<SEC-DOCUMENT>0001104659-26-084608.txt : 20260717
<SEC-HEADER>0001104659-26-084608.hdr.sgml : 20260717
<ACCEPTANCE-DATETIME>20260717160116
ACCESSION NUMBER:		0001104659-26-084608
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20260717
FILED AS OF DATE:		20260717
DATE AS OF CHANGE:		20260717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vision Marine Technologies Inc.
		CENTRAL INDEX KEY:			0001813783
		STANDARD INDUSTRIAL CLASSIFICATION:	SHIP & BOAT BUILDING & REPAIRING [3730]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			A8

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39730
		FILM NUMBER:		261183673

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		730 BOULEVARD DU CURE-BOIVIN
		CITY:			BOISBRIAND
		NON US STATE TERRITORY:  	QUEBEC
		PROVINCE COUNTRY:   	Z4
		ZIP:			J7G 2A7
		BUSINESS PHONE:		3476150188

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		730 BOULEVARD DU CURE-BOIVIN
		CITY:			BOISBRIAND
		NON US STATE TERRITORY:  	QUEBEC
		PROVINCE COUNTRY:   	Z4
		ZIP:			J7G 2A7
</SEC-HEADER>
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<TYPE>6-K
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<FILENAME>tm2620735d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of July&nbsp;2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File No.&nbsp;001-39730</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>VISION MARINE TECHNOLOGIES INC.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>730 Boulevard du Cur&eacute;-Boivin</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Boisbriand, Qu&eacute;bec, J7G 2A7, Canada</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F
<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1) <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant is submitting
the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7) <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information contained in this Report on
Form&nbsp;6-K (this &ldquo;Form&nbsp;6-K&rdquo;) is hereby incorporated by reference into our Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1813783/000110465925005478/tm254049d2_f3.htm" STYLE="-sec-extract: exhibit">Form&nbsp;F-3
(File No.&nbsp;333-284423)</A>, Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1813783/000110465925118177/tm2532648d1_f3.htm" STYLE="-sec-extract: exhibit">Form&nbsp;F-3
(File No.&nbsp;333-291917)</A> and Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1813783/000110465922041825/tm2211173d1_s8.htm" STYLE="-sec-extract: exhibit">Form&nbsp;S-8 (File No.&nbsp;333-264089)</A>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">On July
13, 2026, Vision Marine Technologies Inc. (the &quot;Company&quot;) issued a press release reporting its unaudited financial results for
the three-month and nine-month periods ended May 31, 2026.&nbsp;A copy of the press release is furnished as Exhibit 99.1 to this Report
on Form 6-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">On July
14, 2026, the Company issued a press release announcing the completion of its previously announced at-the-market equity offering program
pursuant to the Sales Agreement, dated January 23, 2026, with ThinkEquity LLC, as sales agent.&nbsp;&nbsp;Pursuant to the completed program,
the Company sold an aggregate of 6,380,235 common shares for aggregate gross proceeds of $16,334,922 and net proceeds of $15,552,243,
after deducting sales commissions and other offering expenses of $782,679. The share amount set forth above gives effect to the Company&rsquo;s
most recent share consolidation that became effective on June 17, 2026.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">The at-the-market
offering program is complete, and no additional common shares will be issued or sold under the prospectus supplement relating to the completed
program</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">Copies of
the Company&rsquo;s press releases dated July 13, 2026, and July 14, 2026, are furnished as Exhibits 99.1 and 99.2, respectively, to this
Report on Form 6-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD><B>Exhibit<BR>
No.</B></TD><TD STYLE="text-align: justify"><B>Index</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><A HREF="tm2620735d1_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1</A></TD><TD STYLE="text-align: justify"><A HREF="tm2620735d1_ex99-1.htm" STYLE="-sec-extract: exhibit">Press Release issued by Vision Marine Technologies Inc. on July 13, 2026, entitled &ldquo;Vision Marine
Technologies Delivers 27% Sequential Q3 Revenue Growth&rdquo;</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><A HREF="tm2620735d1_ex99-2.htm" STYLE="-sec-extract: exhibit">99.2</A></TD><TD STYLE="text-align: justify"><A HREF="tm2620735d1_ex99-2.htm" STYLE="-sec-extract: exhibit">Press Release issued by Vision Marine Technologies Inc. on July 14, 2026, entitled &ldquo;Vision Marine
