LION ELECTRIC OBTAINS CREDITOR PROTECTION UNDER CCAA

MONTREAL, Dec. 19, 2024 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that the Superior Court of Quebec (Commercial Division) (the "Court") has issued an initial order (the "Initial Order") granting the Company and its subsidiaries protection under the Companies' Creditors Arrangement Act ("CCAA"). Deloitte Restructuring Inc. has been appointed pursuant to the initial CCAA order as monitor of the Company (in such capacity, the "Monitor") in order to assist the Company with its restructuring efforts and to report to the Court. The Company and its subsidiaries also intend to seek recognition of the CCAA proceedings in the United States under Chapter 15 of the Bankruptcy Code.

Read more at prnewswire.com