GreenPower Closes Second Tranche of Term Loan Offering
VANCOUVER, BC, May 28, 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 second tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $500,000 (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 568,181 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, two Lenders will be issued an aggregate of 113,635 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
The Market Online
18 minutes ago
- The Market Online
The 5-Minute Investor Podcast, Ep. 14: Buy-now tech stocks
Welcome to episode 14 of The 5-Minute Investor Podcast, where Stockhouse columnists Jonathon Brown and Trevor Abes each deliver a 2.5-minute stock pick related to recent news stories with investment implications. Here is Jon's supporting material for episode 14: How has Canada's tech industry fared in 2025? (Stockhouse). Jon's stock pick for this week is Kraken Robotics (TSXV:PNG), a subsea technology specialist providing 3D imaging sensors, power solutions and robotic systems. At the time of writing, Kraken Robotics stock last traded at C$2.86, adding 201.05 per cent year-over-year and 460.78 per cent since 2020. Here is Trevor's: Here's a list of past episodes: Thanks for listening! The 5-Minute Investor is on Spotify, YouTube, iHeartRadio, Podbean, Stockhouse or wherever finer podcasts are found. Join the discussion: Find out what investors are saying about The 5-Minute Investor Podcast and this week's tech stock picks on the Kraken Robotics Inc. and Gatekeeper Systems Inc. Bullboards, and make sure to check out the rest of Stockhouse's stock forums and message boards. The material provided in this podcast is for information only and should not be treated as investment advice. For full disclaimer information, please click here. (Top image: Adobe Stock)
Globe and Mail
23 minutes ago
- Globe and Mail
Stock Market News for Jun 9, 2025
U.S. stock markets closed sharply higher on Friday to finish a successful first week of June. Market participants were enthused following the release of better-than-expected jobs data for May which evaporates a near-term recession fear. Moreover, positive development on U.S.-China trade talk also bolstered investors' confidence on risky assets like equities. All three major stock indexes ended in positive territory. For the last week, these indexes also finished in green. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) climbed 1.05% or 443.13 points to close at 42,762.87. Notably, 25 components of the 30-stock index ended in positive territory and 5 finished in negative zone. The tech-heavy Nasdaq Composite finished at 19,529.95, surging 1.2% or 231.50 points due to strong performance of technology bigwigs. The major gainer of the tech-laden index was Palantir Technologies Inc. PLTR. The stock price of the AI-enabled Internet-based software maker for intelligence community advanced 6.5%. PLTR currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The S&P 500 jumped 1.03% to finish at 6,000.36. Wall Street's most observed benchmark closed above the technically crucial 6,000 level for the first time since Fed 21. All 11 broad sectors of the broad-market index ended in positive territory. The Consumer Discretionary Select Sector SPDR (XLY), the Health Care Select Sector SPDR (XLV), the Communications Services Select Sector SPDR (XLC), the Energy Select Sector SPDR (XLE) and the Financials Select Sector SPDR (XLF) rose 1.3%, 1%, 1.3%, 1.9% and 1.2%, respectively. The fear-gauge CBOE Volatility Index (VIX) was down 9.3% to 16.77. A total of 14.5 billion shares were traded on Friday, lower than the last 20-session average of 17.8 billion. Advancers outnumbered decliners on the NYSE by a 2.14-to-1 ratio. On Nasdaq, a 2.52-to-1 ratio favored advancing issues. Better-Than-Expected Jobs Data The Department of Labor reported that the U.S. economy added 139,000 jobs in May, beating the Zacks Consensus Estimate of 120,000. The metric for April was revised downward by 30,000 to 147,000 from 177,000 reported earlier. Likewise, the metric for March was revised downward by 65,000 to 120,000 from 185,000 reported earlier. Unemployment rate remained same month-over-month at 4.2% in May. The real unemployment rate (including discouraged workers and the underemployed) also remained same month-over-month at 7.8% in May. Average workweek remained flat at 34.3 in May. Average hourly wage rate increased by 0.4% in May, surpassing the Consensus estimate of 0.3% and April's data of 0.2%. Year over year, average hourly earnings increased 3.9% in May, outpacing the Zacks Consensus Estimate of 3.7%. U.S.-China Trade Talk President Donald Trump said that the Treasury Secretary Scott Bessent and two other top level Trump administration officials will hold a talk with their Chinese counterparts in order to negotiate tariffs and trade related disputes between the two largest trading partners of the world. Aside from Bessent, other two U.S. delegators will be Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. On May 12, the United States and China have decided to for a 90-day pause of tariff implementations. The two countries agreed in a discussion in Switzerland to reach a temporary agreement that 'reciprocal' tariffs between both countries will be cut from 125% to 10%. United States' 20% tariffs on Chinese imports relating to fentanyl will remain intact, meaning total tariffs on China will be 30%. Weekly Roundup Last week was a successful one for Wall Street. The Dow, the S&P 500 and the Nasdaq Composite were up 1.2%, 1.5% and 2.2%, respectively. Positive developments on U.S.-China trade talks and strong nonfarm payrolls in May boosted market participants' confidence in risky assets like equities. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Palantir Technologies Inc. (PLTR): Free Stock Analysis Report
Cision Canada