Technologies Completes US$16.3 Million At-the-Market Equity Offering Program&rdquo;</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>VISION MARINE TECHNOLOGIES INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: July&nbsp;17, 2026</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>/s/ Raffi Sossoyan</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Raffi Sossoyan</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TYPE>EX-99.1
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<FILENAME>tm2620735d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2620735d1_ex99-1img01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Vision Marine Technologies Delivers 27% Sequential
Q3 Revenue Growth</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>First nine months of
fiscal 2026 generated $48.6 million in revenue, $11.8 million in gross profit at a 24.3% margin and $2.4 million in cash from operating
activities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Boisbriand, Qu&eacute;bec
and Fort Lauderdale, Florida, July 13, 2026</B> &ndash; Vision Marine Technologies Inc. (NASDAQ: VMAR; TSXV: VMAR) (&ldquo;Vision Marine&rdquo;
or the &ldquo;Company&rdquo;), a marine technology and recreational boating company combining proprietary high-voltage electric propulsion
technology with a retail, marina and service platform, today reported its unaudited financial results for the three-month and nine-month
periods ended May 31, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">All amounts are expressed
in U.S. dollars unless otherwise indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Key Takeaways</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Sequential revenue growth.</B>
Third-quarter revenue increased approximately 27% to $18.4 million, compared with $14.5 million in the second quarter of fiscal 2026.
Because Nautical Ventures Group Inc. (&ldquo;NVG&rdquo;) was included in both periods, management believes the quarter-over-quarter comparison
provides a more comparable view of the Company&rsquo;s financial and commercial trajectory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Gross profit and margin
generation.</B> For the first nine months of fiscal 2026, Vision Marine generated gross profit of $11.8 million, representing a gross
margin of 24.3%, compared with a gross loss in the prior-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Positive operating cash
flow.</B> Cash provided by operating activities totaled $2.4 million for the first nine months of fiscal 2026, supported by disciplined
working capital management and inventory reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Improved capital efficiency.</B>
Inventory declined approximately 44% from August 31, 2025, to $20.7 million, while floorplan financing declined approximately 69% from
fiscal year-end to $10.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Alexandre Mongeon, Chief Executive
Officer of Vision Marine, commented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: left">&ldquo;The third quarter reflects the progress
we have been working toward across revenue generation, working capital management and capital efficiency. Our expanded operating platform
is beginning to demonstrate how stronger commercial execution and disciplined capital management can reinforce one another.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: left">&ldquo;We are building an integrated marine
platform that connects our E-Motion&trade; technology with direct customer access, marina infrastructure, certified service and aftersales
support. We remain committed to disciplined capital allocation, continued operational execution and building long-term shareholder value
while advancing toward sustainable profitability.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Revenue Growth and Gross
Profit</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Revenue for the first nine
months of fiscal 2026 increased to $48.6 million, compared with $0.4 million during the same period of the prior year, primarily reflecting
the contribution from the acquisition of NVG.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Third-quarter revenue was
$18.4 million, an increase of approximately 27% from $14.5 million in the second quarter of fiscal 2026 in the third quarter of fiscal
2025. The year-over-year increase primarily reflects the inclusion of NVG following its acquisition in June 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Gross profit for the first
nine months of fiscal 2026 was $11.8 million, representing a gross margin of 24.3%, compared with a gross loss in the prior-year period.
Gross margin is calculated as gross profit divided by revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Gross profit during the period
was affected by the strategic sale of two legacy luxury yachts exceeding 65 feet that had been acquired as part of the NVG transaction.
