Volcon enters supply agreement with Venom-EV for gold carts; initial order $2.36M, potential 5% equity dilution

Empery Digital Inc.

Volcon appointed exclusive supply representative for Venom-EV's gold carts; purchases up to $3.0M from manufacturer Whanlong.
Initial purchase order: 500 vehicles for $2.36M; net 90 payment terms; Volcon earns 3% fee per order.
For each 1,000 units purchased, Volcon issues Venom 1% of outstanding shares, capped at 5,000 units or June 30, 2026.
Board committee changes: Audit Committee chaired by Karin-Joyce Tjon; Compensation Committee chaired by Jonathan Foster; Nominating & Governance chaired by Karin-Joyce Tjon.

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