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Vicinity Motor Corp. Receives Order for 100 VMC 1200 EV Trucks from Paradigm Automotive
Paradigm to Serve as Vicinity's Exclusive VMC1200 Dealer in Hamilton and Niagara Regions of Ontario
VANCOUVER, BC - February 18, 2022 - Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) ("Vicinity" or the "Compan
--->y"), a North American supplier of commercial electric vehicles, today announced that it has signed a sales and marketi
--->ng agreement with Paradigm Automotive Corporation ("Paradigm"), an automotive sales, leasing and upfitting company in
--->Ontario, Canada, including an initial CAD$12.0 million order for 100 VMC 1200 Class 3 electric trucks.
Paradigm has also been appointed to act as Vicinity's exclusive dealer in the Hamilton and Niagara regions of Ontario.
---> The VMC 1200 deliveries are expected to begin in the second quarter of 2022.
"This announcement further solidifies our footprint within the greater Ontario area and further validates our VMC 1200
---> - which has had an incredibly strong market reception to-date," said William Trainer, Founder and CEO of Vicinity Mot
--->or Corp. "Paradigm represents a fantastic partner in their respective markets in Hamilton and Niagara and we look forw
--->ard to working closely with them in the months ahead to provide their wide base of customers with an exciting all-elec
--->tric alternative to their current Class 3 fleets."
Rob Burda, General Manager at Paradigm, added: "There are few class 3 EV trucks readily available on the market today
--->and given the ample range, straightforward operation and attractive price of the VMC 1200 - paired with Vicinity's lon
--->gstanding reputation for quality - makes it a solid contender for everyday use on jobsites. The VMC 1200 EV truck stan
--->ds in a class of its own and I look forward to introducing this exciting new EV to our established base of customers."
With strong sales momentum continuing, management is pleased to announce that sales backlog is in excess of $100 milli
About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV) (TSXV:VMC) (FRA:6LGA) is a North American supplier of electric vehicles for both pub
--->lic and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class man
--->ufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck
--->and a VMC Optimal-EV shuttle bus. In addition, the Company sells its proprietary electric chassis alongside J.B. Poind
--->exter business unit EAVX, the Company's strategic partner, for upfitting into next-generation delivery vehicles. For m
--->ore information, please visit www.vicinitymotorcorp.com.
VP Corporate Development
U.S. Investor Relations Contact:
Lucas Zimmerman or Mark Schwalenberg, CFA
MZ Group - MZ North America
Canadian Investor Relations Contact:
MarketSmart Communications Inc.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts r
--->esponsibility 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 "forw
--->ard-looking statements") within the meaning of applicable securities laws. All statements, other than statements of hi
--->storical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not alwa
--->ys, 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 suc
--->h statements will prove to be accurate, and actual results and future events could differ materially from those antici
--->pated in such statements.
Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertaint
--->ies relating to the anticipated timing for the delivery of Vicinity's trucks, Skydome's success as Vicinity's exclusiv
--->e dealer in the City of Brampton, the economic conditions in the markets in which Vicinity operates, vehicle sales vol
--->ume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion o
--->f the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-im
--->posed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties d
--->isclosed 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 m
--->ade. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or oth
--->er factors, should they change, except as required by law.
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