SOURCE: Integrated Freight Corporation

Integrated Freight Corporation

May 05, 2016 14:01 ET

IFCR Withdraws From Acquisition Offer of NJ Based Carrier

Cites Discovery of Safety-Related Concerns

DANBURY, CT--(Marketwired - May 5, 2016) - Integrated Freight Corporation (OTC PINK: IFCR) today announced that this week it has withdrawn its plan to acquire a $5,000,000 Newark, NJ motor carrier based upon the acquisition candidate's current safety record.

"The most important concern for any motor carrier should be its safe operating practices that protect the welfare of the carrier's employees, its customers, and the public," said Hank Hoffman, President of Integrated Freight Corporation. "During the course of our due diligence process, our acquisition team recognized practices and procedures at the target company that are inconsistent with our core beliefs regarding public safety within our industry. Making the necessary changes would be expensive, time-consuming, and would create an exposure that management believes is inconsistent with the best interests of Integrated Freight and shareholders."

David N. Fuselier, CEO of Integrated Freight, said, "We are not disappointed as this demonstrates that our acquisition and due diligence process works. IFCR is reviewing additional acquisition candidates and will continue to seek quality niche carrier candidates that recognize safety and are a good strategic fit within our organization."

About Integrated Freight Corporation

Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.

Forward Looking Statements

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.

We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.