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- 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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