Unique Logistics International, Inc. entered into sale and purchase agreement to acquire 70% stake in ULI (South China) Limited from Unique Logistics Holdings Limited.

Unique Logistics International, Inc. (OTCPK:UNQL) entered into sale and purchase agreement to acquire 70% stake in ULI (South China) Limited from Unique Logistics Holdings Limited for $4 million on September 13, 2022. As part of the agreement, Unique Logistics International will acquire 7000 Ordinary Shares of ULI (South China) Limited. In related transaction Unique Logistics International, Inc. entered into sale and purchase agreement to acquire multiple subsidiaries of Unique Logistics Holdings Limited.

The aggregate consideration for the purchased shares pursuant to the Local Purchase Agreements is USD 22 million. The transaction is subject to governmental, regulatory and corporate authorizations, third party approvals, board of directors of both Unique Logistics International and ULI (South China) Limited.