Business
URAL TO ACQUIRE 100% OF FUSIONTECH21 INC. AND APPOINT NEW DIRECTOR
URAL TO ACQUIRE 100% OF FUSIONTECH21 INC. AND APPOINT NEW DIRECTOR.
About this update from United Rail, Inc.
[{"type":"text","content":"URAL TO ACQUIRE 100% OF FUSIONTECH21 INC. AND APPOINT A NEW DIRECTOR GREEN VITALITY INVESTMENT HOLDINGS INC. (FORMER NAME: UNITED RAIL INC. – OTCMarkets TICKER: URAL) LAS VEGAS, NV, FEBRUARY 12, 2021Further to the announcement of December 16, 2020 that the company announced the establishment of a UK joint venture as a 51% owned subsidiary and the other 49% of the JV will be owned by the URAL majority shareholder and parent ZAMS ASSET MANAGEMENT SERVICES LTD, the company commenced discussion prior to December 31,2020 and subsequently is negotiating a contract to acquire 100% of the issued and outstanding shares in Fusiontech21, Inc, a company incorporated under the laws of Indiana, USA (“Fusion”). Fusion will become a wholly owned subsidiary of the Company and its operations and financial transactions will be incorporated on a consolidated basis. The Fusion acquisition was an opportunity to establish subsidiary operations for the Company in the USA and it brings a clean vehicle owning certain trademarks and intellectual property rights. Fusion has received US Federal aid under the Covid assistance programmes and will apply for additional assistance to support its busines operations and employment objectives. The acquisition would be funded by issue of Company common stock in the amount of 100,000 restricted shares on deal close.As with the Contec and Skywalker Hi-Tec Ltd JV in the UK, the company is also currently seeking and investigating acquisitions of other suitable businesses in the USA.The company expects to be able to have access to and input from new technology ideas, innovations and developments by mixing in the local science and technology scene. We expect this connection will also assist us to be able to take benefit for the agri-business sector of our company’s business by experimenting with and developing construction and other materials from the hemp growing operations.More information is to be announced on the proposed acquisitions in due course as it is still commercially sensitive to make any further announcement until and if the particular transactions close.DIRECTOR APPOINTMENTAs part of the Fusion acquisition, the Company is in continuing discussions with Mr B Allen Brown, Jr the director and 100% stock owner of Fusion for his proposed appointment as Director of the Comp...