In a very positive sign for the prospects of this IoT company, the independent directors participated in the latest offering done by Trakopolis (TRAK.V).
- Chris Burchell, Director, purchased 127,542 shares
- Cameron Olson, Director, purchased 13,500 shares
- Francis Turner, Director, purchased 13,334 shares
- Gilbert Sonnenberg, Director, purchased 13,333 shares
This financing was done at 90 cents per share CAD, which is right where the stock is currently trading.
Concurrent to these purchases, Trakopolis closed on a strategic investment from Mullen Group to advance the ongoing development of a logistics platform called MoveitOnline. The platform incorporates load sharing technology developed by Trakopolis and is being significantly enhanced and relaunched by Mullen Group to create a real-time cloud based freight exchange hosted on Microsoft Azure.
Trakopolis is well positioned in the booming business of mobile tracking. The timing of the investments is fortuitous as the Electronic Logging Device (ELD) mandate is poised to become effective soon. Working with Mullen, a major shipping company, Trakopolis should be a direct beneficiary of this mandate.