SOURCE: Integrated Freight Corporation

September 19, 2011 09:00 ET

Integrated Freight Locks Up 49.5% of Its Common Stock

SARASOTA, FL--(Marketwire - Sep 19, 2011) - Integrated Freight Corporation ("Integrated Freight" or the "Company") (OTCBB: IFCR), a rapidly growing motor freight company, today announced that executive officers and certain private investors and outside shareholders have entered into a six month lock-up agreement with the Company. As of September 16, 2011 Integrated Freight has effectively locked up and restricted from trading a total of 18,966,170 shares of the Company's common stock, collectively representing approximately 49.5% of the Company's 38,332,083 total shares outstanding. This total outstanding number includes 2,000,000 shares currently in rescission related to the Triple C Transport transaction and 750,000 shares issued but not earned related to a pending acquisition. The restricted period commenced September 16, 2011 and will be in effect until March 16, 2012 with the option to mutually extend the period for another six months. The lock up agreement stipulates that executing shareholders will not directly or indirectly trade, sell or otherwise transact in their portion of the common shares of the Company during the stated period.

"We are enormously gratified by this show of support for our Company's business model and acquisition plan. The continued belief in our management team reflected by the execution of these lock up agreements cannot be overstated," said Paul Henley, CEO of the Integrated Freight.

About Integrated Freight Corporation

Integrated Freight Corporation (OTCBB: IFCR) is a Sarasota, Florida headquartered motor freight company providing long-haul, regional and local service to its customers. The Company specializes in dry and refrigerated truckload services, operating primarily in well-established traffic lanes in the Upper Midwest, Pacific Northwest, Texas, California and the Atlantic seaboard. Integrated Freight was formed for the purpose of acquiring and consolidating operating motor freight companies and incorporated in the state of Florida in 2008. Integrated Freight's mission is to build a safe, reliable, high-quality national freight carrier and customized logistics service with a diverse customer base that is well-positioned in growing profitable markets. Integrated Freight completed its fourth acquisition in April of 2011 and recently reported record quarterly revenues for Q1 of the 2012 fiscal year ended June 30, 2011 of $13.0M. For more information, please visit http://www.integrated-freight.com.

Safe Harbor Statement

The foregoing press release contains forward-looking statements, including statements regarding the company's expectation of its future business and earnings, subject to the safe-harbor provisions for forward-looking statements provided in the Securities Exchange Act and the regulations there under. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the company's control. Actual results could differ materially from these forward-looking statements. Additional risks that could affect our future operating results are more fully described in our filings with United States Securities and Exchange Commission. These filings are available at www.sec.gov.

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.

Contact Information

  • Investor Relations Contact:
    IFCR Internal Investor Relations
    Phone: 941-907-8372 x6
    Email: Email Contact