Taiga Motors secures C$40M in funding from Investissement Quebec and Northern Private Capital

On March 17, 2023, Taiga Motors Corporation ("Taiga") entered into definitive subscription agreements for a private placement of C$40.15 million aggregate principal amount of 10% secured convertible debentures due March 31, 2028. The entirety of the Private Placement was subscribed for by two institutional investors, Northern Private Capital and Investissement Québec having respectively subscribed for C$25.15 million and C$15 million of the Debentures.

IQ was established in 1998 to favour investment in Quebec by Quebec-based and international companies.

Taiga Motors Corporation is a Canada-based company engaged in developing and manufacturing of electric off-road vehicles.

McCarthy Tétrault advised IQ with a team led by Patrick Boucher that included Hadrien Montagne, Eve Tessier, Achille Treuil, Marjolaine Hémond Hotte, and Jessica Vona (Business),