{"id":1641,"date":"2021-10-05T16:43:24","date_gmt":"2021-10-05T15:43:24","guid":{"rendered":"https:\/\/esgfireat40.frontender.se\/uncategorized\/esgfire-portfolio-update-november-2021-2\/"},"modified":"2022-01-25T09:48:28","modified_gmt":"2022-01-25T08:48:28","slug":"vicinity-motor-corp-announces-closing-of-10m-financing","status":"publish","type":"post","link":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/","title":{"rendered":"Vicinity motor corp. announces closing of $10m financing"},"content":{"rendered":"

Company: Vicinity Motor Corp(formerly Grande West Transportation )
\nListings :TSXV<\/a>\u00a0,\u00a0NASDAQ<\/a>
\nTicker: VMC.V & VEV
\nMarket cap at time of publication: $229.69 MCAD
\nStock price at time of publication: $7.45 CAD ( reverse split price $2.48 CAD)
\nBusiness: Leading supplier of electric, CNG, gas and clean-diesel buses for
\nboth public and commercial enterprise use in the U.S and Canada
\nComparable peer :\u00a0Greenpower Motor\u00a0<\/a>, Market cap $403 MCAD
\nWebsite:\u00a0https:\/\/vicinitymotorcorp.com\/<\/a><\/p>\n

Vicinity Motor Corp, A leading supplier of electric, CNG and clean diesel vehicles, announces that, further to its news release dated September 27, 2021, it has closed its non-brokered financing of unsecured debenture units (each a \u201cUnit\u201d) in the principal amount of CAD$10,300,000 (the \u201cOffering\u201d). The Company will use the proceeds for general working capital and to fund contract requirements for recently received Vicinity bus orders.<\/p>\n

Each Unit was sold at an offering price of $985.00 per Unit and consists of one 8% unsecured debenture of the Company in the principal amount of $1,000 (each, a \u201cDebenture\u201d) with interest payable upon maturity being 12 months from the date the Debentures are issued and 40 common share purchase warrants (each, a \u201cWarrant\u201d) expiring 12 months after the date of issuance of such Warrants.<\/p>\n

The Debentures will be repaid in cash at maturity. Each Warrant will entitle the holder thereof to purchase one Common Share (each, a \u201cWarrant Share\u201d) at an exercise price of $7.50 per Warrant Share at any time up to 12 months following the closing date of the Offering (the \u201cClosing Date\u201d), subject to adjustment in certain events. The Debentures, in whole or in part, will be convertible into common shares of the Company at the option of the holder at any time following the occurrence of an Event of Default that is uncured for a period of ten (10) business days (the \u201cConversion Date\u201d), at a conversion price equal to the market price on the date the Event of Default. Holders converting their Debentures will receive accrued and unpaid interest thereon to the date of actual conversion.<\/p>\n

The Company will have the right at any time, on 10 days\u2019 notice, to prepay the Debentures in whole or in part, pro rata among the holders. The repayment shall be in cash, against the
\nprincipal amount of the Debenture plus accrued and unpaid interest.<\/p>\n

The Company paid an administrative fee of 0.5% of the funds raised to Leede Jones Gable Inc. The Debentures, Warrants and the Common Shares issuable upon the exercise of the Warrants or conversion of the Debentures will be subject to a statutory resale restriction expiring on February 5, 2022. The Company received TSX Venture Exchange approval to close the Offering and issue the Debentures and Warrants.<\/p>\n

 <\/p>\n

ESG Comments:<\/strong>
\nWe are very pleased to read that Vicinity Motor has announced the closing of a $10M financing. The financing was done at a very reasonable rate which shows the faith that investors have in the company. We are looking forward to following Vicninty\u2019s path to hopefully becoming one of the market leaders of the electric vehicles public transportation sector!<\/strong><\/p>\n

Legal Disclaimer<\/strong><\/p>\n

We own shares of these companies personally.<\/strong><\/p>\n

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for Educational purposes only and are not to be interpreted as tips , financial advice or recommendations of any kind to either buy or sell any stocks.<\/strong><\/p>\n

Companies may or may not be paying us for content posted on this blog.<\/p>\n","protected":false},"excerpt":{"rendered":"

