LMP Automotive Holdings, Inc. Subsidiary Indicators $4 Million

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FORT LAUDERDALE, Fla., Feb. 08, 2022 (GLOBE NEWSWIRE) — LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Firm” or “LMP”), an e-commerce and facilities-based automotive retailer in america, right now introduced it signed a $4 million settlement to promote its Plantation, Florida property.

Richard Aldahan, LMP’s Chief Working Officer, said, “This was our leasing and subscription website, and the sale is a worthwhile transaction and accretive to our financials. We anticipate the closing to happen on or about April of this 12 months topic to customary closing situations. We’ll discontinue operations from this facility as a part of our realignment technique, specializing in franchise dealership acquisitions and operations. This can full the sale of sure belongings associated to our leasing and subscription non-core enterprise that we started late final 12 months, and we imagine deploying capital in our dealerships will yield increased returns.”

ABOUT LMP AUTOMOTIVE HOLDINGS, INC.
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a progress firm with a long-term plan to profitably consolidate and associate with automotive dealership teams in america. We provide a big selection of services fulfilling your complete automobile possession lifecycle, together with new and used autos, finance and insurance coverage merchandise and automotive restore and upkeep.

Our proprietary e-commerce expertise and technique are designed to disrupt the business by leveraging our skilled groups, rising number of owned inventories and bodily logistics community. We search to offer clients with a seamless expertise each on-line and in particular person. Our bodily logistics community allows us to offer handy, free supply factors for purchasers and supply providers all through your complete possession life cycle. We use digital applied sciences to decrease our buyer acquisition prices, obtain operational efficiencies and generate further revenues. Our distinctive progress mannequin generates important money flows, which funds our innovation and growth into new geographical markets, together with strategically constructing out dealership networks, creating private transportation options that customers need.

Investor Relations:

LMP Automotive Holdings, Inc.
500 East Broward Boulevard, Suite 1900
Fort Lauderdale, FL 33394
traders@lmpah.com

For extra info go to: https://lmpmotors.com/.

FORWARD-LOOKING STATEMENTS:
This press launch might comprise “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Change Act of 1934, every as amended. Such statements embrace, however aren’t restricted to, any statements regarding our expectations, beliefs, projections, future plans and techniques, anticipated occasions or developments and related issues that aren’t historic information. These statements could also be preceded by, adopted by or embrace the phrases “purpose,” “anticipate,” “imagine,” “estimate,” “anticipate,” “forecast,” “intend,” “possible,” “outlook,” “plan,” “potential,” “challenge,” “projection,” “search,” “can,” “might,” “might,” “ought to,” “would,” will,” the negatives thereof and different phrases and phrases of comparable meanings. Ahead-looking statements are based mostly on administration’s present expectations and are topic to dangers and uncertainties that might negatively have an effect on our enterprise, working outcomes, monetary situation, and inventory worth. Elements that might trigger precise outcomes to vary materially from these at the moment anticipated embrace: our dependence upon exterior sources for the financing of our operations; our capability to successfully govt our marketing strategy; our capability to take care of and develop our popularity and to attain and preserve the market acceptance of our providers and platform; our capability to handle the expansion of our operations over time; our capability to take care of satisfactory safety of our mental property and to keep away from violation of the mental property rights of others; our capability to take care of relationships with current clients and car suppliers, and develop relationships; and our capability to compete and achieve a extremely aggressive and evolving business; in addition to different dangers described in our SEC filings. There isn’t a assurance that any forward-looking statements will materialize. You’re cautioned to not place undue reliance on forward-looking statements, which replicate expectations solely as of this date. We expressly disclaim any obligation or endeavor to launch publicly any updates or revisions to any forward-looking statements contained herein to replicate any change in our expectations or any adjustments in occasions, situations, or circumstances on which any such assertion is predicated, besides as required by legislation.

SOURCE: LMP Automotive Holdings, Inc.



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