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Cision Canada
8 hours ago
- Business
- Cision Canada
Exro Provides Update on Convertible Debenture Interest Payments
CALGARY, AB, June 23, 2025 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (" Exro" or the " Company"), a leading clean technology company specializing in power control solutions for electric vehicles and energy storage, today provided an update on the settlement of certain interest payments through the issuance of common shares. As of June 23, 2025, pursuant to the terms of the C$15,000,000 senior secured convertible debentures of the Company issued on December 30, 2022 (the "Debentures"), bearing interest at 12% per annum, payable semi-annually in arrears beginning on June 30, 2023 (the "Due Date"), the Company has 14,950 debenture units outstanding, and an aggregate amount of interest owing on the Debentures payable of C$897,000 (the "Interest"). The Company has elected to issue 12,814,284 common shares in the capital of the Company ("Common Shares") at a deemed price of C$0.07 to the debenture holders as payment for the interest. Pursuant to the Debentures, the deemed issue price per Common Share is calculated based on the volume weighted average trading price of the Common Shares for the five trading days immediately prior to June 23, 2025. The issuance of the Common Shares as payment for interest owing on the Debentures is subject to the terms and conditions of the Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the Toronto Stock Exchange. ABOUT EXRO TECHNOLOGIES INC. Exro Technologies Inc., now expanded through the acquisition of SEA Electric, is a leading clean technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information visit our website at To view our Corporate Presentation visit us at Visit us on social media @exrotech. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance 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 times frames or at all. Except where required by applicable 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. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
Cision Canada
16-06-2025
- Business
- Cision Canada
Exro Announces Postponement of Annual General Meeting to September
CALGARY, AB, June 16, 2025 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the " Company" or " Exro"), a leading clean-technology company that develops next-generation power control electronics to enhance the performance of electric motors and batteries, today announced that it will not be proceeding with its previously scheduled Annual General Meeting (AGM) on June 25, 2025. The AGM will be rescheduled to a date in September 2025, with a new meeting date to be confirmed in due course. Shareholders will receive updated meeting materials once the new date has been determined. ABOUT EXRO TECHNOLOGIES INC. Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information visit our website at To view our Corporate Presentation visit us at Visit us on social media @exrotech. Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
Yahoo
16-05-2025
- Automotive
- Yahoo
Exro Technologies Reports First Quarter 2025 Results
CALGARY, AB, May 15, 2025 /CNW/ - Exro Technologies Inc. (TSX: EXRO) ("Exro" or the "Company"), a leading technology company specializing in power control solutions for electric vehicles and energy storage, today announced its financial results for the first quarter ended March 31, 2025. Q1 2025 Highlights Revenue of $4.4 million from delivery of 23 electric propulsion units and aftersales services. Continued integration of Coil Driver™ technology with a third commercial EV platform. Strategic engagements advanced with Stellantis and two additional global automotive OEMs. Workforce reduced by 19% and cost optimization initiatives began to deliver gross margin improvements. "During the first quarter, Exro made meaningful progress executing against its commercialization roadmap," said Exro CEO Sue Ozdemir. "We continued propulsion system deliveries to our commercial vehicle OEM customers, advanced new OEM programs, and began realizing the benefits of targeted cost reductions and margin improvements. With the electrification market continuing to evolve, we remain focused on disciplined execution, strategic capital deployment, and delivering long-term value." Financial Results Revenue for Q1 2025 totaled $4.44 million, compared to $87,828 in Q1 2024. This increase reflects the Company's transition from technology validation to commercial deliveries. Gross profit, excluding amortization, was negative $2.3 million, an improvement from prior quarters, driven by early cost reductions, inventory efficiencies, and product mix optimization. Gross margin per unit improved significantly compared to Q4 2024, continuing the trend toward profitability. Net loss from continuing operations was $23.5 million (or $0.04 per share), compared to a loss of $12.9 million (or $0.08 per share) in Q1 2024. The increase in loss is primarily attributable to non-cash charges, including $7.4 million in depreciation and amortization and $3.8 million in interest expense related to senior secured debt and convertible notes. As of March 31, 2025, the Company held $0.76 million in cash and reported a working capital deficit of $7.0 million. Operating cash flow was negative $11.5 million, reflecting the scaling of commercial operations. Strategic and Operational Update Exro is delivering propulsion units to two of the top five commercial vehicle OEMs in North America and remains in advanced discussions with two others. The Company is pursuing an additional OEM contract for 2026 production. An additional 20% reduction in bill-of-materials costs is targeted by year-end. Additional Cell Driver™ pilot deployments are scheduled across North America. Following quarter-end, Exro is continuing to explore viable funding opportunities to support its business plan. The Company received US $4.0 million ($5,615,510) in additional funding from its existing senior secured creditor. Strategic Wind-Down of APAC Subsidiary As part of its focus on core markets and capital efficiency, Exro has initiated an orderly wind-down of its Australia-based subsidiary. Legal counsel has been retained, and the Company is working to resolve all lease, employment, and regulatory matters. This strategic decision supports the Company's ongoing focus on cost reductions and reallocation of resources to high-impact markets with stronger commercial traction and more efficient capital deployment. Outlook While macroeconomic conditions continue to affect the broader automotive sector, Exro remains confident in the long-term demand for cost-efficient electrification solutions. ABOUT EXRO TECHNOLOGIES INC. Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information visit our website at To view our Corporate Presentation visit us at Visit us on social media @exrotech. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance 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 times frames or at all. Except where required by applicable 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. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release. View original content to download multimedia: SOURCE Exro Technologies Inc. View original content to download multimedia: Sign in to access your portfolio
