Technology

LION ELECTRIC ANNOUNCES COMPLETION OF REORGANIZATION TRANSACTION

Published

1 year ago

May 23, 2025

MONTREAL, May 23, 2025 /CNW/ – The Lion Electric Company (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today the completion of the transactions (collectively, the “Transactions”) contemplated by the previously announced definitive agreement (the “Definitive Agreement”) dated May 15, 2025, entered into with a corporation newly incorporated for the sole purpose of completing the Transactions on behalf of a consortium comprised of Quebec based investors. The Definitive Agreement was entered into in connection with the Company’s proceedings under the Companies’ Creditor Arrangement Act (Canada) (the “CCAA Proceedings”) and the related sale and investment solicitation process conducted under the supervision of the Superior Court of Quebec (Commercial Division) (the “Court”) and Deloitte Restructuring Inc., in its capacity as Court-appointed monitor of the Company and its subsidiaries (in such capacity, the “Monitor”). The Definitive Agreement and the transaction contemplated thereby were approved by the Court on May 22, 2025.

Pursuant to the Transactions: (i) all of the issued and outstanding common shares of the Company, as well as any and all options, warrants and other instruments exercisable into, or convertible or exchangeable for, common shares of the Company, were ultimately cancelled for no consideration, (ii) certain excluded assets and excluded liabilities of the Company and its subsidiaries were vested-out and transferred to entities newly-incorporated for such purposes (the “ResidualCos”), and (iii) the Purchaser subscribed for a new class of common shares in the capital of the Company, as a result of which, upon closing of the transactions contemplated by the Definitive Agreement, the Purchaser became the sole shareholder of the Company.

Following the completion of the Transactions, the Company and certain of its subsidiaries emerged from the CCAA Proceedings and ceased to be applicants thereunder. Upon closing of the Transaction, the ResidualCos became applicants in the CCAA Proceedings. It is expected that the ResidualCos will be liquidated and eventually would-up by way of bankruptcy proceedings.

On May 15, 2025, the Autorité des marchés financiers issued a partial revocation order in respect of the failure-to-file cease trade order issued on April 17, 2025 (the “FFCTO”) in respect of the securities of the Company, solely for the purpose of completing the Transactions with the Purchaser.

Following completion of the Transactions, the Company intends to apply to cease to be a reporting issuer order in all of the provinces and territories of Canada and for a full revocation of the FFCTO.

Related Party Transaction Disclosure

The Purchaser is a “related party” of the Company as a result of Mr. Pierre Wilkie, a director of the Company, forming part of the consortium, and, accordingly, the Transactions constituted a “related-party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). As a result of the Company being the subject of insolvency proceedings and the transactions contemplated by the Definitive Agreement not providing any recovery to holders of the Company’s equity securities, and subject to the orders granted by the Court under the Reverse Vesting Order, the Company relied on the exemptions to the formal valuation and majority of the minority approval requirements provided under Section 5.5(f) and 5.7(d), respectively, of MI 61-101.

ABOUT LION ELECTRIC

Lion Electric is an innovative manufacturer of zero-emission vehicles, including all electric school buses. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles’ components, including chassis, battery packs, truck cabins and bus bodies.

Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the expectations that the Company cease to be a reporting issuer and that the FFCTO be fully revoked following completion of the transactions. Forward-looking statements may be identified by the use of words such as “believe,” “may,” “will,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “project,” “potential,” “seem,” “seek,” “future,” “target” or other similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements may contain such identifying words. The forward-looking statements contained in this press release are based on a number of estimates and assumptions that Lion believes are reasonable when made. Such estimates and assumptions are made by Lion in light of the experience of management and their perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information on estimates, assumptions, risks and uncertainties underlying certain of the forward-looking statements made in this press release, please consult section 23.0 entitled “Risk Factors” of the Company’s annual management’s discussion and analysis of financial condition and results of operations (MD&A) for the fiscal year 2023, as well as other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission, including the Company’s interim MD&As. Many of these risks are beyond Lion’s management’s ability to control or predict. All forward-looking statements attributable to Lion or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained and risk factors identified in the Company’s annual MD&A for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Except as required under applicable securities laws, Lion undertakes no obligation, and expressly disclaims any duty, to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE The Lion Electric Co.

