Latest news with #Exro
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.
Yahoo
16-06-2025
- Business
- Yahoo
Exro Announces Postponement of Annual General Meeting to September
CALGARY, AB, June 16, 2025 /PRNewswire/ - 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 view our Corporate Presentation visit us at 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. View original content to download multimedia: SOURCE Exro Technologies Inc. Sign in to access your portfolio
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.
Cision Canada
09-06-2025
- Business
- Cision Canada
Exro Technologies Provides Corporate Update
CALGARY, AB, June 9, 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 execution of the near-term strategic milestones established in connection with the Company's US$30 million credit facility announced on May 16, 2025 (the "Facility"). Milestone Progress 1. Initial Draw Received The Company successfully satisfied the first set of milestones under the Facility, resulting in the receipt of the initial US$2 million draw. These funds provide operating runway to execute against near-term objectives, including cost optimization, business unit prioritization, and strategic engagement. 2. 2025 Operating Budget Approved Exro's Board of Directors has approved the Company's 2025 operating plan and initial 13 week Cash Flow forecast, which has also been accepted by the Lender under the terms of the Facility. 3. Cantor Fitzgerald Engaged as Financial Advisor Exro has entered into an engagement agreement with Cantor Fitzgerald & Co. ("Cantor"), a leading global investment bank, to act as exclusive financial advisor in the Company's ongoing strategic review process. 4. Convertible Debenture Milestone in Progress The Company continues to work toward satisfying the milestone related to its C$15 million in outstanding Convertible Debentures, a requirement for future draws under the Facility. 5. Next Credit Facility Advance Approved Based on the achievement of key milestones – including approval of the operating budget and engagement of a financial advisor – the Lender has approved the Company's next draw under the Facility, which is expected to be received following satisfaction of remaining documentation and procedural steps. 6. Wind-Up of Australian Subsidiaries The Company is on track to complete the wind-up of its Australia-based subsidiaries by the end of June 2025. This follows previously announced steps to exit non-core markets and reallocate resources toward commercial programs in North America. The process is progressing in line with Exro's restructuring timeline. Looking Ahead Exro continues to work towards the satisfaction of the milestones required to make further draws under the Facility. With the assistance of Cantor, a globally recognized financial advisor, Exro looks forward to advancing its strategic review. 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.
Yahoo
09-06-2025
- Business
- Yahoo
Exro Technologies Provides Corporate Update
CALGARY, AB, June 9, 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 execution of the near-term strategic milestones established in connection with the Company's US$30 million credit facility announced on May 16, 2025 (the "Facility"). Milestone Progress 1. Initial Draw ReceivedThe Company successfully satisfied the first set of milestones under the Facility, resulting in the receipt of the initial US$2 million draw. These funds provide operating runway to execute against near-term objectives, including cost optimization, business unit prioritization, and strategic engagement. 2. 2025 Operating Budget ApprovedExro's Board of Directors has approved the Company's 2025 operating plan and initial 13 week Cash Flow forecast, which has also been accepted by the Lender under the terms of the Facility. 3. Cantor Fitzgerald Engaged as Financial AdvisorExro has entered into an engagement agreement with Cantor Fitzgerald & Co. ("Cantor"), a leading global investment bank, to act as exclusive financial advisor in the Company's ongoing strategic review process. 4. Convertible Debenture Milestone in ProgressThe Company continues to work toward satisfying the milestone related to its C$15 million in outstanding Convertible Debentures, a requirement for future draws under the Facility. 5. Next Credit Facility Advance ApprovedBased on the achievement of key milestones – including approval of the operating budget and engagement of a financial advisor – the Lender has approved the Company's next draw under the Facility, which is expected to be received following satisfaction of remaining documentation and procedural steps. 6. Wind-Up of Australian SubsidiariesThe Company is on track to complete the wind-up of its Australia-based subsidiaries by the end of June 2025. This follows previously announced steps to exit non-core markets and reallocate resources toward commercial programs in North America. The process is progressing in line with Exro's restructuring timeline. Looking Ahead Exro continues to work towards the satisfaction of the milestones required to make further draws under the Facility. With the assistance of Cantor, a globally recognized financial advisor, Exro looks forward to advancing its strategic review. 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. View original content to download multimedia: SOURCE Exro Technologies Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
