Vicinity Motor provides update on filing quarterly financial statements

Vicinity Motor provides an update to its news release dated August 14, 2024 announcing its request for a management cease trade order relating to the late filing of the Company’s interim financial statements, MD&A and applicable CEO and CFO certifications for the six months ended June 30, 2024. The Company’s principal regulator, the British Columbia Securities Commission, granted the MCTO on August 15, 2024, under National Policy 12-203 – Management Cease Trader Orders. Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer of the Company may not trade in securities of the Company until such time as the Company files the Interim Filings and the Commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities. The Company’s Board of Directors and management are continuing to work with its accounting team and other stakeholders to prepare the Interim Filings as soon as practicable and it is the Company’s reasonable expectation that the Interim Filings will be finalized on or before September 13, 2024. Until the Interim Filings are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release. The Company has imposed an insider trading blackout pending the filing of the Interim Filings.