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EV Technological innovation Team Announces Definitive Arrangement to

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TORONTO, Sept. 16, 2022 (Globe NEWSWIRE) — EV Technological innovation Group Ltd. (the “Enterprise” or “EV Engineering Team”) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces that it has entered into a share exchange arrangement (the “Definitive Arrangement”) with 1000310362 Ontario Inc. (the “Focus on”) and its shareholder, to receive a portfolio of mental residence which includes iconic models Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co. (the “Transaction”).

EV Technologies Team has a tactic of buying legendary, very well liked automotive makes and then electrifying them for the upcoming of motoring. This strategic transaction expands the portfolio of manufacturers under EV Technology Group’s regulate and represents key potential to develop the long run landscape of electric motoring. The makes in the acquisition characterize the epitome of earth-class style and heritage, supplying EV Know-how Team the means to leverage on current brand name benefit, and supply exceptional luxury EVs, with existing charm and heritage, to shoppers throughout the globe. The manufacturers in the Transaction incorporate:

Marazzi, Fantuzzi, Brewster & Co and Officine Stampaggi Industriali – signing up for the EV Technological innovation Team portfolio of strategic makes

Fantuzzi was started in 1939 by Medardo Fantuzzi, an automotive engineer, in Modena Italy. Medardo and his brother Gino Fantuzzi were involved in building the Maserati A6GCS, Maserati 350S and Maserati 200S through the 1940’s and 1950’s. Medardo went on to function for Ferrari till 1966, where by he grew to become identified for creating bespoke reduced-output overall performance vehicles including the Ferrari Tipo 156 “sharknose” Fantuzzi, in addition doing work for De Tomaso, Scuderia Serenissima, AMS and Techno, emblematic types that are even now cherished today.

Marazzi was started by Carlo Marazzi and his two sons, Serafino and Mario in 1967, in Milan Italy. Marazzi initially done the Lamborghini 400GT 2+2 series, adopted by a collection of 125 Lamborghini Islero, and the initial couple of of the Lamborghini Jarama. Then came the gorgeous Alfa Romeo 33 Stradale.

Officine Stampaggi Industriali
Officine Stampaggi Industriali (OSI) was established in 1960, by Luigi Segre, previous president of Carrozzeria Ghia, and Arrigo Olivetti from Fergat. OSI was primarily based in Turin Italy and was a brief-lived company that manufactured custom developed autos centered on Alfa Romeo, Fiat and Ford. Although creation was limited, OSI manufactured a long lasting effect in the automotive market, renowned for the conception of the 1960 Innocenti 950 Spider and the Ford 20M TS Coupé, number of of which are continue to all around now.

Brewster & Co
Brewster & Organization dates back again to 1810, when James Brewster swiftly shaped a reputation as America’s leading carriage maker. Brewster then went on to function on vehicles, with the first being forward of the moments with an electric automobile centered on a gas-powered Delaunay-Belleville chassis in 1905. The Organization was perfectly-recognised in The us as a supreme coachbuilder for a range of cars, with an on-off partnership with Rolls-Royce. Brewster & Co paved its way in the bespoke auto marketplace, successful various awards.

Pursuant to the Definitive Agreement, EV Technologies Team will concern a complete of 1,950,000 common shares of the Corporation (the “Payment Shares”) to the shareholder of the Focus on in exchange for all of the issued and remarkable shares of the Focus on, with a number of the Payment Shares subject matter to contractual lock-up limits. No finder fees will be paid out in link with the Transaction.

Wouter Witvoet, CEO of EV Technology Group explained, “EV Know-how Group firmly thinks in the long run of electric cars, and at present the most productive way to push adoption is with the electric power of makes. By getting legendary cars, we just take inspiration from the model, which includes its design, values, heritage and ambition. This addition of four incredibly historic Corporations inside of our portfolio is strategic and represents our trajectory to becoming a single of the most well known electrical automotive brands of currently.”

EV Technological innovation Group
EV Technologies Group was established in 2021 with the eyesight to electrify iconic brands – and the mission to redefine the pleasure of motoring for the electric powered age. By acquiring legendary manufacturers and bringing beloved motoring ordeals to the electric age, EV Technologies Team is driving the EV revolution forward. Backed by a diversified workforce of passionate business owners, engineers and driving fanatics, EV Technological innovation Team produces price for its consumers by possessing the full consumer working experience — buying and partnering with iconic models with sizeable development likely in special marketplaces, and controlling stop-to-stop capabilities. To find out much more go to: https://evtgroup.com/

Rachael D’Amore
[email protected]

Trader Relations
Dave Gentry
[email protected]

EV Technological know-how Group
Wouter Witvoet
CEO and Chairman of the Board
[email protected]

Ahead-On the lookout Details

This information launch consists of forward-hunting statements such as, but not restricted to: the closing of the Transaction and EV Technologies Group operations, expectations, and upcoming steps. Typically, but not often, these Ahead-seeking Statements can be recognized by the use of words and phrases these kinds of as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that activities, “could” or “should” happen or be realized and comparable expressions, including adverse versions.

Forward-on the lookout statements involve identified and unidentified threats, uncertainties and other components which could bring about the real outcomes, efficiency or achievements of the Organization to be materially diverse from any effects, functionality or achievements expressed or implied by the Ahead-seeking Statements, which include individuals things reviewed beneath “Risk Factors” in the submitting statement of the Enterprise. Whilst the Firm has tried to detect vital factors that could cause real actions, functions or final results to vary materially from those people explained in Ahead-on the lookout Statements, there may possibly be other elements that induce actions, events or outcomes to differ from those expected, believed or supposed.

Forward-searching statements entail sizeable possibility, uncertainties and assumptions. Lots of things could result in actual final results, general performance or achievements to vary materially from the benefits reviewed or implied in the forward-on the lookout statements. These variables should be regarded as very carefully and viewers should really not spot undue reliance on the ahead-looking statements. Whilst the forward-hunting statements contained in this information launch are primarily based upon what management thinks to be acceptable assumptions, the Business can not guarantee visitors that genuine outcomes will be steady with these ahead-hunting statements. The ahead-on the lookout statements contained herein are built as of the date hereof and the Organization disclaims any obligation to update any ahead-on the lookout statements, regardless of whether as a consequence of new information, potential events or results or or else, besides wherever required by law. There can be no assurance that these forward-hunting statements will prove to be accurate, as precise success and long term functions could vary materially from individuals predicted in these types of statements. Accordingly, visitors really should not position undue reliance on ahead-seeking statements.

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