Vicinity Motor Corp. to Exhibit Electric Vehicle Lineup at the Fully Charged LIVE Event in Vancouver from September 8-10, 2023

VANCOUVER, BC / ACCESSWIRE / August 18, 2023 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it will showcase the VMC 1200 Class 3 Electric Truck and Vicinity Lightning™ electric bus at the Fully Charged LIVE Canada event taking place September 8-10, 2023 at the Vancouver Convention Centre in Vancouver, Canada.

Fully Charged - the world's number 1 home energy and electric vehicle channel - is bringing its Fully Charged LIVE event to Canada for the first time at the Vancouver Convention Centre in Vancouver, BC. The event will host quality exhibits and attractions to thousands of attendees. Founded and hosted by Robert Llewellyn (Red Dwarf, Scrapheap Challenge, Carpool), the Fully Charged LIVE event is not solely about Electric Cars, but Electric Vehicles of all shapes and sizes, as well as home energy solutions.

Fully Charged LIVE
Date: September 8-10, 2023
Location: Vancouver Convention Centre, British Columbia, Canada
Vehicles on Display: VMC 1200 Class 3 Electric Truck, Vicinity Lightning™ Electric Bus

"The Fully Charged Show is a premier resource for electric vehicles with over 4 million viewers per month on its channel, and we are excited to showcase our electric vehicles at their live event," said William Trainer, Founder and CEO of Vicinity Motor Corp. "We look forward to introducing our VMC 1200 electric truck, highlighting the incredible degree of versatility it offers, and our Vicinity Lightning™ medium duty low-floor electric transit bus to attendees. This event provides an incredible opportunity to meet with potential customers and fleet operators and showcase our electrics vehicle to a highly engaged audience."

Further to the Company's news release of September 23, 2022, the Company has entered into an amending agreement with SagePoint Capital Partners. The Company has continued to work with SagePoint since fall 2022 on various strategic, corporate development and capital markets related initiatives. The amending agreement restructures the warrant portion of the arrangement. Warrants may be issued quarterly in arrears, following the completion of the services by SagePoint for the relevant quarter. Services may not exceed $150,000 per quarter, and number of permitted warrants per quarter will be calculated in accordance with TSXV policy relative to the value of the services provided. No warrants had been issued to-date, pending TSXV approval. The Company will issue to SagePoint an aggregate of 750,000 warrants exercisable into common shares at price of $1.68 per common share in respect of services performed from the commencement of the agreement, for each of the periods ending December 31, 2022, March 31, 2023 and June 30, 2023. 250,000 warrants expire on December 31, 2025; 250,000 warrants expire on March 31, 2026; and 250,000 warrants expire on June 30, 2026. The warrants are vested and not exercisable until 12 months into the term.

About Vicinity Motor Corp.

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@vicinitymotor.com

Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
VMC@mzgroup.us
www.mzgroup.us

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Vicinity Motor Corp.