Fr8App Onboards Leading Trucking Company for Its Private Fleet Services, Expanding Transportation Capacity

• Freight Technologies, Inc’s subsidiary, Fr8App, expands transportation capacity for its private fleet services by onboarding a leading trucking company in Mexico.
  
  
• Majoba Logistics and Fr8App Join Forces to Substantially Expand Fr8Fleet Offering Capacity

HOUSTON, Jan. 30, 2023 (GLOBE NEWSWIRE) -- (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, is proud to announce an alliance with MAJOBA Logistics, a leading transportation company in Mexico, to increase the volume of trucks available for Fr8Fleet dedicated services.

Majoba Logistics will be on-boarding its fleet of vehicles to the Fr8App platform, allowing Fr8App to offer a wider range of transportation options to its customers. This alliance will also allow Fr8App to provide more efficient and cost-effective transportation services to its clients.

"We are very happy to partner with Majoba Logistics," said Javier Selgas, CEO of Fr8App. "Their commitment to providing high-quality and dedicated logistics services aligns perfectly with our mission to revolutionize the transportation industry. Together, we will be able to provide an even wider range of options and services to our customers."

”We started offering our Fr8Fleet (private fleet) product last year and look forward to more than doubling its size this year. We are elated to have one of the leading innovative freight companies in Mexico, join our platform with the view to helping grow the traffic in our Fr8Fleet offering.” Selgas concluded.

Majoba Logistics CEO, Aarón Elizondo, said "We are excited to partner with Fr8App and offer their customers even additional options for their transportation needs. This partnership will allow us to expand our reach and through technology, provide even safer, more efficient and cost-effective logistics services."

About MAJOBA

MAJOBA Logistics is a transportation company with headquarters in the city of León, Guanajuato, that is based on innovation in the freight trucking service. All of the company’s personnel have extensive experience in the environment, thus supporting quality in personalized service and effective processes, seeking evolution with ideas that revolutionize distribution and logistics for the complete satisfaction of our customers. For more information, visit .

About Freight Technologies Inc.

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App, Inc. (Fr8App), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (OTR) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit .

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Freight Technologies' and Fr8App’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies' other filings with the SEC. Freight Technologies cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.