on Vicinity Motor Corp. (NASDAQ:VEV)
Vicinity Motor Corp. Announces Board Resignations Amid Receivership
On October 25, 2024, Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) announced the resignation of its entire Board of Directors. This decision follows the Royal Bank of Canada's successful petition for a Receivership of the company, granted by the Superior Court of British Columbia on October 21, 2024. The Board, comprising Joseph Miller, Andrew Imanse, William Trainer, Chris Strong, James White, and John LaGourgue, has opted to step down, considering the Receivership as a 'Change of Control'.
Tina Stewart, the company's Chief Financial Officer, has also resigned. Since the Receivership, none of the board members have been contacted by the appointed Receivers, FTI Consulting, based in Vancouver. This shift in leadership brings uncertainties about the future operations of Vicinity Motor Corp.
R. H.
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