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Golden Triangle Ventures Announces Key Milestone for Its Logistics Division; Motor Carrier Authority and DOT Licenses Secured
Golden Triangle Ventures Announces Key Milestone for Its Logistics Division; Motor Carrier Authority and DOT Licenses Secured.
About this update from Golden Triangle Ventures Inc.
[{"type":"text","content":"\n LAS VEGAS, Aug. 22, 2024 (GLOBE NEWSWIRE) -- via IBN -- Golden Triangle Ventures Inc. (OTC PINK: GTVH) (“GTV” or the “Company”) is pleased to announce a major development in its logistics division. LE Logistics, LLC (“LE”), a wholly owned subsidiary of Golden Triangle Ventures, has officially secured its Motor Carrier Authority (MC) and U.S. Department of Transportation (DOT) licenses. This achievement positions LE to immediately launch its freight division under the GTV umbrella and commence operations with its initial fleet of assets under a brand-new, clean operating license. The journey towards securing these licenses has been met with both challenges and opportunities. Initially, the Company planned to transfer the existing MC and DOT licenses from Cargo Management Group (“CMG”) to LE Logistics as part of its strategic acquisition. However, due to regulatory requirements from the Federal Motor Carrier Safety Administration (FMCSA), the transfer was not completed, as it required a full merger with CMG — an operation that was not aligned with GTV’s current business objectives. While this regulatory hurdle caused a delay in the Company’s original timeline, it ultimately allowed LE Logistics to officially secure a fresh and unencumbered operating license, setting the stage for a stronger and more compliant operational foundation. With the new licenses in hand, LE Logistics is now primed to execute its strategy of operating a larger fleet of assets, driving increased business cash flow directly through the Company. As a significant next step, GTV is finalizing a comprehensive operating agreement with TK Zarro, LLC, doing business as Cargo Management Group. This agreement will transfer full operational control of CMG’s business operations and revenues to LE Logistics, enabling LE to manage a much broader group of assets under its newly acquired authority. Steffan Dalsgaard, CEO of Golden Triangle Ventures, commented: “Securing these licenses for LE Logistics is a crucial milestone in our ongoing efforts to expand and strengthen our logistics division. Although the path was not without its challenges, the result is a cleaner and more robust operational structure that aligns with our long-term vision for growth. We are now fully equipped to accele...