TORRANCE, Calif., July 2, 2021 /PRNewswire/ -- Video River Networks recently announced that a deal has been made with one of the Institutional Investors ("II") to buy 200,000 SPAC shares at $10 per share for a total of $2 million. In more good news, another ("II") Institutional Investor wants to also buy 200,000 of the SPAC shares at $10 per share for a total of $2 million. More updates are expected to be released soon per Video River Networks official Twitter account.
Moreover, Video River Networks also announced that they have ordered 8 new vehicle designs from their partners at Lingstar for field testing, and will begin meticulously testing the vehicles as soon as they arrive in Video River networks' headquarters in Torrance, California.
This will be the beginning of what looks to be a fruitful partnership between Video River Networks and our new partners from China, Lingstar. Video River Networks paid a sum total of $97,551 for the 8 designs and is looking forward to beginning operations of field testing and productions immediately. "We're very excited to work with Lingstar! Video River Networks has always been on the cutting edge of technology and design, and our new partners are no exception," said Video River Networks CEO, Frank Igwealor.
Video River Networks are taking their time ensuring every facet of the new vehicles is safe for both the employees and driving public. As per their Twitter account Video River Networks will be arranging a show open to the public to showcase the cars, once they arrive.
Video River Networks are committed to delivering vehicles that are not only environmentally friendly but also cost effective. The field tests of these cars will help Video River Networks decide if the car designs Lingstar submitted are efficient, effective, and reliable. Shareholders have been pleased with Video River Networks constant updates regarding the company's ventures and are now patiently waiting for the field tests results.
News of announcements was picked up by different investors and related news outlets on social media. The positive reception spread a feeling of excitement amongst the investors towards the company's future. Hence, Video River Networks announced on their twitter account that they will be putting in effort to produce more updates in regards to the field testing results and other business ventures.
About Video River Networks, Inc.
Video River Networks, Inc. is an Electric Vehicles and Battery Technology holding company that operates and manages a portfolio of Electric Vehicles, Artificial Intelligence, Machine Learning and Robotics ("EV-AI-ML-R") assets, businesses and operations in North America. The Company's current and target portfolio businesses and assets include operations that design, develop, manufacture and sell high-performance fully electric vehicles and design, manufacture, install and sell Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices mostly engineered through Artificial Intelligence, Machine Learning and Robotic technologies. NIHK's current technology-focused business model is a result of our board resolution on September 15, 2020 to spin-in/off our specialty real estate holding business to an operating subsidiary and then pivot back to being a technology company. The Company has now returned back to its original technology-focused businesses of Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices. For more information and the latest updates check the company's Twitter account at https://twitter.com/NIHKEV
Video River Networks, Inc.
370 Amapola Ave., Suite 200A
Torrance, CA 90501
SOURCE Video River Networks