Vicinity Motor Corp. Updates Filing Status for Quarterly Financial Statements

VANCOUVER, BC / ACCESSWIRE / September 11, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC), a North American supplier of commercial electric vehicles, has provided an update on the filing of its interim financial statements. The company previously requested a management cease trade order (MCTO) due to delays in filing these statements.

The British Columbia Securities Commission granted the MCTO on August 15, 2024. Under this order, the company's CEO and CFO are restricted from trading in company securities until the interim filings are completed. However, shareholders retain the ability to trade their securities. Vicinity Motor Corp. expects to finalize these filings by October 11, 2024.

The company has committed to issuing bi-weekly default status reports to comply with regulatory guidelines until the filings are completed. It has also implemented an insider trading blackout. As of now, there have been no significant changes or insolvency proceedings apart from a financial restructuring plan with secured lenders.