- EZRaider Co. Completes Reverse Merger with EZRaider Global, Inc.
EZRaider Co. Completes Reverse Merger with EZRaider Global, Inc.
EZRaider Co. (OTC Pink: EWST) (“EZRaider” or the “Company”) f/k/a E-Waste Corp., a Florida corporation, announced today that, effective as of September 14, 2021, the Company consummated a reverse merger (the “Merger”) with EZRaider Global, Inc., a Nevada corporation (“EZ Global”). As a result of the Merger, EZ Global, headquartered in Seattle, Washington, became a wholly-owned subsidiary of the Company. EZ Global, through its wholly-owned subsidiary, EZ Raider, LLC, a Washington limited liability company (“EZ LLC” and, together with the Company and EZ Global, the “EZ Raider Companies”), is the exclusive importer and distributor in the United States of electric-powered, tactical manned vehicles, known as “EZ Raider vehicles,” manufactured in Israel by D.S Raider Ltd., a company organized under the laws of Israel (“D.S Raider”).
In anticipation of the Merger, the Company filed an amendment to its Articles of Incorporation with the Florida Secretary of State to change its name from E-Waste Corp. to EZRaider Co., effective as of September 3, 2021. Additionally, the Company has filed with FINRA a notification of the name change, and a voluntary request for a change of its trading symbol on the OTC Markets. The Company expects that the name change and new trading symbol will be made effective in the marketplace by FINRA in the near future.
Simultaneously with the closing of the Merger, the Company closed on a private placement offering in the amount of $1,320,000. Net proceeds in the amount of $1,310,000 were paid to D.S Raider as part of an advance in the aggregate amount of $3,850,000 that the EZ Raider Companies made to D.S Raider in connection with the contemplated acquisition of D.S Raider by EZ Global. Pursuant to a share purchase agreement between EZ Global and D.S Raider, EZ Global has the exclusive right to acquire D.S Raider through December 31, 2021, subject to certain conditions.
“We believe these initiatives will allow us to effectively expand our brand, making us easier to find and harder to forget,” stated Moshe (Mozy) Azarzar, CEO of EZRaider. “This is an important and necessary step as we embark on a long road pointed toward hopefully building a household name for EZRaider and creating real value for our shareholders.”
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
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