MONTREAL, May 15, 2025 /CNW/ – The Lion Electric Company (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that following the conclusion of the sale and investment solicitation process (“SISP”) conducted under the supervision of the Superior Court of Québec (Commercial Division) (the “Court”) and Deloitte Restructuring Inc., as Court-appointed monitor of the Company and its subsidiaries, in connection with the restructuring proceedings (the “CCAA Proceedings”) of the Company and its subsidiaries instituted on December 18, 2024, under the Companies’ Creditors Arrangement Act (Canada), the Company entered into a subscription agreement (the “Definitive Agreement”) with 9539-5034 Québec Inc. (the “Purchaser”), a corporation newly incorporated for the sole purpose of completing the transactions contemplated by the Definitive Agreement on behalf of a consortium comprised of Quebec based investors. The execution of the Definitive Agreement is the culmination of the Company’s aforementioned SISP in the context of the CCAA Proceedings.

The transactions contemplated by the Definitive Agreement are to be implemented by way of reverse vesting order (the “Reverse Vesting Order”) to be issued by the Court. The Reverse Vesting Order shall approve the Definitive Agreement and the transactions contemplated thereby, including the following: (i) all of the issued and outstanding common shares of the Company, including those currently held by the public, as well as any and all options, warrants and other instruments exercisable into, or convertible or exchangeable for, common shares of the Company, will ultimately be cancelled for no consideration, (ii) certain excluded assets and excluded liabilities of the Company and its subsidiaries will be vested-out and transferred to entities newly-incorporated for such purposes, and (iii) the Purchaser will subscribe 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 will be the sole shareholder of the Company.

The Company has applied to the Court for the issuance of the Reverse Vesting Order and expects the Reverse Vesting Order to be granted on May 16, 2025, with the closing of the transactions to occur shortly thereafter, subject to fulfillment or waiver, as applicable, of other closing conditions customary for transactions of this nature.

The Company has also applied to the Autorité des marchés financiers in order to obtain a decision partially revoking the failure-to-file cease-trade order (“FFCTO”) currently in effect over the securities of the Company solely for the purposes of allowing the Company and the Purchaser to complete the transactions contemplated by the Definitive Agreement.

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

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 contemplated by the Definitive Agreement would constitute 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 insolvent 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 to be granted by the Court under the Reverse Vesting Order, the Company intends to rely 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 transactions contemplated by the Definitive Agreement and the expected closing of such transactions, the issuance of the Reverse Vesting Order by the Court, the issuance of an order partially revoking the FFCTO over the securities of the Corporation, and the expectations that the Company cease to be a reporting issuer 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.

Tianma, a leading global manufacturer of flat panel displays, is exhibiting its family of LCD technologies and solutions at Display Week 2025, Booth #416, San Jose, California, May 13-15.

SAN JOSE, Calif., May 15, 2025 /PRNewswire-PRWeb/ — Tianma, a leading global manufacturer of flat panel displays, is exhibiting its family of LCD technologies and solutions at Display Week 2025, Booth #416, San Jose, California, May 13-15.

Tianma’s LCD innovations at Display Week 2025 include:

16″ WQXGA 480Hz Oxide – Tianma is launching the world’s first 16″ 480Hz Oxide gaming panel, establishing a new industry benchmark for high refresh rate. This panel, featuring advanced Oxide technology, demonstrates a significant improvement in refresh rate when compared to most mainstream “e-sports” gaming displays on the market. With a 3ms GTG response time, motion blur is effectively eliminated, ensuring instantaneous reactions. In addition, the panel offers a stunning 2560×1600 WQXGA resolution, 500nit brightness, a 1200:1 contrast ratio, and 100% DCI-P3 color gamut, making it the ultimate choice for high-performance gaming notebooks.

16″ WQXGA 1~360Hz – Tianma is introducing the world’s first 16″ 1~360Hz wide refresh rate (WRR) oxide gaming panel. The WRR range of this panel exceeds that of current products (1~240Hz). Featuring advanced Oxide technology, it supports an intelligent 1Hz to 360Hz dynamically adjustable refresh rate, with a 2560×1600 WQXGA resolution, 500nit brightness, 1200:1 contrast ratio, and 100% DCI – P3 color gamut. Combined with a fast, 3ms GTG response time, it achieves both a 360Hz high refresh rate for a premium gaming experience and 1Hz ultra-low refresh rate for significantly reduced power consumption, representing a dual breakthrough in performance and energy efficiency for high-end gaming notebooks.

Pixel Multiplex Display – Tianma is presenting the industry’s first resolution-doubling liquid crystal display based on an optical pixel-shifting technique applicable to conventional display panels. This technology is capable of pixel displacement of over 20-microns using a proprietary liquid crystal optical shifting technique. As a result, a conventional 800PPI panel can achieve a 1600PPI equivalent resolution via this doubling effect. This technology will first be used in projection displays, followed by direct-view display panels in the future.

