Ronn Inc. Provides Shareholder Update

Rhea-AI Summary

Ronn Inc. (OTC PINK:RONN) CEO Ronn Ford provides a shareholder update. The company is close to finalizing a $100 million MOU, with audits expected to complete within three weeks. An S-1 filing is planned by the end of July 2024, aiming for a senior exchange listing later in the year, market conditions permitting. Additionally, the Tobique First Nations hub agreement awaits final approval, marking the first of seven hydrogen hubs across Indigenous lands in Canada. These hubs will use Ronn Inc.'s new logistic trucks, fostering a virtual hydrogen highway. Meetings with seven Tribal Chiefs indicate supportive momentum.

Positive

• $100 million MOU nearing finalization.
• Audits expected to be completed within three weeks.
• S-1 filing planned for July 2024.
• Potential senior exchange listing by year-end.
• Tobique First Nations hub agreement awaiting final approval.

Negative

• None.

RONN Inc. addresses some update questions from shareholders:

SCOTTSDALE, AZ / ACCESSWIRE / June 20, 2024 / RONN, Inc (OTC PINK:RONN) Ronn Ford, the CEO, today provides several updates and stated that on the financial front, it appears that our 100 million MOU is very close to becoming a final agreement and fully funded. The audits are approximately three weeks out from completion, and our S-1 is on track to be filed by the end of JULY 2024 in advance of an expected senior exchange listing, possibly later this year, depending on market conditions.

Ronn continued that our Tobique First Nations hub agreement is awaiting final approval from the tribal council. This 1000-kilogram-per-day hub is the first of seven anticipated across Indigenous lands to create a virtual hydrogen highway across Canada and will include several of our new logistic trucks. Ronn added that he has met with seven Tribal Chiefs supporting this forward-looking plan. Quote from a shareholder question:

"I am pleased to inform you that Tobique is indeed engaged with RONN Motor Group. This partnership is currently under review by our committee for final approval. We appreciate your interest and patience as we move through this process. We have every intention of moving forward with this project for the hydrogen hub. Best regards, Julian Moulton Councilor Tobique First Nations "

Vehicle Updates:

1) Logistic Hydrogen Fuel Cell Class 3-6 Trucks

a. We have the initial engineering completed

b. our feasibility studies are complete,

c. v1 chassis design and prototype chassis complete

d. partial supply chain for major components

e. With our new capital funding, we will finalize the first driving prototypes.

2) Will the new vehicle be a Sportscar, Supercar or Hypercar

a. While we like both Supercars and Hypercars, the company CEO prefers Hypercars

b. The new vehicle will supersede RONN's globally known Scorpion Supercar Hydrogen Hybrid

c. We do have a new name based on the theme of the vehicle that we will reveal in the near future

d. The new super-vehicle will be all-electric, driven on all four wheels, with a hydrogen fuel cell providing the electricity, with probable super-capacitors or solid-state batteries to capture regenerative power created in the drive train.

e. We expect horsepower to exceed 1000 plus.

f. This vehicle will be a limited edition and limited-release vehicle. We are taking advantage of the rapidly growing hydrogen infrastructure globally.

As a final note, I would like to add that we are actively in discussions with a large global group to expand both our vehicle and hydrogen hub initiatives and to create a Joint Venture to accomplish that goal. We expect to have further updates on this in the near term.

I would personally like to thank all of our supporters for our vision to make a difference in the world.

-RONN FORD

About RONN:
RONN is a Hydrogen company at the forefront of sustainable technology solutions. While working to manufacture high-performance, environmentally responsible hydrogen electric vehicles, the Company has now added hydrogen production hub development to contribute positively to the planet.

For more information, please visit www.ronnmotorgroup.com or contact John Morgan at jmorgan@ronnmotorgroup.com

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to, the success of RONN, Inc. initiatives in the hydrogen tax credit market. RONN, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE: RONN Inc.

View the original press release on accesswire.com

FAQ

What is the status of Ronn Inc.'s $100 million MOU?

The $100 million MOU is very close to becoming a final agreement and fully funded.

When will Ronn Inc. complete its audits?

The audits are expected to be completed within three weeks.

When is Ronn Inc. planning to file its S-1?

Ronn Inc. plans to file its S-1 by the end of July 2024.

Is Ronn Inc. aiming for a senior exchange listing?

Yes, Ronn Inc. is aiming for a senior exchange listing possibly later this year, depending on market conditions.

What is the Tobique First Nations hub agreement?

The Tobique First Nations hub agreement, which awaits final approval from the tribal council, is the first of seven hydrogen hubs planned across Indigenous lands in Canada.