Net Element (NASDAQ: NETE) is in the process of transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through a pending stock-for-stock reverse merger with privately held Mullen Technologies Inc. Mullen today announced the debut date of the Mullen FIVE EV Crossover. According to the update, the company will debut to the world, for the first time, the FIVE EV Crossover on Nov. 17, 2021, at the Los Angeles International Auto Show (“LAIAS”). The Strikingly Different(TM) FIVE will debut in the South Hall on day one of international media and press days at LAIAS and will continue on display during the consumer days of the show, Nov. 19-28, 2021. In addition, Mullen will continue its momentum into 2022 by additionally displaying and showcasing the Mullen FIVE at the Consumer Electronic Show (“CES(R) 2022”), taking place Jan. 5-8, 2022, in Las Vegas. “Debuting the FIVE is a dream of mine that has been years in the making. I am really beyond words for what this means to me personally,” said David Michery, CEO and chairman of Mullen. “I want to take a moment and thank the Mullen team, whose focus has been making the FIVE a reality. Both the LA show and CES are two of the largest and most well-respected international automotive shows in the world. I cannot think of a better place for us to debut the FIVE, front and center for the world to see.”
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About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. On Aug. 5, 2020, Net Element announced the execution of a definitive agreement to merge with privately held Mullen Technologies Inc., a Southern California-based electric vehicle company 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 (the “contemplated merger”). That contemplated merger is subject to customary closing conditions, regulatory approvals and shareholder approval for both companies. For additional information, visitwww.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
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