January 27, 2021

Transportation and Logistics Systems, Inc. Closes $640,000 Financing

Company Continues to Pursue Growth Opportunities

JUPITER, FL / ACCESSWIRE / October 13, 2020 / Transportation and Logistics Systems, Inc. (OTC PINK:TLSS), (“TLSS”, or the “Company”), a leading eCommerce fulfillment service provider, today announced that on October 8, 2020 it closed an equity financing which provided gross proceeds of $640,000.

According to CEO John Mercadante, “In light of the significant positive results from our restructuring efforts over the past six months and then the cessation of our Amazon DSP business as of September 30, 2020, we believe that this interim funding will enable us to continue to pursue opportunities to build shareholder value. We appreciate the ongoing support demonstrated by the investors in this financing.”

Under the terms of a Securities Purchase Agreement, the Company issued to certain accredited investors in a private placement an aggregate of 47,977 shares of Series E Convertible Preferred Stock of the Company, par value

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