Technology

DATABANK CLOSES $1.45 BILLION IN NEW FINANCING ACROSS TWO TRANSACTIONS

Published

14 minutes ago

June 15, 2026

$800 Million Revolving Credit Facility and $650 Million Upsize of Red Oak, Texas Campus Financing Strengthen DataBank’s Capital Structure and Support Continued Growth

DALLAS, June 15, 2026 /PRNewswire/ — DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed services, today announced the successful closing of two financing transactions totaling $1.45 billion: an $800 million corporate revolving credit facility and a $650 million upsize of its existing construction financing for its Red Oak, Texas data center campus.

$800 Million Revolving Credit Facility

DataBank closed an $800 million revolving credit facility (the “Corporate Revolver”) maturing in 2031. Proceeds will be used for general corporate purposes, including working capital needs, capital expenditures, and liquidity support for the company’s continued growth and acquisition strategy.

This Corporate Revolver was arranged by a syndicate of banks led by Citizens Bank, N.A. along with Joint Lead Arrangers Citibank, MUFG Bank, Ltd., PNC Bank, N.A., TD Securities (USA) LLC, Truist Securities, Inc., U.S. Bank, N.A. and Wells Fargo Securities.

$650 Million Red Oak Campus Financing Upsize

DataBank also closed a $650 million upsize of its existing $2.0 billion construction financing for its Red Oak, Texas campus, originally announced in April 2026. This brings the total Red Oak campus financing to $2.65 billion. The upsize supports construction of the fourth building on this campus, adding 60 megawatts of incremental IT capacity.

The upsize consists of $400 million in bank financing, led by the same institutions as the April 2026 announcement, and $250 million of notes placed in a private placement, which is DataBank’s first private placement transaction. The private placement marks a significant milestone for DataBank, opening the company to a new institutional investor base and further diversifying its sources of capital for development projects. MUFG served as Lead Placement Agent, with TD Securities (USA) LLC and Barclays as Joint Placement Agents, and Citibank, Citizens Bank, N.A., and National Bank of Canada as Co-Placement Agents.

“This new revolving credit facility strengthens our financial flexibility and reflects the confidence our lending partners have in DataBank’s business model and long-term growth trajectory,” said Raul K. Martynek, Chief Executive Officer of DataBank.

“As demand for data center capacity continues to accelerate, having a robust and flexible capital structure is essential. This revolver, combined with the upsized Red Oak financing and our inaugural private placement, positions DataBank to move decisively as we expand our platform and deepen our relationships with hyperscale, cloud, and enterprise customers,” said Kevin Ooley, President and Chief Financial Officer of DataBank.

Davis Polk & Wardwell LLP served as legal counsel to DataBank on both transactions.

About DataBank

DataBank helps the world’s largest enterprises, technology, and content providers ensure their data and applications are always on, always secure, always compliant, and ready to scale to meet the needs of the artificial intelligence era.

Recognized by Deloitte in 2023 and 2024, and Inc. 5000 in 2024 as one of the fastest-growing private US companies, DataBank’s edge colocation and infrastructure footprint consists of 70+ “HPC-ready” data centers in 25+ markets, 20 interconnection hubs, and on-ramps to an ecosystem of cloud providers with virtually unlimited reach.

We combine these platforms with contract portability, managed security, compliance enablement, hands-on support, and a guarantee of 100% uptime availability, to give our customers absolute confidence in their IT infrastructure and the power to create a boundless digital future for their business.

To learn more, follow us on LinkedIn or subscribe to our YouTube channel. To tour a facility, visit DataBank or call 1(800) 840-7533.

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SOURCE DataBank

Technology

Hasung Expands Global Reach with Advanced Precious Metal Processing Solutions

Published

14 minutes ago

June 15, 2026

SHENZHEN, China, June 15, 2026 /PRNewswire/ — Hasung, a professional solutions provider in the field of precious metals and alloys founded in 2014, is leveraging its years of accumulated expertise in precious metal processing and independent R&D capabilities to accelerate the internationalization of Chinese high-end precious metal equipment manufacturing, as the global jewelry manufacturing and precious metal processing industry continues to develop towards higher precision, higher purity, and higher efficiency.

