ORLANDO, Fla., Feb. 2 2022 (GLOBE NEWSWIRE) — ARC Group Worldwide, Inc. (“BOW” and the “Society“) (OTC Markets: ARCW), announces the completion of the sale of its legacy assets and the closing of its business combination with RM2 International SA (“RM2“) on February 1, 2022 (the “Closing“).
RM2 International SA (“RM2”), a Luxembourg company, is the owner and operator of the BLOCKPal, a technologically advanced, hygienic and ESG-friendly composite pallet that is rented to Tier 1 customers. RM2 provides its end-to-end logistics intelligence optimization and tracking IoT technology (RM2 ELIoT) for pallet traceability, providing real-time actionable insights and powerful data to improve supply chain visibility for the manufacturing and distribution companies it serves.
RM2 started the smart reusable pallet revolution by integrating autonomous IoT sensor technology into its pallets. BLOCKPal pallets are supplied to customers in a variety of sectors, with particular emphasis on those where hygiene and traceability are of crucial importance.
Ian Molson, President of RM2, said at the closing, “We are delighted to announce the completion of the RM2 business combination with ARC and to move into the next stage of our production and deployment. We believe ARC provides RM2 with an important platform for expansion, growth and market adoption of our cutting-edge technologies, with the potential to create major disruptive efficiencies in logistics systems and supply chains. in the whole world. »
The majority shareholders of RM2 exchanged their shares of RM2 for newly issued shares of ARC. Approximately 1.6% of the shares of RM2 remain issued and outstanding among widely dispersed shareholders and the Company expects to exchange these shares for shares of ARC as soon as reasonably possible. Capital from ARC and four other institutional investors will allow RM2 to grow its pallet pool and meet unmet customer demand.
Major shareholders of ARC now include Richard Cashin (the chairman of One Equity Partners LLC), QRM2 Holdings Ltd., (a Quasha family-controlled entity), Polygon Global Partners, LLP (a global investment firm), PMB Invest Fund I SCSp and R. Ian Molson (a private investor).
We have taken steps to change the name of the Company to “RM2 International, Inc.“We expect the name change to take effect on or around February 15, 2022.
To learn more about RM2, visit the RM2 website at: https://www.rm2.com/.
This release includes certain forward-looking statements and projections. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the Company’s and RM2’s expectations. Although the Company and RM2 make these statements in good faith, neither the Company nor RM2 nor their respective management can guarantee that the anticipated future results will be achieved. Neither the Company nor RM2 undertakes any obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company or RM2, whether as a result of new information, events future or otherwise. All forward-looking statements attributable to the Company or RM2 or persons acting on behalf of the Company or RM2 are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date they are made and, except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Email: [email protected]
Image 1: RM2 Logo
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