INNO - Innocap Inc. Year End Message To Shareholders

NEW YORK , Dec. 14, 2020 /PRNewswire/ --

Message from CEO:

"As 2020 draws to a close, I take pleasure in reviewing some of our accomplishments in recent months. In October 2020 , through the merger with Unique Logistics Holdings, Inc. ("ULHI") we acquired a thriving global logistics business. The acquisition comprised three individual companies under ULHI with a substantial United Stated based book of business and an experienced employee base.

We have successfully integrated the three companies under one management team, one operating system and a unified vision of the future. Synergies in services and administration have enabled us to make substantial savings in overhead which will be visible when we publish financial information in the weeks ahead. We have been successful in securing new business contracts and in establishing a business development presence that is driving growth and will continue to do so.

We will continue to grow our United States presence organically, while also seeking to aggressively grow our business through acquisitions within the United States and in key overseas markets resulting in widening our range of services to our customer base and greater control of services in the supply chain of our customers.

We now have well established credit facilities to support our growth and have successfully used our own operating cash flow to make early repayments to debt holders.

We approach the close of a tumultuous year for all of us. On behalf of my Management Team, I would like to thank all of our loyal shareholders and wish each of you and your families a successful 2021 and a better year for the world. The Management of INNO and our dedicated team of employees are committed to your success!"

- Sunandan Ray , CEO

About Innocap, Inc.

Innocap, Inc (OTC: INNO) is a fully reporting publicly-held company. INNO, 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.

Safe Harbor:

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intends," "primary goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the inability of the Company to obtain or maintain the listing of the post-acquisition company's ordinary shares on Nasdaq following the Merger, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

SOURCE Innocap, Inc.