Cision Canada
16-05-2025
- Automotive
- Cision Canada
Exro Technologies Reports First Quarter 2025 Results
CALGARY, AB, May 15, 2025 /CNW/ - Exro Technologies Inc. (TSX: EXRO) ("Exro" or the "Company"), a leading technology company specializing in power control solutions for electric vehicles and energy storage, today announced its financial results for the first quarter ended March 31, 2025. Q1 2025 Highlights Revenue of $4.4 million from delivery of 23 electric propulsion units and aftersales services. Continued integration of Coil Driver™ technology with a third commercial EV platform. Strategic engagements advanced with Stellantis and two additional global automotive OEMs. Workforce reduced by 19% and cost optimization initiatives began to deliver gross margin improvements. "During the first quarter, Exro made meaningful progress executing against its commercialization roadmap," said Exro CEO Sue Ozdemir. "We continued propulsion system deliveries to our commercial vehicle OEM customers, advanced new OEM programs, and began realizing the benefits of targeted cost reductions and margin improvements. With the electrification market continuing to evolve, we remain focused on disciplined execution, strategic capital deployment, and delivering long-term value." Financial Results Revenue for Q1 2025 totaled $4.44 million, compared to $87,828 in Q1 2024. This increase reflects the Company's transition from technology validation to commercial deliveries. Gross profit, excluding amortization, was negative $2.3 million, an improvement from prior quarters, driven by early cost reductions, inventory efficiencies, and product mix optimization. Gross margin per unit improved significantly compared to Q4 2024, continuing the trend toward profitability. Net loss from continuing operations was $23.5 million (or $0.04 per share), compared to a loss of $12.9 million (or $0.08 per share) in Q1 2024. The increase in loss is primarily attributable to non-cash charges, including $7.4 million in depreciation and amortization and $3.8 million in interest expense related to senior secured debt and convertible notes. As of March 31, 2025, the Company held $0.76 million in cash and reported a working capital deficit of $7.0 million. Operating cash flow was negative $11.5 million, reflecting the scaling of commercial operations. Strategic and Operational Update Exro is delivering propulsion units to two of the top five commercial vehicle OEMs in North America and remains in advanced discussions with two others. The Company is pursuing an additional OEM contract for 2026 production. An additional 20% reduction in bill-of-materials costs is targeted by year-end. Additional Cell Driver™ pilot deployments are scheduled across North America. Following quarter-end, Exro is continuing to explore viable funding opportunities to support its business plan. The Company received US $4.0 million ($5,615,510) in additional funding from its existing senior secured creditor. Strategic Wind-Down of APAC Subsidiary As part of its focus on core markets and capital efficiency, Exro has initiated an orderly wind-down of its Australia-based subsidiary. Legal counsel has been retained, and the Company is working to resolve all lease, employment, and regulatory matters. This strategic decision supports the Company's ongoing focus on cost reductions and reallocation of resources to high-impact markets with stronger commercial traction and more efficient capital deployment. Outlook While macroeconomic conditions continue to affect the broader automotive sector, Exro remains confident in the long-term demand for cost-efficient electrification solutions. ABOUT EXRO TECHNOLOGIES INC. Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive ®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information visit our website at To view our Corporate Presentation visit us at Visit us on social media @exrotech. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance 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 times frames or at all. Except where required by applicable 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. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
Yahoo
23-04-2025
- Business
- Yahoo
Exro Technologies Responds to Market Activity
CALGARY, AB, April 23, 2025 /CNW/ - Exro Technologies Inc. (TSX: EXRO) ("Exro" or the "Company"), a leading technology company specializing in power control solutions for electric vehicles and energy storage, at the request of CIRO today issued the following statement in response to recent trading activity in its common shares. Exro confirms that it is not aware of any undisclosed material change to the Company's business or operations that would account for the recent increase in its share price and trading volume. As previously disclosed, the Company continues to actively explore financing alternatives to support its business plan and remains focused on executing its strategic initiatives. ABOUT EXRO TECHNOLOGIES INC. Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information visit our website at To view our Corporate Presentation visit us at Visit us on social media @exrotech. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance 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 times frames or at all. Except where required by applicable 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. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release. View original content to download multimedia: SOURCE Exro Technologies Inc. View original content to download multimedia:
