Erum Motors, Inc. announced that it has entered into an equity acquisition agreement for a private placement of 100,000 common shares at a price of 1,000 KRW per share for gross proceeds of 100,000,000 KRW with new investor Leo Motors, Inc. on March 31, 2015. As part of the transaction, the investor has acquired of the outstanding common stock of the company. The transaction has received approval from the board of directors of the company.