Vicinity Motor Corp. Provides Director's Remuneration Update

Rhea-AI Summary

Vicinity Motor Corp. (NASDAQ:VEV) announced that selected directors opted for their 2021 remuneration to be compensated in Deferred Share Units (DSUs). A total of 40,713 DSUs were granted in relation to director remuneration for Q4. The company specializes in supplying commercial electric vehicles, including electric buses, trucks, and chassis for upfitting delivery vehicles. The company's growth is supported by strategic partnerships and a robust dealer network. The press release includes cautionary notes regarding forward-looking statements and associated risks.

Positive

• Directors choosing DSUs indicates confidence in long-term share value.
• Granting 40,713 DSUs aligns director interests with shareholder performance.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 31, 2021 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that certain Eligible Directors have requested that their respective director's remuneration for the calendar year 2021 be paid in Deferred Share Units ("DSUs") and accordingly, the Company has granted 40,713 DSUs in connection with Directors Remuneration for Q4.

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

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 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/680471/Vicinity-Motor-Corp-Provides-Directors-Remuneration-Update

FAQ

What is Vicinity Motor Corp.'s recent update regarding director remuneration?

Vicinity Motor Corp. announced that certain directors requested their 2021 remuneration be paid in Deferred Share Units (DSUs), granting a total of 40,713 DSUs for Q4.

How many DSUs were granted to directors of Vicinity Motor Corp.?

A total of 40,713 Deferred Share Units (DSUs) were granted to directors as part of their remuneration for Q4.

What does Vicinity Motor Corp. specialize in?

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

What stock symbol represents Vicinity Motor Corp.?

The stock symbol for Vicinity Motor Corp. is VEV.

What are the potential risks mentioned in Vicinity Motor Corp.'s press release?

The press release includes risks related to economic conditions, vehicle sales volume, operational strategies, and impacts from the COVID-19 pandemic.