Vicinity Motor Corp. Announces $1.6 Million Contract for 4 Vicinity(TM) Buses to County of Simcoe, Canada

Rhea-AI Summary

Vicinity Motor Corp. (OTCQX:BUSXF) announced a new purchase order from the County of Simcoe, Ontario, for four Vicinity™ buses valued at over $1.6 million. This order includes three 30-foot buses and one 35-foot bus, with delivery expected in the first half of 2022. CEO William Trainer emphasized the company’s position in the Canadian market and its commitment to zero-emission transit solutions. Vicinity also highlighted plans for further expansion into the U.S. market, supported by existing distribution partners.

Positive

• New purchase order for 4 buses valued at over $1.6 million.
• Strengthens Vicinity’s position in the Canadian bus market.
• Opportunity for expansion into the U.S. market alongside tier-1 distribution partners.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 29, 2021 / Vicinity Motor Corp. (TSXV:VMC) (OTCQX:BUSXF) (FRA:6LG) ("Vicinity Motor", "VMC" or the "Company") (Formerly Grande West Transportation Group), a leading supplier of electric, CNG, gas and clean diesel buses, today announced the receipt of a new purchase order from the County of Simcoe in Ontario, Canada for 4 Vicinity™ buses for a total value of over $1.6 million.

Per the terms of the supply agreement, the County of Simcoe will order three (3) of the Company's 30-foot Vicinity™ buses as well as one (1) larger 35-foot Vicinity bus for delivery in the first half of 2022.

"We are pleased to have secured this $1.6 +million agreement with the County of Simcoe, continuing our strong legacy as a leading bus supplier within the robust Canadian market," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. "Our core business and strong reputation provide a springboard as we help enable the transition to low-emission and zero-emission options at public transit agencies across North America. We look forward to continued traction in our home market in the quarters ahead, supporting us as we expand into the lucrative U.S. market alongside our tier-1 distribution partners."

About Vicinity Motor Corp.

Vicinity Motor Corp. (TSXV:VMC) (OTCQX:BUSXF) (FRA:6LG) is a leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the U.S and Canada. The Company's flagship line of Vicinity™ buses, which maintain a dominant market share in Canada, are produced by the Company's world-class manufacturing partners or at the Company's Buy America Act compliant assembly facility in Washington state. The Company's innovative Vicinity Lightning™ EV bus, enabled through a tier-1 strategic supply agreement with BMW 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.grandewest.com or www.vicinitybus.com for product details.

Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@grandewest.com

Investor Relations Contact:
Lucas Zimmerman or Mark Schwalenberg, CFA
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the receipt of final approval from the TSX-V; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Vicinity Motors Corp.

View source version on accesswire.com:
https://www.accesswire.com/642489/Vicinity-Motor-Corp-Announces-16-Million-Contract-for-4-VicinityTM-Buses-to-County-of-Simcoe-Canada

FAQ

What is the value of Vicinity Motor Corp's new contract with the County of Simcoe?

The contract is valued at over $1.6 million.

How many buses did Vicinity Motor Corp receive an order for?

Vicinity received an order for four buses.

When is the delivery expected for the new buses ordered by the County of Simcoe?

Delivery is expected in the first half of 2022.

What type of buses are included in the County of Simcoe order?

The order includes three 30-foot buses and one 35-foot bus.

What is the stock symbol for Vicinity Motor Corp?

The stock symbol for Vicinity Motor Corp is BUSXF.