26 minutes ago
- Cision Canada
GoldMining Announces Closing of Flow-Through Financing and Commences Exploration at Yellowknife Gold Project
Flow-through share price of $1.34 represents ~25% premium to prior closing price; marks first exploration at the Project since 2012 Yellowknife Gold Project is Home to the Former Discovery Mine, Once One of the Highest-Grade Million Ounce Plus Past-Producing Gold Mines in Canada VANCOUVER, BC, June 9, 2025 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that it has closed its non-brokered private placement of 373,135 common shares, which will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each a "FT Share") at a price of $1.34 per FT Share for gross proceeds of $500,000 (the "Offering"). Alastair Still, CEO of GoldMining, commented: "We are pleased to commence first exploration at our 100% owned Yellowknife Gold Project since 2012. The high-grade open pit mineral resource deposits contained within the project, with estimated gold grades in excess of 2.0 g/t, are distinct from the high-grade past-producing underground Discovery Mine which produced more than 1 million ounces of gold at average grade above 1 oz per short ton. High-grade past-producing underground mines have been the source for major gold discoveries in Canada in recent decades including at Red Lake, Kirkland Lake and Windfall Lake. We are extremely excited to be commencing a new chapter of modern gold exploration in the historically prolific and high-grade Yellowknife greenstone belt." The Company will use an amount equal to the gross proceeds from the sale of the FT Shares to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", as such terms are defined in the Income Tax Act (Canada) ("Qualifying Expenditures") in relation to the Company's Yellowknife Gold Project, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2025. All securities issued under the Offering are subject to a hold period expiring four months and one day from the date of closing. The Offering remains subject to final acceptance of the Toronto Stock Exchange. About the Yellowknife Gold Project Located along approximately 100 kilometers of the Yellowknife Greenstone Belt, the Yellowknife Gold Project is comprised of five individual properties: Ormsby – Bruce, Nicholas Lake, Goodwin Lake, Clan Lake and Big Sky (see Figure 1). The Ormsby property hosts the Discovery Mine which operated from 1950 to 1969 with total production estimated to be 1,023,550 oz of gold from 1,018,800 short tons (st) of ore. The average production grade of slightly more than one oz of gold per st is generally considered the highest average grade of produced gold in the Yellowknife gold district, and one of the highest grade gold mines in Canada with production over one million ounces of gold. References to past production activity at the Discovery Gold Mine is provided for information purposes and is not intended to be indicative of future exploration at the Project. The Yellowknife Gold Project deposits can be considered Archean Lode Gold deposits within an orogenic gold environment similar in age and style to mineralization documented throughout the Canadian Shield, including classic Canadian gold camps such as Red Lake, Timmins and Kirkland Lake. Gold occurs in favorable structural settings including areas of contrasting lithological competency, where brittle and ductile shearing provides the fluid pathways for deposition of quartz-carbonate veining as stockwork and lode gold quartz veining. The Yellowknife Gold Project has been the focus of substantial drilling, underground development, and historic gold production. However, no additional exploration activities have been conducted on the Yellowknife gold project since 2012. Historic drilling completed on the property totals 1,061 holes for 231,609 meters. The mineral resource estimate for the Yellowknife Gold Project is estimated to total 14.1 million tonnes ("Mt") at an average grade of 2.33 grams per tonne gold ("g/t Au") containing approximately 1,059,000 ounces ("oz") gold in measured and indicated categories and an additional 9.3 Mt at an average grade of 2.47 g/t Au containing approximately 739,000 oz Au is estimated in the inferred resource category. Mineral resources were estimated with an assumed gold price of $1,500 per ounce and metallurgical recovery of 90%. Most resources are open pit constrained resources with reasonable prospects of eventual economic extraction stated above a 0.50 g/t Au cut-off, with lesser quantities of underground resources estimated as contained within gold grade shapes above a 1.50 g/t Au cut-off based on a visual assessment of the continuity of grade. For further information regarding the Yellowknife Gold Project visit the Company website, and for information on the mineral resource estimate referenced herein, refer to the technical report summary titled "Independent Technical Report, Yellowknife Gold Property, Northwest Territories, Canada" with an effective date of March 1, 2019 and amended June 9, 2021, available under the Company's profile at and Qualified Person Paulo Pereira, P. Geo., President of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Pereira is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). About GoldMining Inc. The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and over 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Yellowknife Gold Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the use of proceeds from the Offering, eligibility of exploration expenses at the Yellowknife Gold Project to qualify as "Canadian exploration expenses" and the use of funds to qualify as "flow-through mining expenditures", the Yellowknife Gold Project and its other projects and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Yellowknife Gold Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
