Rand Logistics Inc. - (RLOG)

Rand Logistics Inc., formerly Rand Acquisition Corporation, was a development stage company that was initially formed with the intent to effect a merger, capital stock exchange, asset acquisition, or other similar business combination with an operating business in the logistics industry. The company was formed in 2004 and is based in New York City.  On February 28, 22006, Rand Acquisition Corporation, a specified purpose acquisition company, announced that its shareholders approved the acquisition of privately-held Lower Lakes Towing Ltd. and Grand River Navigation Company, Inc.   As part of the acquisition, Rand changed its name to Rand Logistics Inc. 

Post merger, Rand Logistics is a leading provider of bulk freight shipping services throughout the Great Lakes region. Through its subsidiaries, the Company operates a fleet of ten self-unloading carriers and three conventional bulk carriers. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes. The Company’s vessels operate under the U.S. Jones Act – which dictates that only ships that are built, crewed and owned by U.S. citizens can operate between U.S. ports – and the Canada Marine Act – which requires Canadian commissioned ships to operate between Canadian ports.