07:15 AM EDT, 10/01/2024 (MT Newswires) -- The Lion Electric LEV.TO) was at last look up 3.1% in US premarket trade as it announced Tuesday additional amendments to its senior revolving credit agreement with a syndicate of lenders, and its loan agreement with Finalta Capital and Caisse de depot et placement du Quebec.

The revolving credit agreement amendments extend the suspension of certain financial covenants from September 30, 2024, to November 15, 2024. Lion Electric ( LEV ) has agreed that any excess cash will be used to repay the revolving credit facility and the company is required to maintain at least C$15 million of available liquidity. Lion Electric ( LEV ) also remains subject to enhanced reporting obligations and limitations on the use of any advances made under the revolving credit facility. The maturity date of August 11, 2025 remains unchanged.

The company has also amended the loan agreement with Finalta Capital Fund and Caisse de depot et placement du Quebec, as lender, to extend the November 6, 2024 maturity date until November 30, 2024.

Lion Electric ( LEV ) said it continues to actively evaluate different opportunities that may help it to improve its liquidity and strengthen its financial position, including certain refinancing initiatives related to its debt instruments and the sale of some of its assets.

LEV edged up $0.01 to 0.92 on the TSX yesterday.