- EZRaider Global, Inc. Announces Letter of Intent to Merge with E-Waste Corp
EZRaider Global, Inc. Announces Letter of Intent to Merge with E-Waste Corp
EZRaider Global, Inc. (“EZRaider” headquartered in Seattle, Washington) is pleased to announce the signing of a binding Letter of Intent (LOI) with E-Waste, Corp. (“E-Waste”) (OTC Pink: EWST) dated May 25, 2021, pursuant to which EZRaider will acquire EZ Raider, LLC, a Washington limited liability company; and the rights to acquire DS Raider, Ltd., an Israeli company (“DS Raider”). EZRaider Global, Inc. will also complete a bridge financing transaction for up to $3,000,000 in its securities, and consummate a reverse merger transaction with E-Waste and E-Waste’s subsidiary (the “Reverse Merger”), resulting in EZRaider becoming a wholly-owned subsidiary of E-Waste.
As agreed by the parties, E-Waste wired $2,000,000 to EZRaider to enable EZRaider, among other things (a) to commence an audit of EZ Global and EZ Raider; (b) to renegotiate the closing date for the acquisition of DS Israel and (c) to fulfill its obligations under the definitive purchase agreement for such acquisition. The parties anticipate that the closing date of the Reverse Merger will be on or before July 31, 2021, subject to applicable closing conditions including final due-diligence, signing a definitive merger agreement, completion of the bridge financing, and the completion of audited financials by EZRaider.
“This is the next significant step in EZ Raider’s commitment to becoming a leading international manufacturer in the Electric Vehicle (EV) market,” stated Mozy Azarzar, CEO of EZRAIDER Global, Inc. “We look forward to entering public markets and to taking advantage of the many opportunities that a public listing affords the Company and its shareholders.”
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