RXAC Signs Acquisition Agreement with Owner of Thomas Griffin International

Resource Exchange of America Corp. (RXAC) recently entered into an employment and acquisition agreement with Thomas Griffin, the owner of Thomas Griffin International, which operates under the name of Sea Lion Ocean Freight.

Pursuant to the terms and conditions of the acquisition, Griffin shall transfer certain assets of Sea Lion, including but not limited to various volume service contracts with top ocean freight carriers, to Sea Lion, LLC.

The assets acquired from Thomas Griffin International include, but are not limited to, a Federal Maritime Commission license, Federal Maritime Commission bond and tariff for non-vessel operating common carrier.

The license, bond and tariff ensure that RXAC's subsidiary, Sea Lion, LLC, complies with the U.S. regulatory requirements but also permits RXAC to pursue new projects in the Gulf of Mexico and the Caribbean. In addition, Sea Lion, LLC has also acquired select clients from Thomas Griffin International that fit within the company's framework.

In addition, RXAC has appointed Griffin as vice president of Global Development and Markets. Griffin says the transfer of the license, bond, tariff and clients is a natural progression and consistent with the firm's vision and strategy.