LBC Express, Inc. agreed to acquire Federal Resources Investment Group, Inc. in a reverse merger transaction.
July 28, 2015
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LBC Express, Inc. agreed to acquire Federal Resources Investment Group, Inc. (PSE:FED) in a reverse merger transaction on July 29, 2015. The Board of Directors of Federal Resources Investment Group, Inc. approved the acquisition of 1.04 billion issued and outstanding shares of stock of LBC Express, Inc. Post transaction Federal Resources' name will be changed to LBC Express Holdings Incorporated and ticker will change to LBC. As on September 4, 2015, Federal Resources Investment Group Incorporated's shareholders have approved the acquisition of LBC Express.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.
LBC EXPRESS HOLDINGS, INC. 
