LiteLink Technologies Inc. (“LiteLink“) (CSE:LLT) (OTC:LLNKF) (FRA:C0B), a key player in logistics and supply chain platforms, is pleased to announce that it has entered into a non-binding letter of intent (“LOI“) with Control Union Guatemala S.A. (“Control Union“), the terms of which provide for a strategic commercial relationship between the parties, including a joint go-to-market with LiteLink’s 1SHIFT Logistics platform in Central and South America.
Control Union has been operating for over 100 years in the field of logistics, quality, certifications and risk management. To this day, Control Union operates in more than 70 countries and employs more than 4,000 people around the globe. Control Union covers all aspects of the supply chain in many industries including agriculture, energy, forestry, sustainability and textiles.
Under the terms of the LOI, LiteLink would provide Control Union with all the tools and materials necessary to go-to-market with 1Shift Logistics to their existing client base, significantly reducing friction and the cost of acquisition for the platform. The parties would determine revenue split upon the successful completion of a trial customer, and each party would bear their own cost of sales. The proposed agreement would remain in effect for the first 24 months, with auto renewal for successive 12 month terms. LiteLink and Control Union have also defined their first two target customers that would validate the transition from a letter of intent to a definitive commercial agreement.
“1SHIFT Logistics is fast and efficient logistics made easy for Freight Forwarders, Shippers, Distributors and Carriers,” said Malcolm Graham, Regional Director of Control Union Central America. “The platform with its web, mobile driver solutions, and cold chain sensors will open up an untapped supply engine for established shippers and carriers. With Control Union’s deep supply chain experience and network paired with the 1SHIFT Logistics platform I can see how we can drive even more value and drive end to end trust and operational efficiencies.”
“By providing a blockchain track and trace solution, 1SHIFT Logistics is not only giving the desirable visibility to all the actors in the chain, but also to the insurance companies covering these operations, representing more controls and therefore a notorious decrease in operational risks”, stated Julián de Ambrosi, Country Manager of Control Union Mexico.
“I was quite impressed with the level of process, maturity and global adoptions of the Control Union team members that I met at the Produce Marketing Association late last year in Anaheim, California,” said LiteLink CEO Ashik Karim. “Control Union has the scale, discipline and background of ensuring goods have minimal risk during transport. It was a natural fit to pair our 1SHIFT visibility and marketplace that has the backing of immutable proof of blockchain with a global leader commodity certification of quality.”
SOURCE LiteLink Technologies Inc.