NetworkNewsBreaks – Net Element, Inc. (NASDAQ: N
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Posted On: 07/13/2020 3:15:24 PM
NetworkNewsBreaks – Net Element, Inc. (NASDAQ: NETE) Provides Update on Pending Mullen Technologies Merger; Mullen Enters LOI to Acquire EV Manufacturing Plant
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mobile devices, today provided an update on the pending merger with Mullen Technologies, Inc., a Southern California-based electric vehicle (“EV”) company. “We are working earnestly on due diligence and other matters in the hope of bringing this merger to fruition for the benefit of our shareholders,” Oleg Firer, executive chairman and CEO of Net Element, said in the news release. “The EV industry continues showing robust growth and if consummated, we believe the merger can increase shareholder value.”
In addition, Mullen today announced its entry into a letter of intent (“LOI”) with Axiom Financial for $135 million in funding to acquire and build out an electric vehicle manufacturing plant. “As we move forward with our acquisition of Net Element, the immediate need to develop a facility to manufacture and assemble our vehicles becomes a high priority,” Mullen CEO David Michery stated in the news release. “Modifying an existing, functional plant to create our vehicles will immediately catapult Mullen into very rare territory: an electric car manufacturer producing vehicles and distributing them throughout our internal network of dealers.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mobile devices, today provided an update on the pending merger with Mullen Technologies, Inc., a Southern California-based electric vehicle (“EV”) company. “We are working earnestly on due diligence and other matters in the hope of bringing this merger to fruition for the benefit of our shareholders,” Oleg Firer, executive chairman and CEO of Net Element, said in the news release. “The EV industry continues showing robust growth and if consummated, we believe the merger can increase shareholder value.”
In addition, Mullen today announced its entry into a letter of intent (“LOI”) with Axiom Financial for $135 million in funding to acquire and build out an electric vehicle manufacturing plant. “As we move forward with our acquisition of Net Element, the immediate need to develop a facility to manufacture and assemble our vehicles becomes a high priority,” Mullen CEO David Michery stated in the news release. “Modifying an existing, functional plant to create our vehicles will immediately catapult Mullen into very rare territory: an electric car manufacturer producing vehicles and distributing them throughout our internal network of dealers.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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