Company: Vicinity Motor Corp(formerly Grande West Transportation ) Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V & VEV Market cap at time of publication: $229.69 MCAD Stock price at time of publication: $7.45 CAD ( reverse split price $2.48 CAD) Business: Leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the […]<\/p>\n","protected":false},"author":1,"featured_media":1746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[148,128,9],"tags":[],"class_list":["post-1641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-reports-news-interviews","category-vicinity-motor-corp"],"yoast_head":"\nVicinity motor corp. announces closing of $10m financing - ESG Fire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vicinity motor corp. announces closing of $10m financing - ESG Fire\" \/>\n<meta property=\"og:description\" content=\"Company: Vicinity Motor Corp(formerly Grande West Transportation ) Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V & VEV Market cap at time of publication: $229.69 MCAD Stock price at time of publication: $7.45 CAD ( reverse split price $2.48 CAD) Business: Leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Fire\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-05T15:43:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-25T08:48:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/#\\\/schema\\\/person\\\/1f06d28da73c3c7684f3e06a9d1e2f32\"},\"headline\":\"Vicinity motor corp. announces closing of $10m financing\",\"datePublished\":\"2021-10-05T15:43:24+00:00\",\"dateModified\":\"2022-01-25T08:48:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/\"},\"wordCount\":574,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/esgfire.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/Blog-VMC-15.png\",\"articleSection\":[\"All Posts\",\"Reports \\\/ News \\\/ Interviews\",\"Vicinity Motor Corp\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/\",\"url\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/\",\"name\":\"Vicinity motor corp. announces closing of $10m financing - ESG Fire\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/esgfire.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/Blog-VMC-15.png\",\"datePublished\":\"2021-10-05T15:43:24+00:00\",\"dateModified\":\"2022-01-25T08:48:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/#\\\/schema\\\/person\\\/1f06d28da73c3c7684f3e06a9d1e2f32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#primaryimage\",\"url\":\"https:\\\/\\\/esgfire.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/Blog-VMC-15.png\",\"contentUrl\":\"https:\\\/\\\/esgfire.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/Blog-VMC-15.png\",\"width\":720,\"height\":405},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/vicinity-motor-corp\\\/vicinity-motor-corp-announces-closing-of-10m-financing\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/esgfire.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vicinity motor corp. announces closing of $10m financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/esgfire.com\\\/en\\\/\",\"name\":\"ESG Fire\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/esgfire.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/esgfire.com\\\/en\\\/#\\\/schema\\\/person\\\/1f06d28da73c3c7684f3e06a9d1e2f32\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/esgfire.com\"],\"url\":\"https:\\\/\\\/esgfire.com\\\/en\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vicinity motor corp. announces closing of $10m financing - ESG Fire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/","og_locale":"en_US","og_type":"article","og_title":"Vicinity motor corp. announces closing of $10m financing - ESG Fire","og_description":"Company: Vicinity Motor Corp(formerly Grande West Transportation ) Listings :TSXV\u00a0,\u00a0NASDAQ Ticker: VMC.V & VEV Market cap at time of publication: $229.69 MCAD Stock price at time of publication: $7.45 CAD ( reverse split price $2.48 CAD) Business: Leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the […]","og_url":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/","og_site_name":"ESG Fire","article_published_time":"2021-10-05T15:43:24+00:00","article_modified_time":"2022-01-25T08:48:28+00:00","og_image":[{"width":720,"height":405,"url":"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#article","isPartOf":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/"},"author":{"name":"admin","@id":"https:\/\/esgfire.com\/en\/#\/schema\/person\/1f06d28da73c3c7684f3e06a9d1e2f32"},"headline":"Vicinity motor corp. announces closing of $10m financing","datePublished":"2021-10-05T15:43:24+00:00","dateModified":"2022-01-25T08:48:28+00:00","mainEntityOfPage":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/"},"wordCount":574,"commentCount":0,"image":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png","articleSection":["All Posts","Reports \/ News \/ Interviews","Vicinity Motor Corp"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/","url":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/","name":"Vicinity motor corp. announces closing of $10m financing - ESG Fire","isPartOf":{"@id":"https:\/\/esgfire.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#primaryimage"},"image":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png","datePublished":"2021-10-05T15:43:24+00:00","dateModified":"2022-01-25T08:48:28+00:00","author":{"@id":"https:\/\/esgfire.com\/en\/#\/schema\/person\/1f06d28da73c3c7684f3e06a9d1e2f32"},"breadcrumb":{"@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#primaryimage","url":"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png","contentUrl":"https:\/\/esgfire.com\/wp-content\/uploads\/2021\/10\/Blog-VMC-15.png","width":720,"height":405},{"@type":"BreadcrumbList","@id":"https:\/\/esgfire.com\/en\/vicinity-motor-corp\/vicinity-motor-corp-announces-closing-of-10m-financing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/esgfire.com\/en\/"},{"@type":"ListItem","position":2,"name":"Vicinity motor corp. announces closing of $10m financing"}]},{"@type":"WebSite","@id":"https:\/\/esgfire.com\/en\/#website","url":"https:\/\/esgfire.com\/en\/","name":"ESG Fire","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/esgfire.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/esgfire.com\/en\/#\/schema\/person\/1f06d28da73c3c7684f3e06a9d1e2f32","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fafe76af561fa01efc32549f7a943e5fdf81c45ad220c538f58f3042dc7f82f3?s=96&r=g","caption":"admin"},"sameAs":["http:\/\/esgfire.com"],"url":"https:\/\/esgfire.com\/en\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/posts\/1641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/comments?post=1641"}],"version-history":[{"count":4,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/posts\/1641\/revisions"}],"predecessor-version":[{"id":1747,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/posts\/1641\/revisions\/1747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/media\/1746"}],"wp:attachment":[{"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/media?parent=1641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/categories?post=1641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/esgfire.com\/en\/wp-json\/wp\/v2\/tags?post=1641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}