EV Technology Group Announces Definitive Agreement to Acquire Portfolio of Iconic Automotive Brands of Ford, Maserati and Ferrari Coach Builders, The Canadian Business Journal

TORONTO, September 16, 2022 (GLOBE NEWSWIRE) — EV Technology Group Ltd.Company” Also “EV Technology Group) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces that it has entered into a share exchange agreement (“final agreement1000310362 Ontario Inc. (“Target) and its shareholders are the iconic brands Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co. (“transaction”).

EV Technology Group has a strategy of acquiring iconic and beloved automotive brands and electrifying them for the future of automobiles. This strategic transaction expands the portfolio of brands under the control of the EV Technology Group and represents great potential to expand the future prospects of electric vehicles. The acquired brands epitomize world-class design and heritage, and EV Technology Group will be able to leverage its existing brand value to offer customers around the world unique luxury EVs with existing appeal and heritage. I can do it. Transaction brands include:

Marazzi, Fantuzzi, Brewster & Co, Officine Stampaggi Industriali – Join EV Technology Group’s Portfolio of Strategic Brands

fantuzzi
Fantuzzi was founded in Modena, Italy in 1939 by automotive engineer Medardo Fantuzzi. Medardo and his brother Gino his Fantuzzi were involved in building the Maserati A6GCS, Maserati 350S and Maserati 200S in the 1940s and his 1950s. Medardo worked for Ferrari until 1966, where he became known for building bespoke low-production performance cars such as the Ferrari Tipo He 156 ‘Shark Nose’ Fantuzzi, and de He Tommaso, Scuderia He was also an iconic design for Serenissima, AMS, Techno and more. Cherish today.

Marazzi
Marazzi was founded in Milan, Italy in 1967 by Carlo Marazzi and his two sons, Serafino and Mario. Marazzi first completed the Lamborghini 400GT 2+2 series, followed by the 125-car Lamborghini Islero series, the first few of the Lamborghini Jarama. Then came the beautiful Alfa Romeo 33 Stradale.

OFFICINE STAMPADGE INDUSTRIAL
Officine Stampaggi Industriali (OSI) was founded in 1960 by Luigi Segre, former president of Carrozzeria Ghia, and Arrigo Olivetti of Fergutto. OSI, based in Turin, Italy, was a short-lived company that built bespoke cars based on Alfa Romeo, Fiat and Ford. Despite its brief production run, OSI made a lasting impression on the automotive industry, becoming famous for his 1960 Innocenti 950 Spider and his Ford 20M TS Coupé concepts.

Brewster & Company
Brewster & Company’s history dates back to 1810, and James Brewster quickly established a reputation as America’s premier carriage manufacturer. Brewster then worked on the development of automobiles, first ahead of his time with his 1905 gas-powered Delaunay electric car based on his Belleville chassis. A vehicle that has an on-off relationship with Rolls-Royce. Brewster & Co has won numerous awards and paved the way for the custom vehicle industry.

Under the definitive agreement, EV Technology Group will issue a total of 1,950,000 shares of our common stock (“payment share”) to Target shareholders in exchange for all issued and outstanding shares of Target, along with a number of paid shares subject to contractual lock-up restrictions. No finder fees are paid in connection with the transaction.

Wouter Witvoet, CEO of EV Technology Group, said: “EV Technology Group believes in the future of electric vehicles and the most efficient way to drive adoption at this time is to harness the power of the brand. Inspired by design, values, heritage, ambition, etc. The addition of four companies with incredible history to our portfolio is strategic and one of today’s most prominent electric vehicle brands. It represents our trajectory to become a

EV Technology Group
EV Technology Group was founded in 2021 with a vision to electrify iconic brands and a mission to redefine the joy of driving for the electric age. By acquiring iconic brands and bringing beloved automotive experiences into the electric age, EV Technology Group is driving his EV revolution. Backed by a diverse team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group acquires and partners with iconic brands with significant growth potential in their own markets to deliver end-to-end Create value for your customers by owning the holistic customer experience by managing ability. See below for more information. https://evtgroup.com/

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EV Technology Group
Wouter Witvoet
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Forward-Looking Information

This news release contains, without limitation, forward-looking statements regarding the closing of the transaction and the operations, expectations and future actions of EV Technology Group. Often, but not always, these forward-looking statements are “estimate,” “may,” “open,” “future,” “anticipate,” “project,” “use,” ‘, ‘was’, ‘obtained’, ‘planned’, ‘reflects’, ‘will’, ‘contains’, ‘remains’, ‘becomes’, or event Statements that “could occur” or “should occur” or similar expressions that include negative variations to be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and the possibility that our actual results, performance or achievements may differ materially from those expressed or implied by forward-looking statements. There are other factors included. Factors described in the “Risk Factors” section of our filings. Although we have attempted to identify important factors that could cause our actual actions, events or results to differ materially from those set forth in the forward-looking statements, the actions, events or results There may be other factors that cause results to differ from those expected, estimated or otherwise. was intended.

Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from those discussed or implied by forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this news release are based on what management believes to be reasonable, the reader is assured that actual results will be consistent with these forward-looking statements. You can not. The forward-looking statements contained herein are made as of the date hereof and the company does not make any statements as a result of new information, future events, results or otherwise, except as required by law. , disclaims any obligation to update any forward-looking statements. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results or future events could differ materially from those anticipated by such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c9e71f1-de3f-469b-ae54-77a514882da9.

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