MONTREAL, December 6, 2021 / PRNewswire / – The Lion Electric Company (NYSE: LEV) (TSX: LEV) (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy urban vehicles, is pleased to announce that the Company will be added to the S & P / TSX Composite Index prior to the opening of trading on Monday, December 20, 2021, following the quarterly review of the S & P / TSX Composite Index.
“This addition to the S & P / TSX Composite Index is a significant milestone for Lion in its first year as a publicly traded company,” commented Marc Bedard, CEO and founder of Lion. “This inclusion has the potential to improve our exposure to a wider range of potential investors. It should also improve the commercial liquidity of our stock,” he added.
The S & P / TSX Composite Index is the flagship index of the Canadian stock market. Inclusion in the S & P / TSX Composite Index has the potential to broaden a company’s investor base by opening it up to index funds and similar types of investment instruments.
About Lion Electric Company
Electric lion is an innovative manufacturer of zero emission vehicles. The company designs, designs and manufactures all-electric class 5 to 8 urban commercial trucks as well as all-electric buses and minibuses for the school, paratransit and public transit segments. Lion is a North American leader in electric transportation and designs, manufactures and assembles many components of its vehicles, including chassis, battery packs, truck cabs and bus bodies.
Always on the active search for new and reliable technologies, Lion vehicles have unique characteristics specifically adapted to its users and their daily needs. Lion believes the transition to fully electric vehicles will lead to major improvements in our society, our environment, and our overall quality of life. Lion shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.
Lion Electric, the shining movement
ATTENTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements in this press release that are not statements of historical fact, including statements about Lion’s beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements can be identified by the use of words such as “believe”, “may”, “will”, “continue”, “anticipate”, “intend”, “expect”, “should “,” Should “,” could “,” plan “,” project “,” potential “,” appear “,” seek “,” the future “,” objective “or other similar expressions and any other statement which predicts or indicates future events or trends or that are not statements about historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include statements regarding the conditional purchase order received from STC, the potential award of a subsidy to STC from ZETF, the number of vehicles submitted and the expected schedule of deliveries under the purchase order. received from STC.
The Company has made a number of economic, market and operational assumptions in the preparation and formulation of certain forward-looking statements contained in this press release, including, but not limited to, that Lion will be able retain and hire key personnel and maintain relationships with customers, suppliers and other business partners, that Lion will continue to operate in the normal course, that Lion will be able to execute on its growth strategy, that Lion will be able to successfully and on time complete construction of its manufacturing facility in the United States and its Quebec battery factory and innovation center, that Lion will not experience any significant disruption in the supply of raw materials on competitive terms, that Lion will be able to maintain its competitive position, that Lion will continue to improve its operational, financial controls and others and systems to manage its growth and size and that its operating results and financial condition will not be adversely affected, which Lion may benefit, directly or indirectly (including through its clients), from subsidies government and economic incentives in the future and that Lion will be able to obtain any additional financing required through equity or debt financing on terms acceptable to Lion. These estimates and assumptions are made by Lion in light of management’s experience and their perception of historical trends, current conditions and expected future developments, as well as other factors considered appropriate and reasonable in the circumstances. However, there can be no assurance that these estimates and assumptions will prove to be correct.
By their nature, forward-looking statements involve risks and uncertainties as they relate to events and depend on circumstances which may or may not occur in the future. Lion believes that these risks and uncertainties include, but are not limited to, the following: any adverse changes in general economic, business, market, financial, political and legal conditions in the United States and Canada, including as that consequences of the global COVID-19 pandemic and the emergence of variants of COVID-19 and of varying vaccination rates depending on the country; Lion’s inability to successfully and economically manufacture and distribute its vehicles on a large scale and meet the business needs of its customers; Lion’s reliance on key management and any inability to attract and / or retain key personnel; Lion’s inability to execute its growth strategy; Any adverse fluctuation and volatility in the price of raw materials included in key components used to make Lion’s products; Lion’s dependence on key suppliers and any inability to maintain an uninterrupted supply of raw materials; Lion’s inability to maintain its competitive position; Lion’s inability to reduce its procurement costs over time; any failure to maintain and improve Lion’s reputation and brand; any major product repair and / or replacement due to product warranty claims or product recalls; any failure of computer systems or any breach or incident of cybersecurity and data confidentiality; the reduction, elimination or discriminatory application of government subsidies and economic incentives or the reduction of the need for such subsidies; natural disasters, epidemics or pandemics, boycotts and geopolitical events; the outcome of any legal proceedings that may be brought against the Company from time to time.
These risks and uncertainties, as well as others relating to Lion’s business, are further described in the section entitled “Risk Factors” of the Company’s final prospectus dated May 5, 2021 (the “Canadian Prospectus”) filed with the Autorité des marchés financiers (the “AMF”) and the registration statement on Form F-1 (the “Registration Statement” filed with the Securities and Exchange Commission (the “SEC”) and declared in force on June 14, 2021 and other documents publicly filed with the AMF and the SEC. Many of these risks are beyond the ability of Lion’s management to control or predict. All forward-looking statements attributable to Lion or to persons acting on Lion’s behalf are expressly qualified in their entirety by the cautionary statements contained and the risk factors identified in the Canadian prospectus, registration statement and other documents filed with of the AMF and the SEC.
Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. In addition, forward-looking statements speak only as of the date on which they are made. Except as required by applicable securities laws, Lion assumes no obligation, and expressly disclaims any obligation, to update, revise or revise any forward-looking information, whether as a result of new information, events future or otherwise.
SOURCE Lion Electric