LION ELECTRIC REACHES DEFINITIVE AGREEMENT IN RESPECT OF THE SALE OF INNOVATION CENTER LOCATED IN MIRABEL, QUÉBEC
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Lion Electric Company has agreed to sell its innovation center in Mirabel, Québec, for C$50 million. The proceeds will be used to partially repay senior secured non-convertible debentures issued in July 2023.
December 05, 2024 | 10:15 pm
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Lion Electric Company is selling its innovation center in Mirabel, Québec, for C$50 million. The proceeds will be used to partially repay senior secured non-convertible debentures issued in July 2023.
The sale of the innovation center will provide Lion Electric with funds to reduce its debt burden, specifically the senior secured non-convertible debentures. This is a positive financial move, likely to improve the company's balance sheet and investor confidence.
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