FreightHub, Inc. Further Advances Technology Platform
Launches new functionalities and process digitization projects
Begins SAP Business One integration
NEW YORK, February 10, 2021 (GLOBE NEWSWIRE) — Hudson Capital Inc. (NASDAQ: HUSN) (Hudson Capital) announced that FreightHub, Inc.(Fr8Hub), a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping with which Hudson Capital has signed a definitive Merger Agreement, continues advancing its technological development efforts by launching new functionalities on its platform and process digitization projects:
Javier Selgas, CEO of Fr8Hub, said, “Developing and leveraging innovative technology is a key element to our growth strategy. We recently doubled the headcount of the Mexico-based development team, which is a tactic designed to allow us to reduce development times in the short term and reduce maintenance costs in the mid-to-long term. The expanded development team has already begun to design solutions that will allow us to provide great value to our carriers, with new functionalities for route optimization and recommendations based on traffic, weather, or road conditions in addition to offering detailed information through our App such as locations to refuel or truck stops to rest, among others.”
GFT (Global Freight Tracking): Fr8Hub has developed GFT, which it believes is a unique and necessary component for improving the logistics industry in Mexico. GFT is a module that interacts with any electronic logging devices (“ELD”) provider on the market. GFT integrates directly with a truck’s global positioning systems (“GPS”), thereby enabling real-time tracking of delivery status through Fr8Hub’s technology platform, even if the driver does not have a smartphone available. This new product also allows Fr8Hub to create and offer to carriers the ability to track all of their assets through its platform or receive the coordinates for locations in or from third-party systems.
Offer Manager: Offer Manager offers new functionality in Fr8Hub’s BackOffice and allows the company to manage offers from carriers, automating and speeding up the quotation process.
SAP Integration: As part of Fr8Hub’s digitization and optimization strategy, the company has begun the implementation and integration of its technology platform with SAP Business ByDesign. When completed, this will make Fr8Hub’s financial processes more efficient and integrated on an end-to-end basis. This will also facilitate integration with the financial systems of customers and suppliers, thereby automating payment and collections processes and reducing costs, time, and human errors.
About FreightHub, Inc.
FreightHub, Inc. (Fr8Hub) makes shipping simple, transparent, and efficient. A transportation logistics platform company, Fr8Hub focuses on truckload freight for domestic and cross-border markets in Mexico, the US and Canada. As an innovative digital freight marketplace, broker, transportation management system (TMS) and public API, Fr8Hub uses its proprietary technology platform to connect carriers and shippers that significantly improves matching and operation efficiency via innovative technologies such as live pricing and real-time tracking.
About Hudson Capital Inc.
Incorporated in 2014, Hudson Capital Inc. (formerly known as China Internet Nationwide Financial Services Inc. (NASDAQ: HUSN)) commenced its business by providing financial advisory services to small and medium size companies. The traditional business segments include commercial payment advisory, intermediary bank loan advisory and international corporate financing advisory services which help clients to meet their commercial payment and investment needs. For more information, about Hudson Capital, please see the documents filed by Hudson Capital with the SEC at www.sec.gov.
Important Information About the Proposed Merger Transaction and Where to Find It
In connection with the proposed merger, Hudson Capital intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a Registration Statement on Form S-4 (the “Form S-4”) which was filed with the SEC on November 12, 2020, as amended on December 31, 2020 and February 8, 2021, and includes and serves as a proxy statement/prospectus for Hudson Capital’s shareholders and a prospectus for Fr8Hub’s stockholders. Promptly after the Form S-4 is declared effective by the SEC, Hudson Capital will mail the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the special meeting on the merger and the other proposals set forth in the proxy statement. SHAREHOLDERS OF HUDSON CAPITAL ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MERGER THAT HUDSON CAPITAL WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HUDSON CAPITAL, FREIGHTHUB AND THE MERGER. The definitive proxy statement/prospectus and other relevant materials in connection with the merger (when they become available), and any other documents filed by Hudson Capital with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov).
Participants in the Solicitation
Hudson Capital and its directors and executive officers may be deemed participants in the solicitation of proxies from Hudson Capital’s shareholders with respect to the merger. A list of the names of those directors and executive officers and a description of their interests in Hudson Capital are included in the prospectus/proxy statement for the proposed merger and are available at www.sec.gov. Additional information regarding the interests of such participants will be contained in the prospectus/proxy statement for the proposed merger when available. Information about Hudson Capital’s directors and executive officers and their ownership of ordinary shares of Hudson Capital is set forth in Hudson Capital’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 15, 2020. These documents can be obtained free of charge from the sources indicated above.
Fr8Hub and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Hudson Capital in connection with the proposed merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed merger are included in the prospectus/proxy statement for the proposed merger, and are available at www.sec.gov.