TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) — EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) broadcasts that it has entered right into a share trade settlement (the “Definitive Agreement”) with 1000310362 Ontario Inc. (the “Target”) and its shareholder, to purchase a portfolio of mental property together with iconic manufacturers Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co. (the “Transaction”).
EV Technology Group has a method of buying iconic, nicely cherished automotive manufacturers after which electrifying them for the way forward for motoring. This strategic transaction expands the portfolio of manufacturers beneath EV Technology Group’s management and represents main potential to broaden the longer term panorama of electrical motoring. The manufacturers within the acquisition signify the epitome of world-class design and heritage, giving EV Technology Group the power to leverage on current model worth, and supply distinctive luxurious EVs, with current allure and heritage, to clients throughout the globe. The manufacturers within the Transaction embrace:
Marazzi, Fantuzzi, Brewster & Co and Officine Stampaggi Industriali – becoming a member of the EV Technology Group portfolio of strategic manufacturers
Fantuzzi
Fantuzzi was based in 1939 by Medardo Fantuzzi, an automotive engineer, in Modena Italy. Medardo and his brother Gino Fantuzzi have been concerned in constructing the Maserati A6GCS, Maserati 350S and Maserati 200S throughout the 1940’s and 1950’s. Medardo went on to work for Ferrari till 1966, the place he turned recognized for constructing bespoke low-production efficiency automobiles together with the Ferrari Tipo 156 “sharknose” Fantuzzi, moreover working for De Tomaso, Scuderia Serenissima, AMS and Techno, emblematic designs which are nonetheless cherished right this moment.
Marazzi
Marazzi was based by Carlo Marazzi and his two sons, Serafino and Mario in 1967, in Milan Italy. Marazzi first accomplished the Lamborghini 400GT 2+2 sequence, adopted by a sequence of 125 Lamborghini Islero, and the primary few of the Lamborghini Jarama. Then got here the gorgeous Alfa Romeo 33 Stradale.
Officine Stampaggi Industriali
Officine Stampaggi Industriali (OSI) was based in 1960, by Luigi Segre, former president of Carrozzeria Ghia, and Arrigo Olivetti from Fergat. OSI was primarily based in Turin Italy and was a short-lived firm that produced customized constructed automobiles primarily based on Alfa Romeo, Fiat and Ford. Although manufacturing was quick, OSI made a long-lasting impression within the automotive trade, famend for the conception of the 1960 Innocenti 950 Spider and the Ford 20M TS Coupé, few of that are nonetheless round right this moment.
Brewster & Co
Brewster & Company dates again to 1810, when James Brewster shortly fashioned a repute as America’s premier carriage maker. Brewster then went on to work on cars, with the primary being forward of the occasions with an electrical automotive primarily based on a gas-powered Delaunay-Belleville chassis in 1905. The Company was well-recognised in America as a supreme coachbuilder for a wide range of automobiles, with an on-off relationship with Rolls-Royce. Brewster & Co paved its means within the bespoke car trade, profitable quite a few awards.
Pursuant to the Definitive Agreement, EV Technology Group will subject a complete of 1,950,000 frequent shares of the Company (the “Payment Shares”) to the shareholder of the Target in trade for the entire issued and excellent shares of the Target, with various the Payment Shares topic to contractual lock-up restrictions. No finder charges can be paid in reference to the Transaction.
Wouter Witvoet, CEO of EV Technology Group stated, “EV Technology Group firmly believes in the future of electric vehicles, and currently the most efficient way to drive adoption is with the power of brands. By acquiring iconic vehicles, we take inspiration from the brand, including its design, values, heritage and ambition. This addition of four incredibly historic Companies within our portfolio is strategic and represents our trajectory to becoming one of the most prominent electric automotive brands of today.”
EV Technology Group
EV Technology Group was based in 2021 with the imaginative and prescient to electrify iconic manufacturers – and the mission to redefine the enjoyment of motoring for the electrical age. By buying iconic manufacturers and bringing beloved motoring experiences to the electrical age, EV Technology Group is driving the EV revolution ahead. Backed by a diversified workforce of passionate entrepreneurs, engineers and driving fans, EV Technology Group creates worth for its clients by proudly owning the entire buyer expertise — buying and partnering with iconic manufacturers with vital progress potential in distinctive markets, and controlling end-to-end capabilities. To be taught extra go to: https://evtgroup.com/
Media
Rachael D’Amore
[email protected]
+1519-564-9850
Investor Relations
Dave Gentry
[email protected]
+14074914498
EV Technology Group
Wouter Witvoet
CEO and Chairman of the Board
[email protected]
Forward-Looking Information
This information launch comprises forward-looking statements together with, however not restricted to: the closing of the Transaction and EV Technology Group operations, expectations, and future actions. Often, however not at all times, these Forward-looking Statements will be recognized by means of phrases resembling “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that occasions, “could” or “should” happen or be achieved and comparable expressions, together with unfavourable variations.
Forward-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Company to be materially completely different from any outcomes, efficiency or achievements expressed or implied by the Forward-looking Statements, together with these elements mentioned beneath “Risk Factors” within the submitting assertion of the Company. Although the Company has tried to determine necessary elements that might trigger precise actions, occasions or outcomes to differ materially from these described in Forward-looking Statements, there could also be different elements that trigger actions, occasions or outcomes to differ from these anticipated, estimated or meant.
Forward-looking statements contain vital danger, uncertainties and assumptions. Many elements may trigger precise outcomes, efficiency or achievements to differ materially from the outcomes mentioned or implied within the forward-looking statements. These elements must be thought of fastidiously and readers mustn’t place undue reliance on the forward-looking statements. Although the forward-looking statements contained on this information launch are primarily based upon what administration believes to be affordable assumptions, the Company can’t guarantee readers that precise outcomes can be in keeping with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or outcomes or in any other case, besides the place required by regulation. There will be no assurance that these forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements.
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