NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) – Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) announced that FreightHub, Inc. (Fr8Hub), a North American transportation logistics technology platform company focused on the U.S. Mexico Crossing Concentrated – Frontier Shipping, with which Hudson Capital has signed a definitive merger agreement, is partnering with RC Control to address one of the greatest challenges in US-Mexico cross-border freight traffic: seamless visibility.
“The Fr8Hub mobile app gives our users 24/7 visibility and the integration of RC Control complements our mobile app to give customers the confidence that they can track their cargo the same way on both sides of the US-Mexico border . “Said Javier Selgas, CEO of Fr8Hub. “Now our carriers in both the US and Mexico have multiple tracking options that provide both transparency and time management. This is something that transport companies have needed for years and we are glad that we can be the solution to their needs. “
Fr8Hub offers solutions through collaborations such as the one with RC Control for times when network operators cannot access the mobile app, be it with a low battery or connectivity problems. Fr8Hub plans to roll out many more exciting technology and service improvements by the end of 2021 that will be geared towards both the operator and the customer.
Via RC control
RC Control was founded in 1997 with the idea of increasing security in the logistics and transport industry. RC Control is based in Mexico with offices in Colombia, Costa Rica, Guatemala, and the United States. RC Control helps to reduce the share of risk and helps companies to make the best decisions regarding the hiring of their staff and security within the supply chain.
About FreightHub, Inc.
FreightHub, Inc. (Fr8Hub) makes shipping easy, transparent, and efficient. Fr8Hub is a transportation logistics platform company focused on truckloading for domestic and cross-border markets in Mexico, the US and Canada. As an innovative digital freight marketplace, broker, transportation management system (TMS) and public API, Fr8Hub uses its proprietary technology platform to connect shippers and shippers, significantly improving matching and operational efficiency through innovative technologies such as live pricing and real-time tracking.
About Hudson Capital Inc.
Hudson Capital Inc. (formerly known as China Internet Nationwide Financial Services Inc. (NASDAQ: HUSN)) was founded in 2014 and began providing financial advisory services to small and medium-sized businesses. Traditional businesses include commercial payment advisory services, bank loan brokerage, and international corporate finance advisory services that help clients meet their commercial payment and investment needs. For more information about Hudson Capital, see Hudson Capital’s SEC filings at www.sec.gov.
In connection with the proposed merger, Hudson Capital intends to file relevant filings with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 (the “Form S-4”) filed with the SEC on December 12th November 2020, amended on December 31, 2020, February 8, 2021 and May 18, 2021 and contains and serves as a proxy statement / prospectus for the shareholders of Hudson Capital and as a prospectus for the shareholders of Fr8Hub. Immediately after Form S-4 is declared effective by the SEC, Hudson Capital will send the final proxy / prospectus and a proxy statement to each shareholder who is eligible to vote at the special meeting on the merger and the other proposals listed in the proxy. HUDSON CAPITAL SHAREHOLDERS URGENTLY READ THESE MATERIALS (INCLUDING ANY MODIFICATIONS OR ADDITIONS THEREOF) AND ALL OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MERGER, WHICH WILL NOT BE ADDED TO HUDSON CAPITAL FREIGHTHUB AND THE FUSION. The final proxy statement / prospectus and other relevant materials relating to the merger (when they become available) and all other documents filed by Hudson Capital with the SEC are available free of charge on the SEC’s website (www.sec.gov).
Participant in the tender
Hudson Capital and its directors and officers may be regarded as participants in the solicitation of proxies from Hudson Capital shareholders in relation to the merger. A list of the names of these directors and officers and a description of their holdings in Hudson Capital are included in the prospectus / power of attorney for the proposed merger and are available at www.sec.gov. Additional information on the interests of these participants will be included in the prospectus / power of attorney for the proposed merger, if available. Information about the directors and executive officers of Hudson Capital and their holdings in Hudson Capital common stock is contained in Hudson Capital’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 15, 2020. These documents can be obtained free of charge from the sources listed above.
Fr8Hub and its directors and officers may also be considered participants in the solicitation of proxies from Hudson Capital shareholders in connection with the proposed merger. A list of the names of these directors and officers and information about their interests in the proposed merger are contained in the prospectus / power of attorney for the proposed merger and are available at www.sec.gov.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. Actual results by Hudson Capital and Fr8Hub could differ from their expectations, estimates and projections. Consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “can”, “will”, “could”, “should” ” believes, “” forecasts, “” potentially, “continues,” and similar expressions (or the negative versions of such words or phrases) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Hudson Capital and Fr8Hub’s expectations regarding future performance and expected financial impact of the proposed acquisition, the fulfillment of the closing conditions of the proposed acquisition, and the timing of the completion of the proposed acquisition.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond the control of Hudson Capital and Fr8Hub and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of events, changes or other circumstances that could result in the termination of the definitive Merger Agreement (the “Agreement”); (2) the outcome of legal proceedings that may be initiated against Hudson Capital or Fr8Hub following the announcement of the Agreement and the transactions envisaged therein; (3) the inability to complete the proposed acquisition, including failure to obtain the consent of Hudson Capital and Fr8Hub shareholders, certain regulatory approvals, or other conditions for entering into the agreement; (4) the occurrence of an event, change or other circumstance that could result in the termination of the Agreement or otherwise cause the Transaction not to be completed; (5) the impact of the COVID-19 pandemic on Fr8Hub’s business and / or the ability of the parties to complete the proposed acquisition; (6) the inability to maintain or maintain the listing of Hudson Capital’s common stock on the Nasdaq following the proposed merger; (7) the risk that the proposed acquisition will disrupt current plans and operations due to the announcement and completion of the proposed merger; (8) the ability to see the anticipated benefits of the proposed combination which may be influenced by competition, among other things, Fr8Hub’s ability to grow and profitably manage growth and retain its key employees; (9) costs related to the proposed merger; (10) changes in applicable laws or regulations; (11) the possibility that Hudson Capital or Fr8Hub may be adversely affected by other economic, business and / or competitive factors; (12) Risks related to the uncertainty in the forecast financial information relating to Fr8Hub; (13) Risks related to the organic and inorganic growth of Fr8Hub’s business and the timing of anticipated business milestones; and (14) other risks and uncertainties disclosed from time to time in the Prospectus / Power of Attorney on Form S-4 in relation to the proposed merger, including those under “Risk Factors” therein filed by Hudson Capital and Hudson Capital’s other filings with the SEC. Hudson Capital advises that the above list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the actual results may differ materially from the results stated or expected in these forward-looking statements. Hudson Capital and Fr8Hub caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this publication. Hudson Capital and Fr8Hub undertake no obligation or obligation to publicly release any updates or revisions to any forward-looking statements to reflect changes in their expectations or changes in the events, conditions or circumstances on which any such statement is based.
No offer or solicitation
This press release does not constitute a solicitation of any power of attorney, consent or authorization in relation to any securities or in relation to the proposed merger. This press release also does not constitute, nor does it constitute an offer to sell or a solicitation of an offer to buy any securities The sale of securities will take place in any state or jurisdiction where such offer, solicitation or sale prior to registration would be unlawful or qualify under the securities laws of any such jurisdiction. No securities may be offered unless it is a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended, or contains an exception to it.
Moriah Shilton or Kirsten Chapman, LHA Investor Relations, firstname.lastname@example.org, 415.433.3777
Hudson Capital contact:
Hon Man Yun, Chief Financial Officer, email@example.com, (852) 98047102