The global jewelry market reached approximately USD 381.5 billion in 2025 and is projected to exceed USD 578 billion by 2033, driving increasing demand for high-precision precious metal manufacturing technologies, according to Grand View Research.

Advanced Precious Metal Processing Technology as the Upgrading Direction

In the field of precious metal processing, purity determines value, and details reveal quality. As global refineries, jewelers, and gold bullion manufacturers place stringent demands on product quality and manufacturing efficiency, traditional processing methods have become the production bottleneck due to unresolved issues such as oxidation, porosity, and precision. As a result, advanced casting, melting, and precision processing technologies are emerging as an important development direction for high-end precious metal manufacturing.

Guided by a focus on technology and product quality, Hasung has gradually formed an independent and highly stable core product system based on its deep understanding of industrial automation systems and advanced technology R&D capabilities. This system covers continuous casting equipment, metal granulating equipment, induction melting furnaces, gold bar casting machines, jewelry casting machines, metal powder making machines, etc.

This precious metal solution, which integrates intelligent control, efficient heating, and precision forming, effectively addresses the core pain points of the precious metal processing industry, such as oxidation control, yield, and production efficiency. Advanced IGBT wafers and high-frequency heating technology not only enable rapid melting of metal in a very short time, but also significantly reduce unit energy consumption. The PID intelligent temperature control system ensures that the molten metal has optimal fluidity, avoiding shrinkage porosity or uneven grain structure caused by temperature fluctuations.

Meanwhile, Hasung places strong emphasis on process stability and precision control. Through continuous optimization of equipment structure, temperature management, and automation systems, the company helps customers achieve greater consistency in precious metal casting and processing operations.

Rising Demand for High-Precision Precious Metal Processing Equipment

High-end precious metal processing equipment has long been dominated by German and Japanese manufacturers, especially when it comes to precision casting, temperature precision, and automation.

As manufacturers worldwide increasingly prioritize casting quality, material utilization, and process consistency, companies with strong engineering capabilities are gaining greater opportunities to compete in the global market.

Through sustained investment in engineering innovation, intelligent control systems, and precision manufacturing technologies, Hasung has continued to strengthen its competitiveness in high-end precious metal processing equipment. The results show up in how the equipment actually performs in production environments: more consistent, more reliable, less operator intervention.

That reputation has opened doors. Hasung’s equipment is now running in jewelry workshops, precious metal refineries, and advanced materials operations across Europe, Southeast Asia, the Middle East, and South America.

Expanding from Jewelry into Advanced Materials

As the global advanced manufacturing industry continues to increase its demand for high-performance metal materials, advanced precious metal processing technology is applied from the jewelry industry to a wider range of industrial applications.

In addition to the traditional jewelry manufacturing market, Hasung has also been actively expanding its applications in advanced materials and scientific research in recent years, like metal powder manufacturing, new material experimentation, precision alloy processing, and others. Its clients include not only jewelry manufacturers but also new material companies, university laboratories, and solder companies.

In the future, Hasung will intensify its R&D investment in precious metal processing technology, intelligent automation, and precision control, continuously improving product performance and global service capabilities.

“Thirteen years ago, we moved into precious metals industry,” said Mr. Xiang, the founder of Hasung, “year after year we’ve kept pursuing technology development and been committed to driving technological innovation in the global precious metals industry through China’s smart manufacturing.”

About Hasung

Hasung is a national high-tech enterprise based in Shenzhen, specializing in the manufacturing of equipment for precious metals and new materials processing. Its main products include vacuum pressure casting machines, gold bar casting machines, silver bullion casting machines, jewelry casting machines, jewelry rolling mills, metal powder making machines, gold chain making machines, etc., which are sold to more than 80 countries and regions around the world.

