Vicinity Motor Corp. Issues DSUs
Vicinity Motor Corp. (NASDAQ:VEV) announced the issuance of 141,089 Deferred Share Units (DSUs) to certain eligible directors as part of their remuneration for Q3 2022. This decision allows directors to receive their compensation in DSUs instead of cash. Vicinity specializes in electric vehicles for public and commercial use, including buses and delivery vehicles, emphasizing its partnership with J.B. Poindexter's EAVX for next-generation upfitting.
- Issuance of 141,089 DSUs supports director retention and aligns their interests with shareholders.
- Strategic partnerships with manufacturers like J.B. Poindexter enhance product offerings.
- Potential volatility in vehicle sales due to economic uncertainties.
- Forward-looking statements carry risks; actual results may differ from expectations.
VANCOUVER, BC / ACCESSWIRE / September 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 141,089 DSUs in connection with Directors Remuneration for Q3.
About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) 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, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the Company's strategic partner, for upfitting into next-generation delivery vehicles. For more information, please visit www.vicinitymotorcorp.com.
Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com
U.S. Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us
Canadian Investor Relations Contact:
MarketSmart Communications Inc.
877-261-4466
Info@marketsmart.ca
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/718396/Vicinity-Motor-Corp-Issues-DSUs
FAQ
What is the significance of the DSUs issued by Vicinity Motor Corp.?
How does Vicinity Motor Corp. generate revenue?
What is Vicinity Motor Corp.'s stock symbol?
What risks are associated with Vicinity Motor Corp.'s forward-looking statements?
