on Vicinity Motor Corp. (NASDAQ:VEV)
Vicinity Motor Corp. Provides Update on Filing of Quarterly Financial Statements
Vancouver, BC / ACCESSWIRE / September 25, 2024 - Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) has provided an update regarding the delay in filing its interim financial statements for the six months ended June 30, 2024. The British Columbia Securities Commission granted a Management Cease Trade Order (MCTO) on August 15, 2024, preventing the CEO and CFO from trading in company securities until the filings are completed. Shareholders are not affected by this order.
The company expects to finalize the interim filings by October 11, 2024, aligning with a 60-day workout and financial restructuring plan. During this period, Vicinity Motor Corp. will issue bi-weekly updates as part of compliance with NP 12-203. An insider trading blackout remains in effect until the filings are made.
Since the August 14, 2024 announcement, there has been no significant change in disclosed information, no additional defaults under NP 12-203, and no insolvency proceedings. The company continues its financial restructuring efforts as previously announced.
R. P.
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