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Vicinity Motor Corp. Announces Closing Of $10M Financing

Oct 05, 2021•almost 4 years ago

Amount Raised

$10 Million

Vancouver

Description

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity Motor" or the "Company"), a leading supplier of electric, CNG, and clean diesel vehicles, announces that, further to its news release dated September 27, 2021, it has closed its non-brokered financing of unsecured debenture units (each a "Unit") in the principal amount of CAD$10,300,000 (the "Offering"). The Company will use the proceeds for general working capital and to fund contract requirements for recently received Vicinity bus orders.

Company Information

Company

Vicinity Motor

Location

Vancouver, Washington, United States

About

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a leading supplier of electric, CNG and clean-diesel vehicles for both public and commercial enterprise use in the U.S and Canada. The Company's flagship line of VicinityTM buses, which maintains a market segment leadership position in Canada, is produced by the Company's world-class manufacturing partners and will be produced at the soon to be completed Buy America Act compliant assembly facility in the State of Washington. Vicinity's innovative Vicinity LightningTM EV bus, enabled through a strategic supply agreement with BMW for batteries and components, seeks to lead the global transition to more sustainable transit vehicles in the private and public markets. For more information, please visit www.vicinitymotorcorp.com.

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