Vicinity Motor Raises C$10M Via Debentures

Vicinity Motor Corp VEV has announced non-brokered financing of unsecured debenture units of C$10 million.
The company intends to use the proceeds for general working capital and fund contract requirements for recently received Vicinity bus orders.
Each Unit will consist of one 8% unsecured convertible debenture with interest payable upon maturity being 12 months from issue and 40 common share purchase warrants expiring 12 months after the date of issuance of such Warrants.
Price Action: VEV shares closed higher by 5.98% at $4.96 on Monday.

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