Vicinity Motor Corp. Receives $7.5 Million in Proceeds from Accelerated Warrant Exercises

Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , US OTC SOON to be up listed at Nasdaq
Ticker: VMC.V (previously BUS ,BUSXF at US OTC
Market cap at time of publication: $208 MCAD
Stock price at time of publication: $6,94 CAD ( reverse split price 2,31 CAD)
Business: Leading supplier of electric, CNG, gas and clean-diesel buses for
both public and commercial enterprise use in the U.S and Canada
Comparable peer : Greenpower Motor , Market cap $472 MCAD

Vicinity Motors today announced the receipt of $7.5 million through the exercise of 1,924,726 warrants since the beginning of the first quarter of 2021.

The majority of the warrants exercised were since the date that Vicinity initiated the acceleration provision of its outstanding warrants issued in connection with its October 2020 private placement. As of the date of this press release, zero warrants remain outstanding in Vicinity.

“We are pleased to have received $7.5 million in proceeds from these warrant exercises, further fortifying our balance sheet,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “This stands as a testament to the value our shareholders see in our future prospects, and we would like to thank them for their ongoing support. We look forward to continued operational execution in the months ahead as we march towards a near-term targeted Nasdaq uplisting.”

We own shares of this company personally.

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