Net Element Provides Update on Pending Merger with Mullen Technologies, Inc.

Net Element, Inc. (NASDAQ:NETE) ("Net Element" or the "Company"), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale ("POS"), e-commerce and mobile devices, today provides an update on the pending merger with ("Mullen" or "the Company"), a Southern California-based electric vehicle (EV) company.