GreenPower Closes Third Tranche of Term Loan Offering
VANCOUVER, BC, June 8, 2025 /CNW/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the closing of the third tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $300,000 (collectively the " Loans"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering.
In connection with the Loans, the Company entered into respective loan agreements with companies controlled by the CEO and a Director of the Company (the " Lenders"). Management anticipates that the Company will allocate the net proceeds from the Loans towards production costs, supplier payments, payroll and working capital.
The Loans are secured with a general security agreement on the assets of the Company subordinated to all senior debt with financial and other institutions and will bear interest of 12% per annum commencing 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 in full. The term of the Loans will be two years from the Closing Date.
As an inducement for the Loan, the Company issued 340,909 non-transferable share purchase warrants (each, a " Loan Bonus Warrant") to one of the Lenders. Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company (each, a " Share") at an exercise price of U.S. $0.44 per Share for a period of twenty-four (24) months from the closing date of the Loan. In addition, one Lender will be issued an aggregate of 68,181 Shares (each a " Loan Bonus Share").
The Lenders are each considered to be a "related party" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101") and each of the Loans and issuance of Loan Bonus Warrants and Loan Bonus Shares, as applicable, is considered to be a "related party transaction" within the meaning of MI 61-101 but each is exempt from the formal valuation requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in section 5.5(a) and 5.7(a) as the fair market value, in each case, of the Loans, the Loan Bonus Warrants, and the Loan Bonus Shares, as applicable, is not more than 25% of the Company's market capitalization.
All securities issued 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 applicable securities legislation.
For further information contact:
Fraser Atkinson, CEO
(604) 220-8048
Brendan Riley, President
(510) 910-3377
Michael Sieffert, CFO
(604) 563-4144
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com
Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Loan. Although the Company believes that and the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that the proceeds of the Loan may not be used as stated in this news release, and those additional risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca and with the United States Securities and Exchange Commission filed on EDGAR at www.sec.gov. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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. ©2025 GreenPower Motor Company Inc. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
2 hours ago
- Globe and Mail
1 Stock That Turned $1,000 Into More Than $1 Million
Investors understand that when you extend your time horizon into decades with high-quality businesses, the power of compound growth can work wonders. This is why it's so beneficial to be a long-term owner of companies, allowing their improving fundamentals to positively impact your portfolio. This strategy is far more consistently reliable than constantly trying to time the market. With this perspective in mind, there are definitely some businesses that have generated tremendous wealth for their long-term shareholders. In fact, here's one stock that over the course of the past 28 years would have turned a $1,000 initial investment into a holding worth more than $1 million. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Becoming one of the world's dominant enterprises Since this company's initial public offering in May 1997, its shares have produced an unbelievable return of 217,000%. Had you been able to allocate $1,000 to this stock when it went public, you'd be staring at a balance of nearly $2.2 million today. The company in question is none other than Amazon (NASDAQ: AMZN). Its journey -- characterized by constant innovation and pushing the envelope -- has been nothing short of spectacular. Amazon started out in the mid-1990s selling books online. While this was a narrow focus, it was a revolutionary idea at the time. The company wanted to stick to a product category that was easy and low-risk to ship, and one that had a massive selection of items for shoppers to choose from. Over time, Amazon evolved to start selling virtually anything under the sun, and it continues to expand its footprint. In December, for example, the business launched a partnership that allows consumers to buy new Hyundai vehicles on its e-commerce site. The entire car-buying process, from arranging financing to scheduling the delivery from a nearby dealer, can be handled on Amazon. The company enticed shoppers to spend more money on its site by pioneering fast, free shipping, and offering it as a perk of its Prime membership program in 2005. Today, it is estimated that there are more than 200 million Prime members across the globe. In 2006, the company began offering Amazon Web Services (AWS) to external customers. Management realized that other businesses might need solutions to scaling IT infrastructure based on changing needs -- the same issue Amazon faced with its e-commerce operation. In 2024, AWS generated $108 billion of revenue and $40 billion of operating income. It is the world's largest cloud-computing infrastructure provider and a major artificial intelligence (AI) platform. Thanks to the tremendous amount of traffic gets these days, as well as the success of the Prime Video streaming platform, Amazon has become an advertising juggernaut. During the first quarter of 2025, it collected $13.9 billion in digital ad revenue. What the future might hold With a market capitalization of $2.3 trillion and trailing-12-month revenue of $650 billion, Amazon has grown into a colossal entity and delivered incredible gains to its long-term shareholders. But it would be unreasonable to expect it to do anything similar in the future -- it's already one of the five largest companies in the world. Growth can't continue at a rapid pace indefinitely, and given Amazon's current scale, there are limited opportunities for it to do things that could move the financial needle. That doesn't necessarily mean Amazon isn't a worthy investment candidate, though. According to Wall Street consensus analyst estimates, its revenue is projected to increase at a compound annual rate of 9.5% between 2024 and 2027. That's certainly an encouraging sign. Even better, its bottom line is soaring thanks to cost cuts and operational efficiencies. Diluted earnings per share (on a split-adjusted basis) went from $3.21 in 2021 -- and a $0.27 loss in 2022 -- to $5.53 in 2024. Those impressive gains make the current valuation reasonable, in my view. As of June 19, the stock trades at a forward price-to-earnings ratio of 34.3. Amazon won't turn a $1,000 investment into $2.2 million over the next 28 years. However, this business should be on every long-term investor's radar. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Globe and Mail
