Transportation/shipping management solution provider raises $1.1 Million from Mercator
Tucson, AZ — March 15, 2004 — OrderPro Logistics has secured approximately $1.1 million of equity financing in a private placement to an institutional investor, Mercator Advisory Group, through its designated funds.
The company also issued 1,500,000 three-year warrants exercisable at $.30 to Mercator Advisory Group and its affiliated funds.
OrderPro offers logistics solutions for companies that ship products, as well as for freight carriers. The solution provider created Web-enabled software intended to manage all transport/shipping processes, maximize inbound-outbound savings and complete real-time logistics management services.
Commenting on its latest investment, Harry Aharonian, portfolio manager for the Mercator Advisory Group, said, "After performing our due diligence, we believe there is a substantial opportunity for OrderPro to expand its acquisition roll-up plan and increase its trans-border activities."
Richard Windorski, CEO OrderPro Logistics, said: "We are pleased to find a financial partner the stature of Mercator Advisory Group. Bringing the funding component into the (OrderPro equation), we believe bodes well for the company, its management, and all shareholders as relates to the execution of our business plan, and the ultimate expansion of OrderPro Logistics Inc."