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Net Element Releases Letter to Shareholders
Net Element, Inc.March 12, 2021 GMT
MIAMI, March 12, 2021 (GLOBE NEWSWIRE) via InvestorWire Net Element, Inc. (NASDAQ: NETE ) (“ Net Element ” or the “Company”), today issues the following update on the pending merger with privately held Mullen Technologies, Inc. (“Mullen”), a Southern California-based electric vehicle (“EV”) company, in a stock-for-stock reverse merger in which, subject to the merger being consummated, Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger Company.
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Dear Fellow Shareholders,
Mullen Technologies Announces Purchase of Advanced Engineering and Manufacturing Center in Tunica, MS
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Mullen Technologies, Inc : RE-TRANSMISSION: Mullen Technologies Announces Purchase of Advanced Engineering and Manufacturing Center in Tunica, MS
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BREA, CA / ACCESSWIRE / March 11, 2021 / Mullen Technologies Inc. ( Mullen or the Company ), an emerging electric vehicle ( EV ) manufacturer, which previously announced a definitive agreement to merge with Net Element, Inc. (NASDAQ:NETE) in a stock-for-stock reverse merger in which Mullen s stockholders will receive a majority of the outstanding stock in the post-merger company, has executed a purchase and sales agreement (PSA) and opened escrow to purchase an EV manufacturing facility in Tunica, Mississippi. This five-year-old, turn-key facility affords Mullen the opportunity to innovate its manufacturing processes while having the availability to assemble vehicles now and optimize product design with simultaneous engineering efforts. Under Mullen ownership, the facility will be known as Mullen s Advanced Manufacturing Engineering Center (AMEC) and Proving Grounds.