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ElectraMeccanica Founder and Former Board Member Jerry Kroll Agrees to Vote in Favor of Proposed Combination with Xos, Inc.
Monday, March 4, 2024Company Profile | Follow Company
Vancouver, BC, March 4, 2024--(T-Net)--ElectraMeccanica (NASDAQ: SOLO), a designer and assembler of electric vehicles, announced today that founder and former board member Jerry Kroll has agreed to vote in favor of the ElectraMeccanica's proposed combination with Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet electrification services provider, at the upcoming special meeting of ElectraMeccanica shareholders on Wednesday, March 20th.
"My goal was always to be involved with a company that could put the last gas station out of business, and I believe that combining ElectraMeccanica with Xos will create an entity that contributes to doing just that," said Kroll.
"Zero emissions commercial vehicles are a smart application of EV technology, there is clear market demand, and the ownership economics make good business sense for fleet operators. Ultimately, I'm voting my shares in support of a transaction that I believe will not only create economic value, but also help fulfill a mission that I remain passionately committed to." he continued.
Susan Docherty, CEO and Interim COO, ElectraMeccanica Vehicles Corp.
ElectraMeccanica CEO, Susan E. Docherty, commented "Jerry's support is appreciated, and speaks to the strong potential of our proposed combination with Xos. As both a founder with a clear vision, and a significant shareholder, Jerry shares our belief that this transaction represents an opportunity to participate in Xos' anticipated future growth. Xos is in-market today, with a great product that its customers love, and we are excited about what lies ahead as the company scales to meet demand from commercial fleet operators."
Additional information about the proposed combination, including information about how shareholders may vote, can be found at: xosandemv.com.
About ElectraMeccanica
ElectraMeccanica (NASDAQ: SOLO) is a designer and assembler of environmentally efficient electric vehicles that will enhance the urban driving experience, including commuting, delivery and shared mobility.
Additional Information and Where to Find It
Xos and ElectraMeccanica have mailed a joint proxy statement/management information circular (the "Joint Proxy Statement/Circular") and a proxy card to Xos' stockholders and ElectraMeccanica's shareholders as of the record date established for voting on the matters related to the proposed transaction (the "Arrangement") and any other matters to be voted on at the special meetings of Xos' stockholders and ElectraMeccanica's shareholders, respectively. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/CIRCULAR (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), AS APPLICABLE, AND ANY OTHER DOCUMENTS THAT XOS AND ELECTRAMECCANICA WILL FILE WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC") IN CONNECTION WITH THE PROPOSED TRANSACTION, OR INCORPORATE BY REFERENCE IN THE JOINT PROXY STATEMENT/CIRCULAR AND MANAGEMENT INFORMATION CIRCULARS, AS APPLICABLE, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Security holders may obtain free copies of the joint preliminary and definitive proxy statements and management information circulars (including any amendments or supplements thereto) and any other relevant documents filed by Xos and ElectraMeccanica with the SEC in connection with the proposed transaction (when they become available) on the SEC's website at www.sec.gov, on the Canadian System for Electronic Document Analysis and Retrieval+ website at https://www.sedarplus.ca/, on Xos' website at www.xostrucks.com, by contacting Xos' investor relations via email at investors@xostrucks.com, on ElectraMeccanica's website at https://ir.emvauto.com, or by contacting ElectraMeccanica's Investor Relations via email at IR@emvauto.com, as applicable.
Safe Harbor Statement This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws and applicable Canadian laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgement about possible future events. [ MORE ] |
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ElectraMeccanica Vehicles Corp.
Vancouver (CleanTech & Energy)
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