Northern Genesis Acquisition Corp. Redeemable Warrants each warrant exercisable for shares of common stock at an exercise price of $11.50 per share NGA.WS

Transaction with NGA and Lion Electric

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Transaction with Northern Genesis Acquisition Corp.

On November 30, 2020, Lion announced that it had entered into a business combination agreement and plan of reorganization pursuant to which, subject to the satisfaction of customary closing conditions, a wholly-owned subsidiary of Lion will merge with Northern Genesis Acquisition Corp. (NYSE: NGA), a publicly traded special purpose acquisition company focused on a commitment to sustainability and strong alignment with environmental, social and governance principles. Upon completion of the transaction, holders of NGA shares will receive Lion shares on a one-for-one basis and Lion is expected to be listed on the New York Stock Exchange (NYSE) under the new ticker symbol “LEV”.