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Montreal, June 5, 2021 /CNW Telbec/-Electricity Sustainable Capital Corporation (“Sustainable electricity“) today announced the exercise (“transaction“), through its wholly-owned subsidiary Power Energy Corporation (“PEC“), option to acquire common stock (“share it“) of Lion Electric Company (“lion“) From certain shareholders of Lion.
The transaction will be based on the previously announced date November 27, 2020 Between PEC and Lion’s other shareholders, these shareholders granted PEC options to acquire up to 13,212,480 shares (“PEC Options“), subject to certain terms and conditions. According to the exercise of 10,941,585 PEC options, PEC will receive 8,891,812 shares on a cashless net settlement basis. Before the transaction, Sustainability held 58,409,354 shares, accounting for approximately 30.99% of the issued shares and issued shares. After the completion of the transaction, Sustainability will beneficially own and control 67,301,166 shares, accounting for approximately 35.70% of the issued and issued shares on an undiluted basis, assuming the exercise of all remaining PEC options (Represents up to an additional 2,270,895 shares), which accounts for approximately 36.91% of issued and issued shares
Power Sustainable holds shares and PEC options through PEC for investment purposes, and according to the nomination rights granted by Lion to PEC, certain nominees have been designated as Lion’s board members. Sustainable energy can increase or decrease the investment in Lion through prospectus issuance, open market, and private transactions in accordance with the registration rights granted to PEC by Lion, or in other ways, according to the terms and timing of sustainable energy. Factors, including the expiration of the 180-day lock-up period agreed with Lion, may be considered desirable.
For more information or to obtain a copy of the corresponding warning report, the report can also be found under Lion’s profile www.sedar.com, please contact:
Delia Cristia
General Counsel and Secretary
Power Sustainable Capital Corporation
751 Victoria Square
Montreal, Quebec
H2Y 2J3
Phone: (514) 286-7400
About sustainable power
Power Sustainable is a global multi-platform alternative asset management company. Together with our partners, we invest and support important and sustainable projects to benefit our society and create long-term value for all.We currently operate three different platforms: Sustainable China is built on decades of partnerships China Invest in sustainable business models; Energy infrastructure invest in the development, construction and operation of renewable energy infrastructure assets North America; Clean Energy Private Equity holds investments in Lion and Lumenpulse. Sustainable Energy has an office in Montreal, Toronto, Shanghai, Beijing with New Jersey And is a wholly-owned subsidiary of the power company Canada. For more information, please visit www.powersustainable.com.
Sustainable electricity relies on National Instrument 62-103 Part 5 in relation to any securities that Great-West Lifeco Inc. and its subsidiaries, IGM Financial Inc. and its subsidiaries, and any investment funds managed by them may hold Aggregate relief for entities within the power company Canada Group company.
Lion’s headquarter is located at 921 chemin de la Rivière-du-Nord, Saint-Jérôme, Quebec, Canada, J7Y 5G2.
SOURCE Power Sustainable Capital Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2021/05/c7615.html
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