GreenPower Closes Third Tranche of Term Loan Offering
VANCOUVER, BC, June 8, 2025/ PRNewswire/– GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower” and the “Company”), a leading producer and supplier of all-electric, purpose-built, zero-emission medium and sturdy automobiles serving the freight and delivery market, transit and shuttle space and school bus sector, announces the closing of the third tranche of its previously revealed protected term loan offering for an aggregate principal amount of U.S. $300,000 (jointly the “Loans”). Please describe the Company’s press release dated Might 13, 2025 for more details regarding the term loan offering. In connection with the Loans, the Company participated in respective loan arrangements with business managed by the CEO and a Director of the Company (the “Lenders”). Management expects that the Business will allocate the net earnings from the Loans towards production costs, provider payments, payroll and working capital.The Loans are secured with a general security arrangement on the assets of the Business subordinated to all senior debt with other and monetary institutions and will bear interest of 12% per year starting on the date of closing (the “Closing Date”) to and including the date all of the Company’s indebtedness pursuant to the Loans is paid completely. The term of the Loans will be 2 years from the Closing Date.As a temptation for … Full story readily available on Benzinga.com
VANCOUVER, BC, June 8, 2025/ PRNewswire/– GreenPower Motor Company Inc. GP GPV (“GreenPower” and the “Company”), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and sturdy cars serving the cargo and shipment shuttle, transit and market space and school bus sector, announces the closing of the third tranche of its previously revealed secured term loan offering for an aggregate principal amount of U.S. $300,000 (jointly the” Loans “). Please refer to the Business’s news release dated Might 13, 2025 for more information regarding the term loan offering. In connection with the Loans, the Business participated in particular loan agreements with companies managed by the CEO and a Director of the Company (the” Lenders “). Management anticipates that the Business will assign the net profits from the Loans towards production expenses, provider payments, payroll and working capital. The Loans are secured with a basic security contract on the possessions of the Business subordinated to all senior debt with other and monetary organizations and will bear interest of 12% per year beginning on the date of closing (the” Closing Date “) to and consisting of the date all of the Company’s indebtedness pursuant to the Loans is paid completely. The term of the Loans will be two years from the Closing Date. As an inducement for the Loan, the Business issued 340,909 non-transferable share purchase warrants (each, a” Loan Benefit Warrant “) to one of the Lenders. Each Loan Benefit Warrant entitles the holder to buy one typical share of the Business (each, a” Share “) at an exercise rate of U.S. $0.44 per Share for a duration of twenty-four (24) months from the closing date of the Loan. In addition, one Lending institution will be provided an aggregate of 68,181 Shares (each a” Loan Benefit Share “). The Lenders are each thought about to be a “related party” within the significance of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Deals (” MI 61-101 “) and each of the Loans and issuance of Loan Bonus offer Warrants and Loan Bonus Shares, as relevant, is thought about to be a “related celebration transaction” within the meaning of MI 61-101 but each is exempt from the official assessment requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in area 5.5(a) and 5.7(a) as the reasonable market price, in each case, of the Loans, the Loan Benefit Warrants, and the Loan Perk Shares, as suitable, is not more than 25% of the Company’s market capitalization. All securities released in connection with the Loans will be subject to a statutory hold duration of four months plus a day from the closing of the Preliminary Loan in accordance with relevant securities legislation. For more details contact: Fraser Atkinson, CEO (604) 220-8048 Brendan Riley, President (510) 910-3377 Michael Sieffert, CFO (604) 563-4144 About GreenPower Motor Business Inc. GreenPower designs, develops and disperses a full suite of high-floor and low-floor all-electric medium and sturdy vehicles, consisting of transit buses, school buses, shuttles, cargo van and a taxi and chassis. GreenPower utilizes a clean-sheet design to produce all-electric cars that are purpose constructed to be battery powered with absolutely no emissions while incorporating global suppliers for crucial elements. This OEM platform permits GreenPower to meet the requirements of numerous operators while providing basic parts for ease of maintenance and ease of access for warranty requirements. GreenPower was founded in Vancouver, Canada with main operational facilities in southern California. Noted on the Toronto exchange considering that November 2015, GreenPower finished its U.S. IPO and NASDAQ listing in August 2020. For further info go to www.greenpowermotor.com Forward-Looking Statements This news release consists of particular “positive declarations” under applicable Canadian securities legislation that are not historic facts. Positive declarations are not based upon historic facts, however rather on current expectations and forecasts about future events, and are for that reason subject to threats and unpredictabilities which might cause real outcomes to vary materially from the future outcomes revealed or indicated by the positive declarations. These statements typically can be determined by the use of forward-looking words such as “upon”, “might”, “must”, “will”, “could”, “plan”, “price quote”, “plan”, “prepare for”, “expect”, “believe” or “continue”, or the unfavorable thereof or similar variations. Positive declarations in this news release include, however are not limited to, declarations with respect to the expectations of management regarding the use of profits of the Loan. The Company believes that and the expectations reflected in the positive information are affordable, there can be no assurance that such expectations will prove to be proper. Such positive declarations go through risks and uncertainties that might cause actual outcomes, performance or advancements to differ materially from those consisted of in the declarations including that the proceeds of the Loan may not be used as specified in this news release, and those extra dangers set out in the Business’s public files submitted on SEDAR+ at www.sedarplus.ca and with the United States Securities and Exchange Commission filed on EDGAR at www.sec.gov. The Company believes that the aspects and presumptions utilized in preparing the forward-looking statements are reasonable, excessive reliance ought to not be placed on these declarations, which just use as of the date of this news release, and no guarantee can be offered that such occasions will happen in the revealed time frames or at all. Except where required by law, the Business disclaims any intent or responsibility to upgrade or revise any forward-looking statement, whether as an outcome of brand-new info, future occasions, or otherwise. Neither the TSX Venture Exchange nor its Guideline Provider Company (as that term is defined in the policies of the TSX Endeavor Exchange) accepts duty for the adequacy or precision of this release. © 2025 GreenPower Motor Company Inc. All rights reserved. SOURCE GreenPower Motor Company Stock Rating Locked: Want to See it? Benzinga Rankings provide you vital metrics on any stock– anytime. © 2025 Benzinga.com. 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In connection with the Loans, the Company got in into particular loan agreements with business managed by the CEO and a Director of the Company (the” Lenders “). As a temptation for the Loan, the Company issued 340,909 non-transferable share purchase warrants (each, a” Loan Perk Warrant “) to one of the Lenders. Each Loan Reward Warrant entitles the holder to purchase one typical share of the Business (each, a” Share “) at an exercise rate of U.S. $0.44 per Share for a duration of twenty-four (24) months from the closing date of the Loan. The Lenders are each thought about to be a “related party” within the meaning of Multilateral Instrument 61-101 Defense of Minority Security Holders in Unique Deals (” MI 61-101 “) and each of the Loans and issuance of Loan Benefit Warrants and Loan Reward Shares, as applicable, is considered to be a “related celebration deal” within the significance of MI 61-101 but each is exempt from the official assessment requirement and minority approval requirements of MI 61-101 by virtue of the exemptions consisted of in area 5.5(a) and 5.7(a) as the reasonable market value, in each case, of the Loans, the Loan Benefit Warrants, and the Loan Benefit Shares, as relevant, is not more than 25% of the Company’s market capitalization. All securities provided in connection with the Loans will be subject to a statutory hold period of four months plus a day from the closing of the Initial Loan in accordance with relevant securities legislation.
