LION ELECTRIC REACHES DEFINITIVE AGREEMENT IN RESPECT OF THE SALE OF INNOVATION CENTER LOCATED IN MIRABEL, QUÉBEC

Provided By PR Newswire

Last update: Dec 5, 2024

Net proceeds to be used towards partial repayment of the Company's senior secured non-convertible debentures issued in July 2023

MONTREAL, Dec. 5, 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 it has reached a definitive agreement with Aéroport de Montreal to sell its innovation center facility located in Mirabel, Québec, for a purchase price of C$50,000,000, subject to customary purchase price adjustments and closing conditions.