Entry Into A Material Definitive


On March 19, 2021 (the “Effective Date”), Unique Logistics International, Inc. (the “Company”) issued to an accredited investor (the “Investor”) a 10% promissory note in the principal aggregate amount of $1,000,000 (the “Note”). The Company received aggregate gross proceeds of $1,000,000. The purpose of the funds is to augment working capital resulting from a surge in business and new customer acquisition. 


The Note matures on the date that is thirty (30) days following the Effective Date (the “Maturity Date”). The Note bears interest at a rate of ten percent (10%) per annum (the “Interest Rate”). The Company may prepay the Note without penalty.


The Note contains certain events of default. In the event of a default, at its’ optio n and sole discretion, the Investor may consider the Note immediately due and payable. Upon such an event of default, the interest rate increases to eighteen percent (18%) per annum.


A copy of the Note is included as Exhibit 4.1 to this Current Report and is hereby incorporated by reference. All references to the Note are qualified, in their entirety, by the text of such exhibits.


Item 2.03 Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement by a Registrant 


The disclosure under Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.


Item 9.01. Exhibits.


(d) Exhibits


Exhibit No.






10% Promissory Note, dated March 19, 2021.






Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.







Dated: March 22, 2021


/s/ Sunandan Ray



Sunandan Ray



Chief Executive Officer


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