NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Unique Logistics International, Inc. (formerly Innocap, Inc.) a global logistics and freight forwarding company, today announced the filing of its Current Report on Form 8-K/A (the "Current Report") which included our May 31, 2020 audited financial statements. The financial statements included the three-day operating results of the companies that we acquired on May 29, 2020. Management has started to execute on the mission to build the business of the acquired companies and implement the synergies to ensure that our planned growth and cost efficiencies result in financial returns for our shareholders.

In addition, our Current Report included pro-forma financial statements that highlight what the statement of operations and balance sheet would have looked like as of May 31, 2020 had the acquisitions and reverse acquisition occurred on the first of the fiscal year.

Pro forma highlights include:

• Total revenues of $115.1 million
• Total assets of $35.9 million
• Stockholders' equity of $1.3 million
• Loss from operations of $1.4 million

We are excited to execute and realize the synergies we have identified, building the acquired businesses and delivering the results of Management's business plan. On January 14, 2021 we completed a name change and symbol change to better reflect our business.

We intend to file our November 30, 2020 Quarterly Report on Form 10-Q within the next several days. Sunandan Ray, the Company's Chief Executive Officer added: "Looking ahead in 2021, we expect our momentum to continue, driven by organic growth, expansion of our professional team and actively pursuing other synergistic initiatives. We look forward to sharing exciting developments with our shareholders throughout the coming year."

About Unique Logistics International, Inc.

Unique Logistics International, Inc. (OTC: 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.

Important Cautions 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. Although 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 Conversion Labs, 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.