Concord, Ontario, December 22, 2020 – – Ultrack Systems Inc. (OTC PINK: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to update the Company’s valued shareholders concerning ongoing and projected corporate developments moving into 2021.
ROLLOUT OF NEW ELD (Electronic Logging Device) PRODUCT AND SERVICES:
Specifically, the Company is planning the rollout of its ELD in Q1. The ELD market is currently booming because of the vast number of growing commercial fleets coupled with new Canadian national mandate and requirements. Many countries including the USA and Canada have begun mandating hardware that connects to a vehicle’s engine to record driving hours and other data. The ELD hardware is only as good as the software it pairs with and Ultrack provides the most robust software currently available in this growing industry. Especially important moving into 2021 is for ELD’s to offer data that is specific to trucking industry and Ultrack is already there and ahead of the curve. Ultrack will be at the forefront of tracking hardware and software as fleets evolve from combustion engines into the EV transportation industry.
Ultrack plans to significantly expand its sales force across much of Canada in conjunction with the new ELD rollout. Additionally, as part of our new marketing initiative the current Ultrack website will be redesigned and enhanced.
EXPANSION INTO USA:
With Ultrack’s strategic partnership with TELUS (NYSE: TU) (TSX: T) now secured the Company is leveraging the power of this relationship to lay groundwork with other major corporations for expansion into other countries, especially the USA. Ultrack is actively pursuing a USA rollout of its products and services and will be devoting Q2 to achieving this specific goal.
Ultrack CEO Michael Marsbergen commented: “In order to provide the whole suite of potential services that Ultrack offers we will rely at least somewhat on the infrastructure of an existing tech/telecommunications giant. Having forged a partnership with TELUS that is currently working seamlessly and successfully gives us confidence and more open doors to do more of the same business in other countries. Since we have already proven ourselves in Canada, it just makes sense for us to begin aggressively marketing and moving into the USA. The GPS tracking and fleet management market in the USA is roughly 10 times the size of the Canadian market. I am committed to gaining a substantial footprint in the USA.”
Investors can look forward to consistent updates about Ultrack’s specific plans and progress as we reach important milestones in our efforts to expand into the USA marketplace.
REBRANDING VEXXAR ACQUISITION UNDER ULTRACK’S EXISTING BLIPTRACK HOLDING:
Ultrack Systems is currently rebranding our Vexxar acquisition to “BliptrackGPS,” which is currently a wholly owned brand/division of Ultrack. The Company announced the completion of the Vexxar acquisition on December 1, 2020. Absorbing the Vexxar technology into Bliptrack allows the Company to expand its existing suite of products and services immediately. Furthermore, the existing client base of Vexxar provides additional ongoing monthly revenue. Ultrack Systems believes this could prove to be one of the most important acquisitions the Company has ever made and there will undoubtedly be more to share in 2021 about the ongoing progress of the rebranding and absorbing of Vexxar into our own BliptrackGPS and what it means for Ultrack’s bottom line.
CEO Marsbergen commented on the Vexxar acquisition: “Ultrack is still agile enough to move quickly when the right potential acquisitions cross our desk. But we are now big enough to confidently approach any future acquisition deal with the kind of buying and negotiating power that will assuredly add value to the Company and our shareholders. I hope that investors are beginning to see the vast potential of our Company and my commitment to taking this Company to a higher level. Frankly, the time is right. We’ve been largely silent for years while quietly plugging away in our niche sector, gaining a loyal customer base, and evolving with the times. But now our niche sector is booming and our reputation has catapulted to the next level because of 12 years of integrity, quality, and our commitment to staying on the leading edge of tech. I am so proud of Ultrack’s progress as we move into 2021 and am genuinely excited for our Company and our valued shareholders because of our bright prospects.”
As always, the Company invites current and future shareholders to check back regularly at our website http://ultrack.ca Facebook page www.facebook.com/UltrackSolutions and Twitter page https://twitter.com/UltrackI.
Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Contact: Ultrack Systems, Inc