The vessels generated aggregate revenue of approximately $4.1 million and an aggregate gross loss of approximately $55,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Management completed these
sales to reduce floorplan financing and carrying costs while aligning inventory with the Company&rsquo;s commercial focus on boats under
45 feet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Operating Cash Flow and
Capital Efficiency</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Cash provided by operating
activities totaled $2.4 million for the first nine months of fiscal 2026. This result was supported by disciplined working capital management,
including the reduction and monetization of inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Inventory declined from approximately
$36.9 million on August 31, 2025, to $20.7 million on May 31, 2026, a reduction of approximately 44%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Floorplan financing declined
from approximately $32.5 million at fiscal year-end to $10.2 million on May 31, 2026, a reduction of approximately 69%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Raffi Sossoyan, Chief Financial
Officer of Vision Marine, commented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: left">&ldquo;The third quarter reflects progress across
several of our financial priorities. Sequential revenue growth and positive cash flow from operating activities demonstrate continued
progress in commercial execution and working capital management. Our reductions in inventory and floorplan financing also reflect a disciplined
approach to working capital and capital allocation. We remain focused on liquidity and the financial flexibility required to support
our strategic priorities.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Financial Performance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine reported a net
loss of $11.9 million for the first nine months of fiscal 2026. The result included depreciation and amortization associated with acquired
assets, financing costs related to the Company&rsquo;s expanded operations and the impairment of deposits with a former battery supplier
that entered liquidation proceedings during the period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The net loss also reflects
the continued integration and development of the Company&rsquo;s expanded marine platform. These factors were partially offset by gross
profit generated during the period and improvements in working capital management that contributed to positive operating cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Integrated Marine Technology
Platform</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine&rsquo;s operating
model combines its proprietary E-Motion&trade; high-voltage electric propulsion technology with the customer access, marina infrastructure,
service capabilities, parts support and delivery platform provided through NVG.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Company continued advancing
the commercialization of E-Motion&trade; during the quarter, including the ongoing qualification of a U.S.-based battery supplier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine is also expanding
recurring and repeat-revenue activities across marina operations, service, storage, rentals, boat club memberships and aftersales support.
Management believes these activities can increase customer engagement throughout the boating lifecycle and support a more diversified
business model beyond individual boat sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The acquisition and integration
of Liquid Retailers, LLC, operating as Liquid Surf &amp; Sail, further expanded the Company&rsquo;s watersports capabilities and customer
offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Liquidity and Continuing
Execution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Management remains focused
on improving liquidity through operating cash flow generation, inventory monetization, disciplined working capital management, financing
initiatives and the optimization and potential monetization of non-core real estate assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine continues to
report losses and expects to require additional capital to support its operations and strategic initiatives. The availability and terms
of financing, the timing and proceeds of potential real estate transactions and the Company&rsquo;s ability to continue improving liquidity
remain subject to market conditions, execution risk and other factors described in the Company&rsquo;s public filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Financial Statements and
Management&rsquo;s Discussion and Analysis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine&rsquo;s unaudited
interim condensed consolidated financial statements and Management&rsquo;s Discussion and Analysis for the three-month and nine-month
periods ended May 31, 2026, have been filed on SEDAR+ and furnished to the U.S. Securities and Exchange Commission on Form 6-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Investors are encouraged to
review these documents in their entirety for additional information regarding the Company&rsquo;s financial results, liquidity, capital
requirements and risk factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>About Vision Marine Technologies
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine Technologies
Inc. is a marine technology and recreational boating company focused on delivering an enhanced on-water experience across propulsion
types. The Company develops proprietary high-voltage electric propulsion technology through its E-Motion&trade; platform and supports
its commercialization through a retail, marina, service and delivery platform. Vision Marine&rsquo;s integrated operating model combines
technology development, consumer access, service infrastructure and multi-brand boating operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Certain statements in this
news release constitute &ldquo;forward-looking statements&rdquo; within the meaning of applicable Canadian and U.S. securities laws.
