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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