should," "planned," "will," "may," "intend,"
"estimated," and "potential," among others. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents that
we file from time to time with the United States Securities and
Exchange Commission. All forward-looking statements attributable to
Unique Logistics International, Inc. or a person acting on its
behalf are expressly qualified in their entirety by this cautionary
language.
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SOURCE Unique Logistics International, Inc.