# EDGAR Filing Document

**Accession Number:** 0001834975
**File Stem:** 0001731122-23-000387
**Filing Date:** 2023-3
**Character Count:** 13238
**Document Hash:** 593f4d29a130ecaaad0a572d0fbcf9d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-23-000387.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0001731122-23-000387

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230316

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230316

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICINITY MOTOR CORP
- **CENTRAL INDEX KEY:** 0001834975
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40412
- **FILM NUMBER:** 23740137

**BUSINESS ADDRESS:**
- **STREET 1:** 3168 262ND STREET
- **CITY:** ALDERGROVE
- **STATE:** A1
- **ZIP:** V4W 2Z6
- **BUSINESS PHONE:** (604) 607-4000

**MAIL ADDRESS:**
- **STREET 1:** 3168 262ND STREET
- **CITY:** ALDERGROVE
- **STATE:** A1
- **ZIP:** V4W 2Z6

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Grande West Transportation Group Inc.
- **DATE OF NAME CHANGE:** 20201203

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

___________________________

**FORM 6-K**

___________________________

**REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16 UNDER<br> THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of: March 2023**

**Commission File Number: 001-40412**

___________________________

**VICINITY MOTOR CORP.**

(Translation of registrant's name into English)

___________________________

**3168, 262nd Street**

**Aldergrove, British Columbia, Canada V4W 2Z6**

**Telephone: (604) 607-4000** 

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☐ Form 40-F ☒

The information contained in Exhibit 99.1 and Exhibit 99.2 of this Form 6-K is incorporated by reference into, or as additional exhibits to, as applicable, the registrant's Registration Statement on Form F-10 (File No. 333-258876).

**DOCUMENTS INCLUDED AS PART OF THIS REPORT**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**<u>Exhibit No.</u>** | &nbsp;&nbsp;**<u>Description</u>** |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;[Press release dated February 21, 2023 - Vicinity Motor Corp. Announces Closing of New US$30 Million Credit Facility with Royal Bank of Canada and Export Development Canada](e4481_ex99-1.htm) |
| &nbsp;&nbsp;99.2 | &nbsp;&nbsp;[Press release dated March 1, 2023 - Vicinity Motor Corp. Receives NASDAQ Notification Letter Regarding Minimum Bid Price Deficiency](e4481_ex99-2.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **Vicinity Motor Corp.**<br> (Registrant) | **Vicinity Motor Corp.**<br> (Registrant) | **Vicinity Motor Corp.**<br> (Registrant) |
| Date: March 16, 2023 | By: | /s/ Danial Buckle | /s/ Danial Buckle |
|  |  | Name: | Danial Buckle |
|  |  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Vicinity Motor Corp. Announces Closing of New US$30 Million Credit Facility with Royal Bank of Canada and Export Development Canada**

***Credit Facility to Finance VMC 1200 EV Truck Production in 2023 While Maintaining Funding for Existing Bus Orders***

 ****

**VANCOUVER, BC / ACCESSWIRE / February 21, 2023 /** Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has successfully closed on a previously announced US$30M credit facility from Royal Bank of Canada ("RBC") and Export Development Canada ("EDC") to fund production of the Company's VMC 1200 class 3 electric truck.

The US$30 million credit facility is designed for use with Vicinity's VMC 1200 all-electric class 3 truck and can be used for up to 100% of eligible production costs on the vehicle, excluding labor and overhead from Vicinity's assembly plants. The interest rate on this new facility is prime plus 2% and is secured by the existing assets of the Company. In addition to the US$30 million credit facility for the VMC 1200 trucks, RBC will continue to provide Vicinity with CAD$10 million in an asset-backed facility (ABL) for use with its existing bus orders and a US$3 million letter of credit facility.

"This credit facility expansion enables Vicinity to take advantage of more favorable market conditions and provides us with the working capital necessary to monetize our significant 1,100-unit order backlog for the VMC 1200 electric truck as we ramp production in 2023, while maintaining critical funding for existing bus orders," said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. "We appreciate the strong support and confidence provided by Royal Bank of Canada and Export Development Canada, helping to enable Canadian companies like Vicinity to be the drivers of a more sustainable future. This financing will help to fuel our growth strategy, with the goal of building long-term value for our shareholders."

As required by TSX-V Regulations and as previously disclosed in the Company's third quarter 2022 MD&A, during the quarter ended December 31, 2022, it distributed 4,815,999 shares under its ATM Offering at an average price of US$0.90 per share, having aggregate gross proceeds of US$5,460,597 and aggregate net proceeds of US$5,269,350. The Company paid commissions totaling US$191,246 in connection with the sale of the shares.

**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.uswww.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.

## Exhibit 99.2

**EXHIBIT 99.2**

**Vicinity Motor Corp. Receives NASDAQ Notification Letter Regarding Minimum Bid Price Deficiency**

**VANCOUVER, BC / ACCESSWIRE / March 1, 2023 /** Vicinity Motor Corp<u>.</u> (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it has received a notification letter from the Nasdaq Stock Market LLC (the "NASDAQ") dated February 28, 2023, notifying the Company that due to its closing bid price being below $1.00 per share for 30 consecutive days, it is not in compliance with the minimum bid price requirement as set forth under NASDAQ Listing Rule 5550(a)(2) for continued listing on the NASDAQ. This press release is issued pursuant to NASDAQ Listing Rule 5810(b), which requires prompt disclosure upon the receipt of a deficiency notification.

In accordance with the NASDAQ Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until August 28, 2023, to regain compliance with NASDAQ Listing Rule 5550(a)(2). To regain compliance, the Company's shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days, at which point the matter will be closed. In the event that the Company does not regain compliance by August 28, 2023 the Company may be eligible for an additional 180-day period to regain compliance.

The receipt of the Notification Letter has no immediate effect on the listing of the Company's shares, which will continue to trade uninterrupted on NASDAQ under the ticker "VEV". The Company will monitor the closing price for its common stock during the compliance period and intends to take all reasonable measures available to regain compliance under the NASDAQ Listing Rules and to maintain the listing of its common stock on the Nasdaq Capital Market.

**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

604-288-8043s

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.