Innocap Inc (OTCMKTS: INNO) is running northbound in a hurry and has emerged as a volume leader and among the most exciting and explosive stocks in small caps. Microcapdaily reported on INNO just as it was surpassing the $0.01 mark in October after the Company filed an 8k announcing a reverse merger with Unique Logistics, a global logistics and freight forwarding company. Unique logistics recently secured a $12 million debt financing, has done significant revenues in the past and has offices in Boston, Atlanta, Chicago, Los Angeles, New York and Hong Kong.
INNO meteoric rise follows the tradition of recent reverse merger runners that have become among the most parabolic runners in recent years rivaling only biotechs in their ability to make highly explosive short term moves. In a recently filed 13D/G Ray Sunandan CEO, USA and India at Unique Logistics International disclosed a 73.28% activist ownership in INNO / Innocap, Inc.
Innocap Inc (OTCMKTS: INNO) operating out of Jefferson, Texas is a clean shell that is up to date on their filings and a perfect reverse merger candidate. Previously the Company was operating out of Singapore before the change of control and was helping to assist Solar Resources to recover large shipments of tin from two sunken ships that are believed to be in the waters between Singapore, Indonesia and Malaysia. INNO initially started running on October 14 after the Company filed an 8k announcing a reverse merger with Unique, a logistics services company.
On October 27 Unique Logistics Holdings Inc announced it has become a publicly-traded company via a reverse merger with Innocap, Inc. (OTC: INNO), a fully reporting public company. The Merger was completed on October 8, 2020. Unique Logistics plans to file for a name change and symbol change in the near future to better reflect the new business operations. Unique Logistics completes merger with Innocap, Inc. and closes $2 million of financing for growth.
Unique Logistics is a global logistics and freight forwarding company serving a large customer base in the United States that includes major well-known retailers and other companies that import goods to the United States, export goods from the United States to other countries, or require other supply chain services, including warehousing. Unique Logistics executes sections of the supply chain process for its customers and holds operating licenses issued by US Customs, the Federal Maritime Commission and the Transportation Security Administration for this purpose. Unique Logistics has offices throughout the United States and employs over 90 staff.
Unique Logistics’s services include Air Freight services, Ocean Freight services, Customs Brokerage and Compliance services, Warehousing and Distribution services, Order Management, and Air Freight Services. Operating as an Indirect Air Carrier (IAC) or an airfreight consolidator, Unique Logistics provides both time and cost-effective air freight options to its customers. An expansive global network enables the Company to offer door to door service enabling customers to benefit from our expert staff for guidance with the physical movement of cargo and documentation compliance. Cargo space is booked with the airline ahead of time and arrangements are made to receive the cargo into a designated warehouse. Unique Logistics is a licensed United States customs broker ensuring importers are compliant with all required regulations. The Company operates warehousing facilities in Santa Fe Springs, CA and in Jamaica, NY and plans to expand such services through its own managed facilities. Unique Logistics also provides warehousing and distribution services through third party facilities.
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In connection with the Merger, on October 8, 2020, INNO, Star Exploration Corporation, a Texas corporation and Paul Tidwell former Chief Executive Officer of INNO, an individual in his capacity as the Split-Off Subsidiary purchaser, entered into a Split-Off Agreement. Pursuant to the terms of the Split-Off Agreement, INNO, as seller, in consideration of the cancellation of 45,606,489 shares of the Company’s common stock, any and all preferred stock issued or outstanding and the assignment and assumption of $797,000 of INNO’s liabilities, sold to Mr. Tidwell all of the issued and outstanding shares of the Split-Off Subsidiary including all assets related to INNO’s prior business.
On October 8, 2020, and on October 14, 2020, respectively, the Company entered into Securities Purchase Agreements with investors pursuant to which the Company sold to the Investors 10% secured subordinated convertible promissory notes, realizing gross proceeds of $2,000,000 and warrants to purchase shares of the Company’s common stock.
Mr. Sunandan Ray, the new Chief Executive Officer of “INNO” stated “We are very pleased to announce the completion of Unique Logistics’ merger with INNO. Becoming a public company is a key element of our growth strategy, and the completion of this merger is a significant accomplishment for Unique Logistics. A public listing will provide us with greater access to capital, enhance our ability to attract additional talent to our management team and will allow us to use our public equity to execute on our future acquisition strategy. We would like to thank our existing INNO shareholders and welcome our new shareholders. This merger is an important milestone as we continue to build shareholder value.”
$INNO continues to be a beast!
— neuro (@TdotinUSA) November 2, 2020
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Currently running northbound in a hurry INNO is an exciting story developing in small caps; the Unique Logistics reverse merger took place on October 8 at which time the Company secured gross proceeds of $2,000,000 in exchange for 10% secured subordinated convertible promissory notes to investors. The new Copmany, Unique Logistics Holdings which operates through its wholly owned subsidiaries, UL ATL, UL BOS and UL NY together with “UL ATL”, UL BOS and Unique Logistics Holdings, is a global logistics and freight forwarding company. Unique logistics recently secured a $12 million debt financing and the Company has offices in Boston, Atlanta, Chicago, Los Angeles, New York and Hong Kong and has done significant revenues. Reverse merger stocks are some of the hottest plays in small caps in recent years rivaling only biotechs in their ability to make highly explosive short term moves. So far INNO has been no exception. We will be updating on INNO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with INNO.
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Disclosure: we hold no position in INNO either long or short and we have not been compensated for this article.