Mullen Group Ltd. Announces Pricing of Private Placement Notes Offering

OKOTOKS, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- (TSX: MTL) Mullen Group Ltd. ("Mullen Group", "We", "Our" and/or the "Corporation") today announced that it has priced an approximately CAD$400.0 million aggregate principal amount senior secured notes offering (the "Notes Offering"), by way of a private placement. The senior secured notes (the "Notes") will be guaranteed by Mullen Group's subsidiaries, MT Investments Inc. and MGL Holding Co. Ltd. (each, a "Guarantor") and secured by a first ranking charge over all present and after-acquired property of the Corporation and each Guarantor. The Notes will rank pari passu with Mullen Group’s outstanding senior secured notes maturing July 2034 and its amended and restated bank credit facilities (see the Corporation’s press release dated July 10, 2024).