Volcon continues expansion in the americas and secures a $12.0 million minimum purchase requirement from brazilian importer

Austin, texas, april 11, 2023 (globe newswire) -- volcon inc. (nasdaq: vlcn) (“volcon” or the “company”), the first all-electric, off-road powersports company, announced today it has entered into a multi-year distribution agreement (the “importer agreement”) with brazilian importer, comfort industria e comercio ltda (“ventura experience”, or “ventura”) with a minimum purchase requirement of $12.0 million (up to 17.2 million if full sales forecast for brazil is met) over a three year period beginning in 2023. the importer agreement was effective march 31, 2023, and includes up to five additional countries with up to $3.4 million of additional minimum purchase requirements (up to $4.8 million if sales forecast is reached). sales in these additional countries is contingent upon approval from a component supplier to the stag to sell into these countries.
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