Volcon (VLCN) Announces $2M Share Buyback

On March 7, 2025, Volcon ePowersports ("Volcon" or the "Company") (NASDAQ: VLCN), a provider of electric vehicles today announced that its Board of Directors has authorized a share repurchase program, allowing for the repurchase of up to $2 million of the Company's common stock through March 7, 2026.

"The Board's decision to authorize a share repurchase program of up to $2 million reflects our confidence in the Volcon's long-term vision as we have transitioned the Company to its new products, the HF1 and MN1 Tradesman UTVs and the MN1 Adventurer golf cart, and entered into golf cart distribution agreements", commented John Kim, CEO.

The Company has $19.1 million of unrestricted cash on hand as of March 7, 2025, and with the cash expected to be generated from operations during 2025, the Company expects to have sufficient funds to operate into 2026.

Under the authorization, Volcon may repurchase shares at its discretion from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and compliance with applicable legal requirements. Repurchases may be made through open market transactions or other methods as permitted by securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

The share repurchase program does not obligate Volcon to acquire any specific number of shares and may be modified, suspended, or discontinued at any time at the Company's discretion.

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