More information about the innovative new display solutions being displayed by Tianma is available at Booth 416 at Display Week and in the Tianma press kits, accessible online at usa.tianma.com/press

Additional information can be found at usa.tianma.com.

About Tianma America, Inc.

Tianma America (TMA) is the leading provider of small- to medium-size display solutions to the Americas market utilizing advanced technologies and manufacturing resources of the Tianma Group Companies, which includes R&D and manufacturing locations in Chengdu, Wuhan, Xiamen, Wuhu, Shenzhen and Shanghai China. Tianma America technologies can be found in automotive cockpit and rear seat entertainment devices, smartphones, tablet PCs, industrial and medical instrumentation, wearables, home automation, household appliances, and office equipment. Additional applications include test and measurement systems, instrumentation equipment, point-of-sale and ATM systems, gaming systems, global positioning systems, radio-frequency identification devices and barcode scanners.

Tianma America’s technology portfolio comprises: Micro-LED; a-Si, LTPS and Oxide-TFT LCD; rigid, flexible and transparent AM-OLED; 3D, PCAP and In-cell/On-cell integrated touch. With a network of best-in-class distributors and value-added partners, Tianma America provides complete display module solutions for a broad base of customers and applications. For more information, visit us at usa.tianma.com or connect with us on LinkedIn.

The content in this press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.

Media Contact

Dale Maunu, Tianma America, Inc., 1 (408) 816-7003, dale.maunu@tianma.com, usa.tianma.com

Bill Maurer, Macrovision, Inc., 1 215-348-1010, bill@macrovis.com, www.macrovis.com

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SOURCE Tianma America, Inc.

TAIPEI, May 16, 2025 /PRNewswire/ — Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion”), a global leader in designing and marketing NAND flash controllers for solid-state storage devices, today announced that it will showcase its broad portfolio of products including two new SSD controllers at COMPUTEX 2025. The first is the SM2504XT, an ultra-low power PCIe Gen5 DRAM-less controller offering industry-leading performance per watt. The second is the SM2324, the world’s first true single-chip portable SSD controller supporting USB4 with built-in Power Delivery. Together, these innovations highlight Silicon Motion’s leadership in enabling energy-efficient, high-performance SSD solutions for AI PCs, gaming systems, and portable devices.

SM2504XT Delivers High Performance and Low Power for AI-Driven Client SSDs

Built on TSMC’s 6nm process, the SM2504XT delivers up to 11.5 GB/s sequential read and 11.0 GB/s write speeds, with random IOPS reaching up to 1.7M read and 2.0M write—all while consuming under 5W. Compared to the previous generation, it achieves an 11% gain on performance per watt and sets a new standard for power efficiency among PCIe Gen5 client SSD controllers.

Supporting PCIe Gen5 x4 and NVMe 2.0, the controller is ideal for DRAM-less SSDs in AI PCs, notebooks, and gaming systems. It also incorporates Separate Command Address (SCA) architecture for reduced latency, and supports the latest 3D TLC and QLC NAND—meeting the growing demand for cost-effective, high-performance, and energy-efficient SSD solutions.

SM2324 Delivers Integrated Simplicity for Next-Gen Portable SSDs

The SM2324 is the industry’s first single-chip portable SSD controller combining native USB4 support with built-in Power Delivery controller. Delivering sequential read/write speeds of up to 4,000MB/s, optimized for 3D TLC and QLC NAND, the SM2324 supports storage capacities of up to 32TB. Its single-chip architecture reduces BOM cost and simplifies design, accelerating time-to-market for OEMs building compact, high-speed portable drives.

“At Silicon Motion, we’re focused on delivering SSD controller solutions that lead in both performance and power efficiency,” said Nelson Duann, Senior VP of Client & Automotive Storage Business at Silicon Motion. “With the SM2504XT, we’re setting a new benchmark for PCIe Gen5 client SSDs with unmatched performance per watt, while the SM2324 redefines portable storage with a fully integrated single-chip USB4 solution. These technologies reflect our commitment to helping customers build faster, smaller, and more efficient SSDs for next-generation applications.”

In addition to its latest client and portable SSD controllers, Silicon Motion will also showcase a broad portfolio of controller solutions at COMPUTEX 2025 targeting markets including automotive, AI smart phones, Datacenter/enterprise SSDs, and high-performance display interfaces. These offerings support a wide range of AI-driven applications, from intelligent vehicles and edge devices to cloud infrastructure and immersive user experiences. Visit us at Suite G0001 on 3F, Taipei Nangang Exhibition Center Hall 1.

About Silicon Motion:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world—for servers, PCs and other client devices—and are the merchant market leader in controllers for eMMC/UFS mobile embedded storage used in smartphones, IoT and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at www.siliconmotion.com.

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SOURCE Silicon Motion Technology Corporation