GreenPower is a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market.
The Company entered into loan agreements with companies controlled by the CEO and a Director of the Company.
The Loans are secured with a general security agreement on the assets of the Company and will have an interest rate of 12% per annum for the first year after the Closing Date.
Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company.
Each of the Loans and the issuance of Loan Bonus Warrants and Loan Bonus Shares is considered to be a related party.
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.
Contact:
Fraser Atkinson is the CEO.
Brendan Riley is the President.
Michael Sieffert is the CFO.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles.
There are forward-looking statements.
The forward-looking statements in this news release are subject to risks and uncertainties which could cause actual results to differ.
The TSX Venture Exchange and its Regulation Services Provider are not responsible for the accuracy or completeness of this release.
GreenPower Motor Company is the source of that information.
GreenPower Motor Company is a leading manufacturer and distributor of all-electric...
GreenPower Motor Company is a leading manufacturer and distributor of all-electric...
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