OPERATIONAL OPTIMIZATION / REAL ESTATE UPDATE
The transition, completed in May 2026, centralized tender preparation, rigging, logistics and delivery at Nautical Ventures' waterfront marina operating hub in Fort Lauderdale.
FORT LAUDERDALE, Fla. and BOISBRIAND, QC, July 7, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR) (TSXV: VMAR) ("Vision Marine" or the "Company"), a marine technology and recreational boating company combining proprietary propulsion technology with direct consumer access through its Nautical Ventures retail, service and marina platform, today announced the completion of the relocation of tender-rigging operations from Palm City to Nautical Ventures' Fort Lauderdale Marina and the pending sale of the Palm City, Florida property.
The relocation of tender-rigging operations to Nautical Ventures' Fort Lauderdale Marina was completed in May 2026. Since the transition, the Company has reduced operating costs, improved operational efficiency and streamlined tender preparation and delivery by bringing service, rigging, logistics and delivery activities together within one waterfront operating facility.
The tender category is an established component of Nautical Ventures' broader boating platform. From 2022 through 2024, Nautical Ventures sold over 600 tenders through its Florida dealership network, generating more than US$14 million in tender-related revenue. Centralizing tender preparation, rigging, logistics and delivery at Fort Lauderdale Marina aligns this business category with the Company's waterfront service, parts and delivery infrastructure.
With the operational transition complete, the Palm City property, which had operated primarily as a dedicated tender-rigging facility, is no longer required for that purpose. The pending disposition is intended to simplify Vision Marine's Florida real-estate footprint.
"The successful integration of our Palm City operations into Fort Lauderdale reflects the progress we have made over the past several months," said Alexandre Mongeon, Chief Executive Officer of Vision Marine. "We have reduced operating costs, improved execution and created a more efficient platform that better supports our customers. This is another important step toward building an integrated marina operation designed to support our long-term growth strategy."
The completed consolidation and pending Palm City disposition form part of Vision Marine's ongoing operational optimization initiative, focused on concentrating resources within facilities that support its retail, service, marina, parts and delivery capabilities.
The pending Palm City transaction remains subject to customary closing conditions. There can be no assurance that the transaction will close on the anticipated terms or at all. Vision Marine may provide further updates regarding the closing of the transaction, as appropriate.
About Vision Marine Technologies Inc.
Vision Marine is a marine technology and recreational boating company focused on delivering a better on-water experience across propulsion types. The Company develops proprietary high-voltage electric propulsion technology through its E-Motion platform and supports commercialization through its Nautical Ventures retail, service and marina network. Vision Marine's vertically integrated operating model combines technology, consumer access, service infrastructure and multi-brand boating operations.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable Canadian securities laws and the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the pending sale of the Palm City property; the anticipated timing, terms and completion of the transaction; the anticipated benefits associated with the completed tender-rigging consolidation; the Company's real estate and operational optimization initiatives; and the Company's long-term growth strategy.
Forward-looking statements are based on management's current expectations, estimates and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others, the failure to satisfy closing conditions; changes in transaction terms; delays in closing; costs or disruptions associated with the operational transition; differences between anticipated and actual operational benefits; customer demand; market and economic conditions; financing and liquidity considerations; and other risks described in the Company's public filings with the U.S. Securities and Exchange Commission and on SEDAR+. Readers should not place undue reliance on forward-looking statements. Vision Marine undertakes no obligation to update or revise forward-looking statements except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Vision Marine Technologies, Inc
