 FORT LAUDERDALE, Fla., Feb. 26, 2021 GLOBE NEWSWIRE -- LMP Automotive Holdings, Inc. NASDAQ: LMPX the Company or LMP, an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced that it has closed its previously announced private placement to a group of institutional investors the Investors, which resulted in gross proceeds to LMP of approximately 20 million, before deducting offering expenses. LMP intends to use the net proceeds to drive growth, including closing on its Stage 1 Acquisitions, which are expected to begin closings in the first week of March, and for working capital purposes. 