Transportation and Logistics Systems, Inc. (OTC PINK:TLSS), an eCommerce fulfillment service provider, today announced that on November 11, 2020, it entered into an asset purchase agreement to acquire substantially all of the assets and certain liabilities of Cougar Express, Inc., a New York-based full service logistics provider specializing in pickup, warehousing and delivery services in the tri-state area.

According to CEO John Mercadante, "We are very excited about the prospect of joining forces with the Cougar Express team, a profitable, family-run business with a successful 30-year history, diversified and loyal customer base and stellar reputation. We believe that this is an ideal complement to our current business and provides opportunity for organic expansion."

Mrs. Rosemary Cerrito, President of Cougar Express added, "We were very impressed with TLSS' executive and operational management team, as well as its future growth plans. A key factor was knowing that our valued customers and dedicated employees will be in excellent hands."

The transaction is scheduled to close no later than January 15, 2021, subject to the completion of satisfactory due diligence by the Company and TLSS securing financing for the acquisition.

About Transportation and Logistics Systems, Inc.

TLSS, through its wholly-owned operating subsidiary, Shypdirect, LLC, operates as a logistics and transportation company specializing in eCommerce fulfillment through last mile, two-person home delivery, mid-mile and line-haul services for predominantly online retailers.

For more information, visit the Company's website, www.tlss-inc.com.