GreenCarNewsBreaks – Net Element Inc. (NASDAQ: NETE) Provides Update on Pending Mullen Technologies Merger; Mullen Enters LOI to Acquire EV Manufacturing Plant

Company: Net Element Inc. (NETE)
Category: News

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.”

To view the full press releases, visit http://nnw.fm/4ACzG and http://nnw.fm/6we1G

About Net Element

Net Element, Inc. 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. In the U.S., the Company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, its cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017, it was recognized by South Florida Business Journal as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.greencarstocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.greencarstocks.com/disclaimer

Green Car Stocks
San Francisco, California
www.greencarstocks.com
415.949.5050 Office
[email protected]

Green Car Stocks is part of the InvestorBrandNetwork.

Contact us: (310) 299-1717