SAINT-JÉRÔME, QC,
Aug. 30,
2022 /PRNewswire/ - On August
30, 2022, Marc Bedard,
CEO-Founder of The Lion Electric Company ("Lion") (NYSE:
LEV) (TSX: LEV), acquired 50,000 common shares of Lion.
Immediately prior to acquiring the common shares, Mr. Bedard had
beneficial ownership of, or control or direction over (including
through 9368-2672 Québec Inc., of which Mr. Bedard has control
over, directly or indirectly, a majority of the voting shares),
26,458,653 common shares and 2,877,641 exercisable options to
purchase common shares, which represented, in the aggregate,
approximately 15.2% of the issued and outstanding common shares of
Lion on a partially diluted basis. The common shares were acquired
through a trade through the facilities of the Toronto Stock
Exchange at a price of C$4.99 per
common share and an aggregate purchase price of C$249,950. Immediately following the acquisition
of the common shares, Mr. Bedard had beneficial ownership of, or
control or direction over (including through 9368-2672 Québec
Inc.), 26,508,653 common shares and 2,877,641 exercisable options
to purchase common shares, representing, in the aggregate
approximately 15.2% of the issued and outstanding common shares of
Lion on a partially diluted basis.
Mr. Bédard acquired the common shares for investment purposes
and may from time to time acquire further common shares, or dispose
of common shares, in each case subject to market, economic and
other relevant conditions.
Lion's head office is located at 921 chemin de la
Rivière-du-Nord, Saint-Jérôme, Québec J7Y 5G2, Canada. For inquiries or to
obtain a copy of the related early warning report required under
applicable Canadian securities legislation, a copy of which has
also been filed on Lion's profile on SEDAR at www.sedar.com, please
contact: Isabelle Adjahi, Vice President, Investor Relations and
Sustainable Development, Isabelle.Adjahi@thelionelectric.com,
450-432-5466, extension 171
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SOURCE Marc Bedard