BREA, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Mullen Technologies Inc. (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, which previously announced a definitive agreement to merge with Net Element, Inc. (NASDAQ: NETE) in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company, announces today that the Company has entered into a Letter of Agreement with Height Dispensary, LTD., to purchase 1,200 Mullen One electric vans and has selected Mullen as its exclusive provider for electric vehicles. The total vehicle purchase order is valued at over $60 million. Heights is a Texas company specializing in high quality legal CBD and THCa8 products online, and soon through a retail cannabis dispensary.
The initial Mullen ONE vehicle order will consist of 200 EV vans for Heights Dispensary’s Houston and Dallas operations, to be delivered on or before the end of third quarter 2023. Additionally, Heights will purchase 1,000 Mullen ONEs by second quarter 2025. The Mullen ONE EV Cargo Van vehicles are a modified variant of the Mullen FIVE, an electric crossover SUV based on a skateboard EV platform and unibody frame that will be