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.