Open Road Shipping Signs Acquisition Letter of Intent

Letter of Intent Initiates Discussions to Acquire a Shipping and Logistics Company

Bellevue, WA March 16, 2017 Open Road Shipping, Inc. (OTC PINK:COWI) announced today that it had signed a Letter of Intent to acquire a privately held truck shipping and logistics company in upstate New York.

Manufacturing and distribution companies today work with a multitude of brokers and shippers to deliver a wide range of industrial and consumer products to their customers. Open Road Shipping has opened discussions to acquire a privately held shipping and logistics company that delivers industrial products domestically across the United States.

In addition, the privately held shipping and logistics company has developed proprietary web-based mobile application software that simplifies the selection of brokers and optimizes the cost of shipping of products domestically across the United States.

“Mobile apps that match truck drivers with shippers make it easier for shippers to find drivers, much in the way Lyft or Uber connect riders and drivers, said Lloyd Spencer, CEO of Open Road Shipping. This mobile app will allow us to acquire additional transportation companies and have immediate impact on the value of their business and make a combined company more efficient.”

This proprietary web-based mobile application software helps address the challenges of a trucking industry that is highly fragmented, and can help Open Road Shipping efficiently integrate acquired subsidiary shipping companies in the future that can collectively deliver excellent customer service.



About Open Road Shipping, Inc.

Open Road Shipping, Inc., formerly known as CoroWare, Inc., is focused on revolutionizing the logistics and transportation industry with products and services based on disruptive technologies such as mobile-based freight brokering and Industrial Internet of Things (IIoT) for freight tracking and monitoring.

The company’s common stock trades under ticker symbol “COWI” on OTC Markets.