Vicinity Motor Corp. Issues DSUs

Rhea-AI Summary

Vicinity Motor Corp. (NASDAQ:VEV) has announced the granting of Deferred Share Units (DSUs) for certain directors as part of their remuneration for 2022. In total, 148,437 DSUs were issued for Q4 2022. Vicinity is a key player in the commercial electric vehicle market, specializing in electric buses and trucks. The company emphasizes its strong dealer network and partnerships for manufacturing. Forward-looking statements highlight potential risks including economic conditions and operational strategies.

Positive

• Issuance of 148,437 DSUs for director remuneration indicates confidence in long-term value.
• Vicinity's focus on commercial electric vehicles positions it well in a growing market.

Negative

• Forward-looking statements indicate uncertainty regarding vehicle sales volume and operational strategies.
• Economic conditions and market uncertainties could adversely impact future growth.

VANCOUVER, BC / ACCESSWIRE / December 30, 2022 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announces the granting of Deferred Share Units ("DSU"s). Certain Eligible Directors have requested that their respective director's remuneration for the calendar year 2022 be paid in Deferred Share Units ("DSUs") and accordingly, the Company has granted 148,437 DSUs in connection with Directors Remuneration for the fourth quarter.

About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

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

Investor Relations Contact:
Lucas Zimmerman
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 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. 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 economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, 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 source version on accesswire.com:
https://www.accesswire.com/733696/Vicinity-Motor-Corp-Issues-DSUs

FAQ

What are the recent developments with Vicinity Motor Corp. (VEV)?

Vicinity Motor Corp. has granted 148,437 Deferred Share Units (DSUs) to certain directors as part of their 2022 remuneration.

How many Deferred Share Units were issued by Vicinity Motor Corp.?

A total of 148,437 Deferred Share Units (DSUs) were issued for director remuneration in Q4 2022.

What is the focus of Vicinity Motor Corp. in the market?

Vicinity Motor Corp. specializes in commercial electric vehicles, including electric buses and trucks.

What risks does Vicinity Motor Corp. face according to the latest press release?

Risks include uncertainties in economic conditions, vehicle sales volume, and the success of operational strategies.