Vicinity Motor Corp. Announces Board Resignations
Vicinity Motor Corp. (NASDAQ:VEV) announced the resignation of its entire Board of Directors following a Receivership petition granted to Royal Bank of Canada by the Superior Court of British Columbia on October 21, 2024. The board members, including Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White, and John LaGourgue, resigned after receiving no contact from the appointed Receiver(s). Chief Financial Officer Tina Stewart has also stepped down from her position. The Receivership appointment triggered these resignations as it constitutes a 'Change of Control' event.
Vicinity Motor Corp. (NASDAQ:VEV) ha annunciato le dimissioni dell'intero Consiglio di Amministrazione a seguito di una petizione di amministrazione controllata concessa dalla Corte Superiore della Colombia Britannica alla Royal Bank of Canada il 21 ottobre 2024. I membri del consiglio, tra cui Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White e John LaGourgue, si sono dimessi dopo aver ricevuto nessun contatto dai Ricevitori nominati. Anche il Direttore Finanziario Tina Stewart si è dimessa dalla sua posizione. La nomina dei Ricevitori ha innescato queste dimissioni poiché costituisce un evento di 'Cambiamento di Controllo'.
Vicinity Motor Corp. (NASDAQ:VEV) anunció la renuncia de toda su Junta Directiva tras una petición de Receivership concedida a Royal Bank of Canada por el Tribunal Superior de Columbia Británica el 21 de octubre de 2024. Los miembros de la junta, incluidos Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White y John LaGourgue, renunciaron tras no recibir ningún contacto de los Receptores designados. La Directora Financiera Tina Stewart también ha dejado su cargo. La designación de los Receptores provocó estas renuncias ya que constituye un evento de 'Cambio de Control'.
비시니티 모터 주식회사 (NASDAQ:VEV)는 2024년 10월 21일 브리티시컬럼비아 고등 법원이 로열 뱅크 오브 캐나다에 승인한 관리 신청서에 따라 이사회 전체의 사임을 발표했습니다. 조셉 밀러, 앤드류 이만세, 윌리엄 트레이너, 크리스 스트롱, 제임스 화이트, 존 라구르게를 포함한 이사들은 지정된 수신자로부터 어떤 연락도 받지 못한 후 사임했습니다. 재무 최고 책임자 티나 스튜어트도 직위에서 물러났습니다. 수신자의 임명은'지배권 변경' 사건으로 간주되어 이러한 사임을 촉발했습니다.
Vicinity Motor Corp. (NASDAQ:VEV) a annoncé la démission de l'intégralité de son Conseil d'Administration à la suite d'une demande de mise sous séquestre accordée à la Banque Royale du Canada par la Cour Supérieure de la Colombie-Britannique, le 21 octobre 2024. Les membres du conseil, y compris Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White et John LaGourgue, ont démissionné après n'avoir reçu aucun contact des Liquidateurs désignés. La Directrice financière, Tina Stewart, a également quitté son poste. La nomination des Liquidateurs a déclenché ces démissions, car cela constitue un événement de 'Changement de Contrôle'.
Vicinity Motor Corp. (NASDAQ:VEV) gab die Rücktritt aller Mitglieder des Vorstands bekannt, nachdem das Oberste Gericht von British Columbia am 21. Oktober 2024 einen Antrag auf Receivership der Royal Bank of Canada stattgegeben hatte. Zu den Vorstandsmitgliedern, die zurücktraten, gehören Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White und John LaGourgue. Sie traten zurück, nachdem sie keinen Kontakt von den eingesetzten Verwaltern erhalten hatten. Auch die Finanzchefin Tina Stewart hat ihren Posten aufgegeben. Die Ernennung der Verwalter löste diese Rücktritte aus, da sie ein Ereignis für einen 'Kontrollwechsel' darstellt.
- None.
- Company placed under Receivership by Royal Bank of Canada
- Complete resignation of Board of Directors indicating severe corporate governance crisis
- CFO resignation adding to leadership vacuum
- Potential default or financial distress implied by Receivership
VANCOUVER, BC / ACCESSWIRE / October 25, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company") today announced that all members of the Board of Directors have resigned from the Company.
On October 21, 2024 Royal Bank of Canada was granted a petition for Receivership of Vicinity Motor Corp. by the Superior Court of British Columbia. Since the grant of Receivership, none of the Board Members has been contacted by the Receiver(s). As this appointment is considered a ‘Change of Control', the entire Board of Directors consisting of Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White and John LaGourgue have resigned from the Board. Tina Stewart, Chief Financial Officer, has also resigned her position.
Receiver Contact:
FTI Consulting - Vancouver
701 West Georgia Street
Suite 1450, PO Box 10089
Vancouver, BC V7Y 1B6
Company Contact:
Vicinity Motor Corp.
(604) 607-4000
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 securities laws. All statements, other than statements of historical fact, included herein 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. In particular, and without limitation, this news release contains forward-looking statements respecting the Company's expectations about the Creditors proceeding toward receivership and the inability of the Company to continue to operate. 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 the ongoing discussions with the Creditors and impact of a receivership order on the Company if obtained; uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, production prospects at Vicinity's assembly facility in the State of Washington, the success of Vicinity's strategic partnerships; 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 Motor Corp.
View the original press release on accesswire.com
FAQ
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