Forward-looking statements include, but are not limited to, statements concerning the Company&rsquo;s strategy; future financial and
operating performance; revenue momentum and growth; liquidity improvement initiatives; operating cash flow generation; inventory monetization;
disciplined working capital management; financing initiatives; real estate optimization and monetization; disciplined capital allocation;
the pursuit of sustainable profitability and long-term shareholder value; the integration and optimization of acquired businesses; the
expansion of recurring and repeat-revenue activities; the qualification of a U.S.-based battery supplier; and the development and commercialization
of the Company&rsquo;s E-Motion&trade; electric propulsion platform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Forward-looking statements
are based on management&rsquo;s current expectations, estimates, assumptions and projections and involve known and unknown risks and
uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks include,
among others, the Company&rsquo;s ability to continue as a going concern; its history of losses and current liquidity position; its ability
to obtain additional financing on acceptable terms or at all; its ability to comply with applicable Nasdaq and TSX Venture Exchange continued
listing requirements; the timing, completion and proceeds of potential real estate transactions; its ability to successfully integrate
and operate acquired businesses; changes in consumer demand; economic conditions affecting the recreational boating industry; inflation
and interest rates; supplier performance and availability; the qualification of alternative battery suppliers; supply chain disruptions;
tariffs and trade policies; competition; and the successful development and commercialization of the Company&rsquo;s technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Additional risks and uncertainties
are described in the Company&rsquo;s filings with Canadian securities regulators on SEDAR+ and with the U.S. Securities and Exchange
Commission on EDGAR. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable
law, Vision Marine undertakes no obligation to update or revise any forward-looking statements as a result of new information, future
events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Neither the TSX Venture Exchange
nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for
the adequacy or accuracy of this release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Investor and Company Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Bruce Nurse<BR>
</B> Investor Relations<BR>
(309) 919-2913<BR>
bn@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Alexandre Mongeon<BR>
</B> Chief Executive Officer<BR>
(450) 951-7009<BR>
am@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Raffi Sossoyan<BR>
</B> Chief Financial Officer<BR>
(450) 951-7009<BR>
rs@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2620735d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2620735d1_ex99-2img01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Vision Marine Technologies Completes US$16.3
Million At-the-Market Equity Offering Program</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Following ATM completion,
Vision Marine reports approximately US$9.5 million in unrestricted consolidated cash; pending real estate transactions, if completed,
are expected to generate approximately US$5.58 million in estimated net equity proceeds.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>BOISBRIAND, Qu&eacute;bec,
and FORT LAUDERDALE, Florida, July 14, 2026</B> &ndash; Vision Marine Technologies Inc. (<B>NASDAQ: VMAR; TSXV: VMAR</B>) (&ldquo;Vision
Marine&rdquo; or the &ldquo;Company&rdquo;), a marine technology and recreational boating company combining proprietary high-voltage
electric propulsion technology with a retail, marina and service platform, today announced the successful completion of its at-the-market
(&ldquo;ATM&rdquo;) equity offering program, originally announced on January 23, 2026, pursuant to which the Company raised approximately
US$16.3 million in aggregate gross proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The ATM program is complete,
and no additional common shares will be issued under the completed program. Following completion of the ATM program and final settlement,
the Company has 6,530,460 common shares outstanding and approximately US$9.5 million of unrestricted consolidated cash. This unrestricted
cash balance reflects cash available to the Company following completion of the ATM program and excludes restricted cash balances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In addition, Vision Marine
expects to receive further cash from its previously announced pending Florida real estate transactions. If completed as currently contemplated,
the transactions are expected to generate approximately US$13.1 million in aggregate gross sale proceeds and approximately US$5.58 million
in estimated net equity proceeds to the Company before customary closing adjustments, taxes and transaction costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Management believes the enhanced
liquidity resulting from the completed ATM positions Vision Marine to continue executing its operational priorities, including inventory
optimization, marina operations, electric boat product development, disciplined working capital management and strategic growth initiatives.
