UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section
14(a) of the Securities Exchange Act of 1934
Filed by the Registrant
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Preliminary Proxy Statement
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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NORTHERN GENESIS ACQUISITION CORP.
(Name of Registrant as Specified In Its
Charter)
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For immediate release
Lion Electric
Secures its Largest Truck Order to Date with
100 Zero-Emission Trucks from Pride Group Enterprises
Kansas City, MO, March 25th, 2021 — Northern Genesis
Acquisition Corp. (NYSE: NGA) announces that its proposed business combination partner, The Lion Electric Company (Lion), a leading
manufacturer of all-electric medium and heavy-duty urban vehicles, today announced that the company has received a purchase order
from Pride Group Enterprises (Pride) for the acquisition of 100 all-electric Lion6 and Lion8 trucks. The order represents Lion’s
largest single order of zero-emission trucks to date.
Pride will be integrating the all-electric trucks into its existing
logistics, full maintenance, leasing, rental and equipment retail operations throughout the U.S. and Canada, as well as deploying
them with a selection of its fleet management clients. The majority of the trucks are expected to be delivered to Pride during
2021, with the remainder of deliveries expected to take place in 2022.
“Partnering with Lion on our zero-emission heavy-duty
trucking efforts gives Pride the unique advantage of deploying these vehicles on the road in the very short term, and significantly
contributes to our goal of 100% electric vehicles, while gaining valuable experience in zero-emission operations,” said Pride
Group Enterprises CEO, Sam Johal. “The ability to offer truly zero-emission freight to our customers is a huge step for our
business and environment. Along with the support from one of our long-tern financial partners Hitachi Capital, we are excited about
partnering with a Canadian EV OEM and promoting the Canadian brand, in the North American market.”
In addition to supplying the vehicles, Lion will also work to
support Pride in key aspects of fleet electrification, including the installation of adequate charging infrastructure as well as
integrating advanced telematics services into its operations – data which is critical to maximizing return on investment
(ROI) in electric fleets. The Lion6 and Lion8 trucks have ranges of 180 and 165 miles respectively, and will be used for regional
shipping operations.
All of Lion’s vehicles are purpose-built for electric
propulsion from the ground up, and are manufactured at Lion’s North American facility, which has a current capacity to produce
approximately 2,500 electric trucks per year. Over the last decade, Lion has established itself as a leader in the all-electric
heavy-duty vehicle industry, having delivered over 300 all-electric heavy-duty vehicles in North America with over 6 million miles
driven since 2016.
About Lion Electric
Lion Electric is an innovative manufacturer of zero-emission vehicles.
The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses
and minibuses for the school, paratransit and mass transit segments. Lion is a North American leader in electric transportation
and designs, builds and assembles all 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.
About Northern Genesis Acquisition Corp.
Northern Genesis Acquisition Corp. (NYSE: NGA) is a special
purpose acquisition company formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar
business combination with one or more businesses. The Northern Genesis management team brings a unique entrepreneurial owner-operator
mindset and a proven history of creating shareholder value across the sustainable power and energy value chain. Northern Genesis
is committed to helping the next great public company find its path to success; a path which will most certainly recognize the
growing sensitivity of customers, employees and investors to alignment with the principles underlying sustainability.
Transaction with Northern Genesis
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, Lion is expected to be listed
on the New York Stock Exchange (NYSE) under the new ticker symbol “LEV”.
Important Information and Where to Find It
In connection with the proposed business
combination, Lion Electric filed a registration statement on Form F-4 with the SEC that was declared effective on March 24, 2021
(the “Registration Statement”), which includes a proxy statement of Northern Genesis and a prospectus of Lion Electric.
The Registration Statement has been declared effective by the SEC and the definitive proxy statement/prospectus has been mailed
out to Northern Genesis’ stockholders. Investors and security holders of Northern Genesis and other interested parties are
urged to read the Registration Statement and the definitive proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”),
any amendments to the foregoing, and any other documents filed with the SEC, when available, because they will contain important
information about Lion Electric, Northern Genesis and the proposed business combination. Investors and security holders of Northern
Genesis may obtain free copies of the Joint Proxy Statement/Prospectus and other documents filed with the SEC by Northern Genesis
and Lion Electric through the website maintained by the SEC at www.sec.gov or by directing a request to: Northern Genesis Acquisition
Corp., 4801 Main Street, Suite 1000, Kansas City, MO 64112 or (816) 514-0324. The information contained on, or that may be accessed
through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press
release.
Participants in the Solicitation
Northern Genesis and its directors and executive officers and
other persons may be deemed to be participants in the solicitations of proxies from Northern Genesis’ stockholders in respect
of the proposed business combination. Lion Electric and its officers and directors may also be deemed participants in such solicitation.
Information regarding Northern Genesis’ directors and executive officers is available under the heading “Director and
Executive Officers” in its Annual Report on Form 10-K filed with the SEC on March 9, 2021 (the “IPO Prospectus”).
Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests,
by security holdings or otherwise, which may, in some cases, be different than those of their stockholders generally, are contained
in the Joint Proxy Statement/Prospectus and will be contained in other relevant materials to be filed with the SEC in connection
with the proposed business combination when they become available. Stockholders, potential investors and other interested persons
should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions. These documents can
be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. No offer of securities,
other than with respect to the concurrent private placement of Lion shares as described in the Registration Statement, shall be
made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Forward-Looking Statements
All statements other than statements of historical facts contained
in this press release constitute “forward-looking statements” (which shall include forward-looking information within
the meaning of Canadian securities laws) within the meaning of Section 27A of the Securities Act. Forward-looking statements may
generally 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 that predict or indicate future events or trends or that are not statements of
historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements
include, but are not limited to, statements regarding the transaction, including with respect to timing and closing thereof and
the ability to consummate the transaction. These statements are based on various assumptions, whether or not identified in this
press release, and on the current expectations of Lion Electric’s and Northern Genesis’ management and are not predictions
of actual performance. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict
and many of which are beyond the control of Lion Electric and Northern Genesis, and are based on a number of assumptions, as well
as other factors that Lion Electric and Northern Genesis believe are appropriate and reasonable in the circumstances, but there
can be no assurance that such estimates and assumptions will prove to be correct or that the Lion Electric’s vision, business,
objectives, plans and strategies will be achieved. Many risks and uncertainties could cause Lion Electric’s actual results,
performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking
statements, including those factors discussed in the Registration Statement and Joint Proxy Statement/Prospectus, as well as other
documents filed or to be filed by Lion Electric or Northern Genesis in accordance with applicable securities laws. These factors
are not intended to represent a complete list of the factors that could affect Northern Genesis or Lion Electric, and there may
be additional risks that neither Northern Genesis nor Lion Electric presently know or that Northern Genesis and Lion Electric currently
believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In
addition, forward-looking statements reflect Northern Genesis’ and Lion Electric’s expectations, plans or forecasts
of future events and views as of the date of this press release. Northern Genesis and Lion Electric anticipate that subsequent
events and developments will cause their respective assessments to change. However, while Northern Genesis and Lion Electric may
elect to update these forward-looking statements at some point in the future, Northern Genesis and Lion Electric have no intention
and undertake no obligation to do so except as required by applicable law. These forward-looking statements should not be relied
upon as representing Northern Genesis’ and Lion Electric’s assessments as of any date subsequent to the date of this
press release.
Northern Genesis Contact:
Investor Relations
Investors@northerngenesis.com
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