UMAX Group Corp. (OTCPK:UMAX) entered into an equity exchange agreement to acquire Mazuma Transportation Company on January 29, 2021. As part of the agreement UMAX acquired all outstanding equity of Mazuma Transportation in exchange of 1 million Series B, Preferred stock. There is contractual rider which states that the Series B Preferred Stock to be issued as part of this acquisition cannot be converted to the Common Stock of the Company for a period of three calendar years or Mazuma Transportation has four profitable consecutive quarters, whichever comes first. Mazuma Transportation will become a fully owned and operational subsidiary of UMAX. The acquisition will add over $1.3 million to the balance sheet of UMAX in hard assets with debt of less than $0.2 million. UMAX Group Corp. (OTCPK:UMAX) completed the acquisition of Mazuma Transportation Company on January 29, 2021.