Vicinity Motor (TSE:VMC) has released an update.
Vicinity Motor Corp., a North American commercial bus and electric vehicle supplier, has entered a workout agreement with creditors, including Royal Bank of Canada and Export Development Canada, to develop a restructuring plan within 60 days aimed at financial stability. The company will maintain limited operations and work with various stakeholders to preserve asset value, continue delivery processes, and support programs as they seek to return to full operations.
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