LMP Automotive Holdings, Inc. Subsidiary Indicators $4 Million Settlement to Promote its Plantation, Florida Property

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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 the US, at present 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 are going to discontinue operations from this facility as a part of our realignment technique, specializing in franchise dealership acquisitions and operations. This may full the sale of sure property 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 greater returns.”

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

Our proprietary e-commerce know-how and technique are designed to disrupt the trade by leveraging our skilled groups, rising collection of owned inventories and bodily logistics community. We search to supply clients with a seamless expertise each on-line and in individual. Our bodily logistics community allows us to supply handy, free supply factors for patrons and supply providers all through your entire possession life cycle. We use digital applied sciences to decrease our buyer acquisition prices, obtain operational efficiencies and generate extra revenues. Our distinctive development mannequin generates important money flows, which funds our innovation and enlargement into new geographical markets, together with strategically constructing out dealership networks, creating private transportation options that buyers 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 could include “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934, every as amended. Such statements embody, however are usually not restricted to, any statements regarding our expectations, beliefs, projections, future plans and techniques, anticipated occasions or developments and comparable issues that aren’t historic info. These statements could also be preceded by, adopted by or embody the phrases “purpose,” “anticipate,” “imagine,” “estimate,” “anticipate,” “forecast,” “intend,” “doubtless,” “outlook,” “plan,” “potential,” “mission,” “projection,” “search,” “can,” “might,” “could,” “ought to,” “would,” will,” the negatives thereof and different phrases and phrases of comparable meanings. Ahead-looking statements are primarily based on administration’s present expectations and are topic to dangers and uncertainties that would negatively have an effect on our enterprise, working outcomes, monetary situation, and inventory worth. Elements that would trigger precise outcomes to vary materially from these presently anticipated embody: our dependence upon exterior sources for the financing of our operations; our capacity to successfully govt our marketing strategy; our capacity to keep up and develop our fame and to attain and keep the market acceptance of our providers and platform; our capacity to handle the expansion of our operations over time; our capacity to keep up enough safety of our mental property and to keep away from violation of the mental property rights of others; our capacity to keep up relationships with current clients and car suppliers, and develop relationships; and our capacity to compete and reach a extremely aggressive and evolving trade; in addition to different dangers described in our SEC filings. There is no such thing as 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 relies, besides as required by regulation.

SOURCE: LMP Automotive Holdings, Inc.



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