Texas-based company names Mullen exclusive provider with initial 200 vans for Heights Dispensary’s Houston and Dallas operations in third quarter 2023; Additional 1,000 Mullen ONEs to be delivered by second quarter 2025

BREA, Calif. – 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 Heights 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.

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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 available in a single or dual electric motor configuration.

“We’re very excited that Heights Dispensary has selected Mullen to satisfy all its electric vehicle needs. The Heights order is the second, among many other companies we are currently working on, to select Mullen as their EV provider. The FIVE skateboard platform allows us to configure and offer the vehicle for many different types of commercial trade uses,” said David Michery, CEO and chairman of Mullen Technologies.

“Heights Dispensary takes a serious ecological look at our business models’ carbon footprint and we only work with sustainable growers in the industry. This responsibility stands especially true with our growth planning. This is why we’re all extremely excited to be working with Mullen Technologies as part of our growth planning, with Mullen electric cars displacing what would amount to thousands of petrol cars across the United States. We can safely say that not only do we practice responsible capitalism now, we aggressively chart that path well into the future,” said James Gooch, managing partner of Heights Dispensery.

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