Quality Industrial Corp. (OTCPK:QIND) entered into a definitive stock purchase agreement to acquire 51% stake in Petro Line FZ LLC for $1.53 million on January 27, 2023. Consideration will be paid in three tranches. $0.5 million will be paid within 14 days of signing the Share Purchase Agreement and remaining $1.03 million under the Purchase Agreement will be paid out over the next 12 months in two further tranches conditional upon Petro Line meeting minimum Revenue and EBITDA targets for 2023.

Quality Industrial Corp. (OTCPK:QIND) cancelled the acquisition of 51% stake in Petro Line FZ LLC on August 3, 2023.