TORONTO, Oct. 25, 2022 (GLOBE NEWSWIRE) -- EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, OTCQB: EVTGF, DE: B96A) announces today that it has filed a preliminary base shelf prospectus (the "Base Shelf Prospectus") with the securities regulators in the provinces of Alberta, Ontario and British Columbia.

The Base Shelf Prospectus (when effective) will qualify the distribution from treasury up to C$50 million of common shares, debt securities, subscription receipts, warrants and units of the Company (collectively, “Securities”) or any combination thereof during the 25-month period that the Base Shelf Prospectus remains effective. The specific terms of any future offering of Securities will be set forth in a prospectus supplement to the Base Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

EV Technology Group files preliminary base shelf prospectus to raise up to C$50M to execute on its growth plans

Wouter Witvoet, CEO of EV Technology Group said, “This is an important milestone for our Company, as we look to our next stage of growth. The capital markets have responded strongly to our strategy of electrifying iconic brands and we look forward to this filing enabling our strategy.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy Securities, nor will there be any sale of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of any such jurisdiction.

The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Base Shelf Prospectus is available on SEDAR (www.sedar.com).

EV Technology Group
EV Technology Group was founded in 2021 with the vision to electrify iconic brands – and the mission to redefine the joy of motoring for the electric age. By acquiring iconic brands and bringing beloved motoring experiences to the electric age, EV Technology Group is driving the EV revolution forward. Backed by a diversified team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience — acquiring and partnering with iconic brands with significant growth potential in unique markets, and controlling end-to-end capabilities. To learn more visit: https://evtgroup.com/

Media
Rachael D’Amore
rachael@talkshopmedia.com   
+1519-564-9850

Investor Relations 
Dave Gentry
dave@redchip.com   
+14074914498

EV Technology Group
Wouter Witvoet
CEO and Chairman of the Board
wouter@evtgroup.com   

Forward-Looking Information

This news release contains forward-looking statements including, but not limited to: the closing of the acquisition of Fablink Group Holdings Ltd., information relating to the amount and terms of any offering of Securities under the Base Shelf Prospectus, the effectiveness of the Base Shelf Prospectus, the filing of any prospectus supplement and the business and strategic plans of the Company. Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements, including those factors discussed under “Risk Factors” in the filing statement and the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent 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 update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c4f1f02-5c1b-4caf-b256-8026726b6c7d