GBT Technologies Inc (GTCH)

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Read the below PR on 05/12

Further, on May 3rd and 4th, 2023, Bannix began its due diligence on EVIE Autonomous Automotive Ltd. (https://evieautonomous.com/) ("EVIE") as required by the timeline set in the binding Letter of Intent. Bannix' team, headed by CEO and co-Chairman Douglas Davis, met with the EVIE team headed by founder and CEO Steven Lake, in EVIE's headquarters in Stoke-on-Trent, UK, for a two-day session starting the due diligence process.

Both companies shared their preliminary due diligence information and put teams together to undertake completing the due diligence, definitive agreement, and proxy/prospectus steps necessary to de-SPAC and form a business combination. With a greater understanding of EVIE's corporate plans and its autonomous vehicle technology platform, including understanding how the motion detection technology (Apollo) to be acquired from GBT Technologies Inc. may enhance EVIE's solutions, both companies were excited to move forward toward the next phase, which is to enter into a definitive agreement.

Bannix' CEO Doug Davis and EVIE's founder Steven Lake gave the following mutual statement: "After two days of getting to know each other, and intense information exchange, both the Bannix and EVIE teams are excited to move forward together. On both a business combination execution level, and with the go-to-market knowledge of both teams, we feel that we have a winning combination to bring EVIE into the public markets and have the resources in striving for the goal to make a very successful business."

Steven Lake commented further: "EVIE was formed not only to bring the best autonomous vehicle technology to market affordably, but also with a commitment to provide environmental, social and quality-of-life improvements for all of mankind. We believe very seriously in these goals and are taking these steps to enhance the resources of the company to achieve them."

The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is executed.