- EV Technology Group Ltd. (EVTG) has entered into a share exchange agreement to acquire a portfolio of intellectual property for automotive brands
- The agreement was made with 1000310362 Ontario Inc. and its shareholder and includes brands Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co.
- EV Technology Group Ltd. (EVTG) owns and operates iconic and luxury motoring brands and helps them ‘go electric. It acquires iconic brands and invests in making the transition to electric
- EV Technology Group was down 2.31 per cent, trading at 1.27 per share as of 9:30 am ET
EV Technology Group (EVTG) has entered into a share exchange agreement to acquire a portfolio of intellectual property for automotive brands.
The agreement was made with 1000310362 Ontario Inc. and its shareholder and includes brands Officine Stampaggi Industriali, Fantuzzi, Marazzi and Brewster & Co.
This transaction expands the portfolio of brands under the company’s control.
The company’s CEO, Wouter Witvoet, said his team 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.”
The company will issue 1,950,000 common shares to the shareholder in exchange for all of the issued and outstanding shares of 1000310362 Ontario Inc.
EV Technology Group Ltd. (EVTG) owns and operates iconic and luxury motoring brands and helps them ‘go electric. It acquires iconic brands and invests in making the transition to electric.
EV Technology Group was down 2.31 per cent, trading at 1.27 per share as of 9:30 am ET.