EAST ORANGE, N.J., June 10, 2004 (PRIMEZONE) -- Transportation Logistics Int'l, Inc. (OTCBB:TRPL) announces today that it is nearing a decision on which of the two acquisition candidates it has been investigating will be selected. Board members and counsel have been meeting with their counterparts at both entities for the past two weeks, financing is already in place, and the final selection is imminent.
Mike Margolies, TRPL's Chairman and CEO, commented: "Our recent acquisition of Advance Medical Diagnostics (AMD) instantly exposed us to numerous opportunities, at least one of which we feel capable of bringing into our new family this month. The smooth absorption of AMD gave us the confidence to do it again quickly, and the added expertise to do it properly. The instant financing response we received allowed us to concentrate on the investigation and due diligence.
"I would expect a Letter of Intent to be signed within two weeks."
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.