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Vicinity Motor Corp. Engages SagePoint Capital Partners

VANCOUVER, BC / ACCESSWIRE / September 23, 2022 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) (“Vicinity” or the “Company”), a UNITED STATES supplier of commercial electric vehicles, today announced that it has engaged SagePoint Capital Partners (“SagePoint”) as special advisor to supply advice and advice about various strategic, corporate development, and capital markets related initiatives.

“The administrative centre markets require expertise to navigate successfully and SagePoint brings this experience to Vicinity. Being an extension of management, SagePoint can help augment our overarching business and capital markets strategies once we continue steadily to expand our shareholder register with high-quality, long-term supportive investors,” said William Trainer, Founder and CEO of Vicinity Motor Corp. “We believe now could be the opportune time and energy to close the gap that exists between our end market acceptance and our capital markets positioning.”

Regarding the SagePoint’s engagement, and at the mercy of the approval of the TSX Venture Exchange, SagePoint will undoubtedly be issued 1,000,000 common share purchase warrants (“Warrants”) in the share capital of the business. The Warrants, which are at the mercy of a regulatory hold period, will set you back CAD$1.68, representing a 20% premium to the marketplace price and can vest on the 12-month anniversary of issuance, and expire on the 36-month anniversary of issuance. Additionally, SagePoint will receive cash compensation in the quantity of $200,000 payable in quarterly installments.

About Vicinity Motor Corp.

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is really a UNITED STATES supplier of electric vehicles for both public and commercial enterprise use. THE BUSINESS leverages a dealer network and close relationships with world-class manufacturing partners to provide its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. Furthermore, the business sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the business’s strategic partner, for upfitting into next-generation delivery vehicles. To learn more, please visit www.vicinitymotorcorp.com.

Company Contact:

John LaGourgue

VP Corporate Development

604-288-8043

[emailprotected]tymotor.com

U.S. Investor Relations Contact:

Lucas Zimmerman

MZ Group – MZ THE UNITED STATES

949-259-4987

[emailprotected]

www.mzgroup.us

Canadian Investor Relations Contact:

MarketSmart Communications Inc.

877-261-4466

[emailprotected]

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

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within this is of applicable securities laws. All statements, apart from statements of historical fact, included herein are forward-looking statements. Forward-looking statements are generally, however, not always, identified by words such as for example “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 performed. Forward-looking statements involve various risks and uncertainties. There may be no assurance that such statements will end up being accurate, and actual results and future events could differ materially from those anticipated such statements.

Critical indicators which could cause actual leads to differ materially from Vicinity’s expectations include uncertainties associated with the fiscal conditions in the markets where Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity’s operational strategies, the timing of the completion of the automobile assembly facility in hawaii of Washington, the result of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity’s strategic partnerships; along with other risk and uncertainties disclosed in Vicinity’s reports and documents filed with applicable securities regulatory authorities every once in awhile. Vicinity’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are created. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, as long as they change, except as required for legal reasons.

SOURCE: Vicinity Motor Corp.

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