Vicinity Motor Corp Announces That All Members Of The Board Of Directors Have Resigned From The Company
Portfolio Pulse from Benzinga Newsdesk
Vicinity Motor Corp. announced the resignation of its entire Board of Directors following a Receivership granted to the Royal Bank of Canada by the Superior Court of British Columbia. This change of control also led to the resignation of the CFO.
October 25, 2024 | 8:35 pm
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Vicinity Motor Corp. has experienced a significant corporate governance change with the resignation of its entire Board of Directors and CFO following a Receivership granted to RBC.
The resignation of the entire Board of Directors and the CFO indicates severe financial and operational distress, likely leading to negative investor sentiment and a decline in stock price.
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