The expected net equity proceeds from the pending real estate transactions would provide further financial flexibility without the issuance
of additional equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&ldquo;Completing the ATM
program, together with the expected non-dilutive capital from our pending real estate transactions, strengthens the foundation from which
we can continue executing our strategy,&rdquo; said Alexandre Mongeon, Chief Executive Officer and Co-Founder of Vision Marine. &ldquo;Building
on the operational progress achieved over the past year, we remain firmly focused on advancing E-Motion&trade; commercialization, expanding
our electric boat portfolio, optimizing our retail, marina and service platform and building a more scalable foundation for the future
of boating and long-term shareholder value.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Raffi Sossoyan, Chief Financial
Officer of Vision Marine, added: &ldquo;The completion of the ATM program represents an important milestone in strengthening Vision Marine&rsquo;s
financial position. With approximately US$9.5 million of unrestricted consolidated cash and 6,530,460 common shares outstanding, we believe
the Company is well positioned to execute its operational priorities while maintaining the financial flexibility to support future growth
initiatives. This stronger liquidity position builds upon the positive operating cash flow generated during the first nine months of
fiscal 2026 and supports our continued focus on disciplined capital allocation, working capital management and balance sheet optimization.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">ThinkEquity acted as the sole
sales agent for the ATM program. Under the program, the Company issued 6,380,235 common shares for gross proceeds of US$16,334,922 less
transactions costs of US$782,679.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The pending real estate transactions
remain subject to customary closing conditions. There can be no assurance that the transactions will close on the anticipated terms or
timing or that the estimated gross proceeds or net equity proceeds will be realized as currently anticipated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>About Vision Marine Technologies
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Vision Marine Technologies
Inc. (NASDAQ: VMAR; TSXV: VMAR) is a marine technology and recreational boating company focused on delivering an enhanced on-water experience
across propulsion types.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Company develops proprietary
high-voltage electric propulsion technology through its E-Motion&trade; platform and supports its commercialization through a retail,
marina, service and delivery platform. Vision Marine&rsquo;s integrated operating model combines technology development, consumer access,
service infrastructure and multi-brand boating operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Certain statements contained
in this news release constitute &ldquo;forward-looking statements&rdquo; within the meaning of applicable Canadian and U.S. securities
laws. Forward-looking statements include, but are not limited to, statements regarding the Company&rsquo;s strategy; future financial
condition and operating performance; liquidity; working capital; the expected benefits of the completed ATM program; the anticipated
receipt, timing and amount of proceeds from the pending real estate transactions; inventory optimization; marina operations; electric
boat product development and expansion; capital allocation; future growth initiatives; commercialization of the Company&rsquo;s E-Motion&trade;
electric propulsion technology; and the Company&rsquo;s pursuit of long-term shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Forward-looking statements
are based on management&rsquo;s current expectations, estimates, assumptions and projections and involve known and unknown risks, uncertainties
and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements.
These risks include, among others, the Company&rsquo;s ability to continue as a going concern; its history of operating losses; its ability
to generate positive cash flow; its ability to obtain additional financing if required; compliance with applicable Nasdaq and TSX Venture
Exchange continued listing requirements; the timing, completion and proceeds of the pending real estate transactions; successful integration
and operation of acquired businesses; changes in consumer demand; macroeconomic conditions affecting the recreational boating industry;
inflation; interest rates; supplier performance and availability; supply-chain disruptions; tariffs and international trade policies;
competition; and the successful development and commercialization of the Company&rsquo;s proprietary technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Additional information regarding
these and other risks and uncertainties is contained in the Company&rsquo;s filings with the U.S. Securities and Exchange Commission,
available on EDGAR, and with Canadian securities regulatory authorities, available on SEDAR+.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Readers are cautioned not
to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable law, Vision
Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Neither the TSX Venture Exchange
nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for
the adequacy or accuracy of this release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Investor and Company Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Alexandre Mongeon<BR>
</B> Chief Executive Officer<BR>
Vision Marine Technologies Inc.<BR>
(450) 951-7009<BR>
am@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Raffi Sossoyan<BR>
</B> Chief Financial Officer<BR>
Vision Marine Technologies Inc.<BR>
(450) 951-7009<BR>
rs@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Bruce Nurse<BR>
</B> Investor Relations<BR>
Vision Marine Technologies Inc.<BR>
(303) 919-2913<BR>
bn@v-mti.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
