Mercator Transport Agrees To Acquire Toti Berg Freight Services
Expected to acquire all the assets, including goodwill, as well as all rights in the permits and licenses held by Toti Berg
Mercator Transport Group Corporation, that provides transport brokerage, international logistics and distribution services, has concluded an agreement for the acquisition of all the assets of the corporation Toti Berg Freight Services Limited (Toti Berg) through its wholly owned subsidiary, Mercator Ghana Limited.
According to the agreement, Mercator Ghana Limited will acquire all the assets, including goodwill, as well as all rights in the permits and licenses held by Toti Berg, such as its Ghanaian Licence for Custom-House Agent. Mercator Transport Ghana assumes none of the liabilities of Toti Berg.
This acquisition is concluded at a purchase price of CAD$100,000, payable through the issuance of 250,000 common shares of the share capital of Mercator Transport, at a unit price of CAD$0.40 per share to the vendor. This transaction is subject to the approval of the TSX Venture Exchange.
Toti Berg is a Ghanaian corporation that is engaged in transport brokerage and transit operations, held by Messrs. Messrs. Addae and Bedu, along with certain employees of Toti Berg, will join the team of Mercator Ghana Limited, managed by Mr. Sudarsanan Pankajakshan.
Mr. Addae has more than 20 years of experience in the field of transport brokerage, including 11 as manager for international scale corporation. He is also vice-president of the Ghana Institute of Freight Forwarders (GIFF). For his part, Mr. Bedu has been specialized in transport and customs brokerage, as well as in logistics in Ghana for the last 22 years. Both of Messrs. Addae and Bedu are licensed members of the GIFF.
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