(MENAFN- Investor Brand Network) Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”) , an innovative logistics technology solutions company offering its custom-developed Fr8App , an industry-leading freight-matching platform powered by AI and machine learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, today announced that it has come to an agreement with Freight Opportunities LLC. The agreement will see the extinguishment of $906,000 of outstanding promissory notes and accumulated interest as well as $220,000, the remaining balance of Convertible Notes held on Fr8Tech's June 30, 2024, balance sheet. According to the announcement, Freight Opportunities remains an equity investor in Fr8Tech.

“This development is very positive news for Freight Technologies. It is a strong vote of confidence in the long-term prospects of the company and in management's ability to drive real innovation in the logistics industry across the USMCA market. We are excited about the opportunities in front of us and are eager to execute against them in order to deliver long-term results to our stakeholders,” said CEO Javier Selgas.

To view the full press release, visit

About Freight Technologies Inc.

Freight Technologies (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App Inc. (“Fr8App”), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing, real-time tracking, digital freight marketplace dashboards, brokerage matching, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit Fr8Technologies .

NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company's newsroom

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California

310.299.1717 Office
...

About TinyGems

TinyGems
is a specialized communications platform with a focus on innovative small-cap and mid-cap companies with bright futures and huge potential. It is one of 60+ brands within
the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, TinyGems is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, TinyGems brings its clients unparalleled recognition and brand awareness. TinyGems is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TinyGems, text“Gems” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published:
/Disclaimer

TinyGems
Los Angeles, CA

310.299.1717 Office
...

TinyGems is powered by
IBN

MENAFN04092024000224011066ID1108636900