Mississauga, Ontario, Canada, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Precious Investments, Inc. (OTC Markets “PNIK”) (the “Company” or “Precious”) announces that it completed the acquisition of American Freight Xchange, Inc., and American Freight Xchange, Inc.’s wholly owned subsidiary, KRG Logistics, Inc., of Mississauga, Ontario, Canada, a third-party logistics provider focusing on e-commerce fulfillment and transportation for over twenty years.
Ronald Schapps, our Chairman, stated, “We are very excited about our change in direction for the Company. This is step one in building a fully integrated end-to-end logistics and fulfillment company.”
The new Corporate offices for Precious are located at 170 Trader Blvd. East, Mississauga, Ontario, Canada L4Z 1W7.
In addition, Precious has retained new Independent Auditors, the firm of BMKR, LLP, of Hauppauge, NY, a PCOAB member firm, as described in the Company’s 8-K filing, of January 12, 2018, with the Securities and Exchange Commission. Precious is working aggressively with the Auditor to complete the Company’s missing filings, including the audit for the fiscal year 2107, and get the Company current as quickly as possible.
American Freight Xchange, Inc.’s subsidiary, KRG Logistics, is an integrated 3PO and logistics company. KRG Logistics is engaged in the business of the fulfillment of e-commerce transportation and logistics for third parties. American Freight Xchange, Inc. manages the entire “logistics process”. The Company’s freight management program obtains the most effective combination of rates, carriers, tracking and service points to pick up returned products from store and distribution center levels with centralized billing, auditing and claims capabilities.
American Freight Xchange, Inc., through our wholly owned subsidiary KRG Logistics, Inc. (www.krglogistics.com) has the expertise to manage and provide North American Manufacturers and Retailers a true SINGLE SOURCE Supply Chain Solution. Due to our strategic placement in the supply chain relative to the manufacturers, retailers and distributors position, the Company is best suited to provide these services. American Freight Xchange, Inc. customizes freight management and fulfillment programs that provide manufacturers and retailers with the most cost-effective end-to-end services from the moment the shipment authorization is issued to the time the product is shipped and received.
FORWARD LOOKING STATEMENTS
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