Media Contact:

Shenzhen Hasung Precious Metals Equipment Technology Co., Ltd
No.11, Jinyuan 1st Road, Heao Community, Yuanshan Street, Longgang District, Shenzhen, China 518115
Email: sales@hasungmachinery.com
Tel: +86 17898439424
www.hasungmachinery.com

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SOURCE Shenzhen Hasung Precious Metals Equipment Technology Co., Ltd

Technology

LifeNet Health, NASA, and UNOS Complete First-of-Its-Kind Drone Kidney Transport Study to Help Save More Lives

Published

14 minutes ago

June 15, 2026

HAMPTON, Va., June 15, 2026 /PRNewswire/ — Teams from the United Network for Organ Sharing (UNOS), NASA Langley Research Center, and LifeNet Health successfully completed a groundbreaking study transporting human kidneys by drone beyond visual line of sight, marking a major milestone in the future of organ transportation and transplantation.

The June 5 flights highlight the potential for drone technology to support future innovations in organ transportation, with the goal of improving reliability, reducing transit times, and helping save more lives through transplantation.

During the study, the kidneys were biopsied and placed on preservation pumps before and after the flights to assess whether drone transportation affected organ integrity. Temperature, pressure, and altitude were monitored throughout the approximately 15-minute flights. Preliminary findings showed no evidence that the flights negatively affected the organs.

Organ transplantation is one of the most time-sensitive processes in healthcare. Once recovered, organs have only a limited window of viability, making efficient transportation critical to successful transplantation. Delays can impact organ function, patient outcomes, and whether a transplant can occur at all. Transportation innovation, including the exploration of drone technology, has the potential to expand access to transplantation for patients on the waitlist or reduce the time to transplant, improving patient outcomes.

“With more than 100,000 people currently waiting for a lifesaving transplant nationwide, innovation in organ transportation is essential,” said UNOS Interim CEO Mark Johnson. “This successful collaboration represents an important step toward making organ transportation safer, faster, and more efficient.”

According to national transplant data, another person is added to the U.S. transplant waiting list every eight minutes, while 13 people die each day waiting for an organ that never arrives. More than 3,000 people in Virginia alone are currently waiting for a lifesaving transplant.

The kidneys used in the study were donated for research by a donor family working with LifeNet Health after it was determined the organs would not be transplanted. Through these gifts, the organizations were able to evaluate how drone transportation may support future advances in transplantation logistics and organ preservation.

While transplantation saves lives today, donation for research helps save lives tomorrow. Organs and tissues that cannot be used for transplant can still help scientists improve preservation methods, develop new therapies, and explore future innovations in transplantation and patient care.

“Just as every patient waiting for a transplant matters, so does the timely transportation of the organs and tissues that can save and heal lives,” said Rony Thomas, President and CEO of LifeNet Health. “Advancing transportation and logistics innovation can make a meaningful difference in ensuring these lifesaving gifts reach patients when they are needed most.”

The study also highlights the broader impact of research donation. A single research donation can support multiple scientific studies and discoveries that may improve transplant outcomes and benefit patients for years to come. Many medical advances used in transplantation today were made possible through the generosity of donors and their families.

Donation for research occurs only with proper authorization and under strict ethical and regulatory standards. Families receive clear information about the process and can make informed decisions that honor their loved one’s wishes.

UNOS, NASA, and LifeNet Health continue exploring opportunities to further evaluate drone transportation in operational environments, including transporting research organs between hospitals and airports.

For updates and more information, follow:

NASA Langley Research Center LinkedIn
NASA Langley Research Center X
NASA Langley Research Center Instagram
NASA Langley Research Center Facebook
NASA Langley Research Center YouTube
UNOS Facebook
UNOS LinkedIn
UNOS Instagram
LifeNet Health LinkedIn
LifeNet Health Facebook
LifeNet Health Instagram

About UNOS
UNOS is a nonprofit organization with decades of experience in helping save lives through research, technology, innovation and education.

About LifeNet Health
As a global leader in regenerative medicine, LifeNet Health continues to push the boundaries to give healing every advantage. The organization offers groundbreaking transplantation and cellular solutions that support healthcare providers and powers scientific research. This forward-focused approach has improved life for millions of patients, all while honoring donor heroes and their families. For more information, visit: www.lifenethealth.org.

EX-3896.00

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SOURCE LifeNet Health