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ANKARA, Turkey, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Protect Pharmaceutical Corp. (OTC: PRTT) ($PRTT) (“Company”) announces it completed the necessary documentation to finalize the merger with KARINCA Logistics - www.karincalogistics.com.
PRTT’s Management believes that the KARINCA Logistics merger should add substantial value to the Company’s overall operations, and it brings a talent pool of professionals, dedicated to the successful integration of the combined business operations. KARINCA Logistics brings a large network of operations, many very valuable routes, and opens sales opportunities throughout Europe and Asia.
To complete the merger, the Company issued 1,000,000 additional Preferred Shares, which have 100 to 1 common share voting rights but are not convertible to common shares. There was no common share dilution to complete the merger.
Ozgur Ozcan, PRTT's CEO, stated, “with the merger complete we are focused on finalizing the PCAOB audit. The audit will allow the Company to file a FORM 10 registration statement to resume reporting with the SEC in preparation to uplist to an exchange. This process is our priority as a company.”
The merger of Atlantic Logistics and KARINCA Logistics expects to bring in new revenue streams and profitability to the Company during the remainder of this calendar year
About Atlantic Logistics:
Atlantic Logistics strives to provide innovation in service, a business model that gives customers and partners the technology and commercial intelligence to support creative ideas. The team remains dedicated to keeping the company’s systems on the cutting edge and constantly evolving business to serve our clients better. Atlantic Logistics use robust technology to track inventories, manage customs compliance, and track shipments worldwide. Atlantic Logistics is the answer to any logistics needs you might have. Atlantic Logistics transports products via land, air, and sea using trucks, ships, rail, and air, rapidly growing into a worldwide logistics company with services across Europe, Asia, South America, and Central America - www.atlantic-logistics.net.
About KARINCA Logistics:
KARINCA Logistics is one of Turkey’s leading companies that provides international transportation, domestic logistics, customs clearance, energy and project logistics services. Management continues to seek the latest solutions, technologies and innovations in the logistics sector. With its international logistic and transportation service, land, sea and air, KARINCA remains committed to customer satisfaction at its highest level - www.karincalogistics.com.