7 hours ago
- Globe and Mail
MSTR Shareholder Reminder: Kessler Topaz Meltzer & Check, LLP Reminds MicroStrategy Incorporated d/b/a Strategy (MSTR) Shareholders of Deadline in Securities Fraud Class Action Lawsuit
RADNOR, PA - June 21, 2025 (NEWMEDIAWIRE) - The law firm of Kessler Topaz Meltzer & Check, LLP ( informs investors that a securities class action lawsuit has been filed against MicroStrategy Incorporated d/b/a Strategy ('Strategy') (NASDAQ: MSTR) on behalf of those who purchased or otherwise acquired Strategy securities between April 30, 2024, and April 4, 2025, inclusive (the 'Class Period'). The lead plaintiff deadline is July 15, 2025. You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ DEFENDANTS' ALLEGED MISCONDUCT: The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Strategy's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the anticipated profitability of Strategy's bitcoin-focused investment strategy and treasury operations was overstated; (2) the various risks associated with bitcoin's volatility and the magnitude of losses Strategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times. THE LEAD PLAINTIFF PROCESS: Strategyinvestors may, no later than July 15, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Strategy investors who have suffered significant losses to contact the firm directly to acquire more information. ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Canada News.Net
8 hours ago
- Canada News.Net
Wall Street ends with whimper as investors fret over Israel-Itan conflict
NEW YORK, New YorK - U.S. stocks closed mixed on Friday, with gains and losses modest, as investors and traders weighed up the escalation of hostilities in the Middle East, and President Donald Trump's prevarications over whether or not to involve the U.S. in another war. "With so much uncertainty going on in this world, who really wants to go long over the weekend," Sam Stovall, chief investment strategist at CFRA Research told CNBC Friday. "If there's a calming down of the geopolitical activities, then you know that could be helpful," he said. Major U.S. indexes ended Friday's trading session with mixed results as investors weighed economic data and corporate earnings ahead of the weekend. The tech-heavy Nasdaq led declines, while the Dow Jones managed modest gains. Technology stocks faced pressure following mixed earnings reports, while defensive sectors helped the Dow end in positive territory. Trading volumes were moderate, with the S&P 500 seeing 4.936 billion shares change hands. Analysts noted cautious sentiment ahead of next week's key inflation data and Federal Reserve commentary. Key Market Moves Global Forex Markets Wrap Up Friday with U.S. Dollar Back on Top Friday's foreign exchange session saw the U.S. dollar gaining against all the major currencies. Here's a breakdown of Friday's latest FX rates: Key Currency Pairs EUR/USD (Euro/US Dollar): Rose to 1.1521 up 0.24 percent as the euro strengthened slightly. USD/JPY (US Dollar/Japanese Yen): Climbed to 146.11, gaining 0.46 percent amid continued dollar strength. USD/CAD (US Dollar/Canadian Dollar): Increased to 1.3732, up 0.25 percent as oil-linked currencies faced pressure. GBP/USD (British Pound/US Dollar): Edged lower to 1.3453, dipping 0.09 percent in cautious trading. USD/CHF (US Dollar/Swiss Franc): Advanced to 0.8176, rising 0.15 percent as the franc softened. AUD/USD (Australian Dollar/US Dollar): Fell to 0.6450, down 0.47 percent on weaker risk sentiment. NZD/USD (New Zealand Dollar/US Dollar): Dropped to 0.5965, declining 0.44 percent in tandem with broader commodity FX weakness. Global Markets Wrap Up Friday with Mixed Performance Friday's trading session saw mixed results across global indices, with some markets posting gains while others edged lower. Here's a detailed look at the closing figures: European markets showed resilience, with Germany's DAX leading gains, while Asian indices were mixed amid varied regional economic signals. India's Sensex stood out with a strong rally, whereas Australia and New Zealand saw slight declines. Canada S&P/TSX Composite (Canada): Finished nearly flat at 26,497.57, slipping just 8.43 points (-0.03 percent). UK and Europe FTSE 100 (UK): Closed at 8,774.65, down 17.15 points (-0.20 percent). DAX (Germany): Rose sharply to 23,350.55, gaining 293.17 points (+1.27 percent). CAC 40 (France): Ended at 7,589.66, up 36.21 points (+0.48 percent). EURO STOXX 50: Advanced to 5,233.58, adding 36.55 points (+0.70 percent). BEL 20 (Belgium): Climbed to 4,439.53, increasing by 27.82 points (+0.63 percent). Asia and Pacific Hang Seng (Hong Kong): Jumped to 23,530.48, up 292.74 points (+1.26 percent). Nikkei 225 (Japan): Dipped to 38,403.23, down 85.11 points (-0.22 percent). SSE Composite (China): Closed at 3,359.90, slipping 2.21 points (-0.07 percent). STI (Singapore): Slipped to 3,883.43, losing 10.75 points (-0.28 percent). S&P/ASX 200 (Australia): Fell to 8,505.50, down 18.20 points (-0.21 percent). All Ordinaries (Australia): Dropped to 8,723.50, declining by 17.90 points (-0.20 percent). S&P BSE SENSEX (India): Surged to 82,408.17, gaining 1,046.30 points (+1.29 percent). IDX Composite (Indonesia): Declined to 6,907.14, down 61.50 points (-0.88 percent). KLSE (Malaysia): Inched up to 1,502.74, rising 1.30 points (+0.09 percent). NZX 50 (New Zealand): Fell to 12,569.05, losing 58.27 points (-0.46 percent). KOSPI (South Korea): Rose to 3,021.84, up 44.10 points (+1.48 percent). TWSE (Taiwan): Gained slightly to 22,045.74, adding 42.24 points (+0.19 percent). Middle East Middle East markets were mostly closed on Friday and will re-open on Sunday. Africa Johannesburg All Share (South Africa): Ended at 5,202.45, up 23.46 points (+0.45 percent).
