GreenPower Closes First Tranche of Term Loan Offering
VANCOUVER, BC, May 15, 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 first tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $500,000 (the " Initial Loan"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering.
In connection with the Loan, the Company entered into respective loan agreements with companies controlled by the CEO and a Director of the Company (the " Initial Lenders"). Management anticipates that the Company will allocate the net proceeds from the Initial Loan towards production costs, supplier payments, payroll and working capital.
The Initial Loan is 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 advance (the " Advance Date") to and including the date all of the Company's indebtedness pursuant to the Initial Loan is paid in full. The term of the Initial Loan will be two years from the Advance Date.
As an inducement for the Loan, the Company issued 1,086,956 non-transferable share purchase warrants (each, a " Loan Bonus Warrant") to each Initial Lender. 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. $0.46 per Share for a period of twenty-four (24) months from the closing date of the Initial Loan.
The Initial 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 the Initial Loan and issuance of Loan Bonus Warrants 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 of the Initial Loan and Loan Bonus Warrants is not more than 25% of the Company's market capitalization.
All securities issued in connection with the Initial Loan 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
Cision Canada
an hour ago
- Cision Canada
BIOREM Announces Approval of Normal Course Issuer Bid
GUELPH, ON, June 11, 2025 /CNW/ - BIOREM Inc. (TSXV: BRM) ("BIOREM" or "the Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has approved its application to implement a normal course issuer bid("NCIB") for a portion of its common shares ("Common Shares"). Biorem believes that: (1) the repurchase of Common Shares would be an effective use of its cash resources and in the best interests of Biorem and its shareholders; (2) that the current market price of its Common shares does not fully reflect their underlying value; and (3) that current market conditions provide opportunities for the Company to acquire Common Shares at attractive prices. Pursuant to the NCIB notice filed with and accepted by the TSXV, the Company has been authorized to acquire up to a maximum of 806,872 Common Shares, or approximately 5% of the currently issued and outstanding Common Shares as of June 10, 2025, for cancelation. As of June 10, 2025, Biorem had 16,137,437 Common Shares issued and outstanding and a public float of 15,235,000 Common Shares. Purchases under the NCIB will commence on or about June 16, 2025 and will terminate on the earlier of: (i) one year from such commencement; or (ii) the date on which the Company has purchased the maximum number of Shares to be acquired under the NCIB. The NCIB will be conducted on behalf of the Company by Cormark Securities Inc. (the "Broker"). The purchase and payment for the Common Shares will be made in accordance with TSXV requirements at the market price of the Common Shares at the time of acquisition, plus brokerage fees, if any, charged by the Broker. Purchases under the NCIB will be made in accordance with applicable regulatory requirements through the facilities of the TSXV. All Common Shares purchased under the NCIB will be canceled upon their purchase. The Company intends to fund the purchases out of its available resources. To the Company's knowledge, none of the officers, or other insiders of the Company, or any associate of such person, or any associate of affiliate of the Company, has any present intention to sell any Shares to the Company pursuant to the NCIB. The Company has not purchased for cancellation any of its outstanding Shares within the 12 months preceding the filing of the NCIB notice with the TSXV. Advisory Regarding Forward-looking Information This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" (and together with "forward-looking information", "FLI") . All statements other than statements of historical fact are FLI. The use of any of the words "anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "plan", "potential", "predict", "should", "will" and similar expressions, (including negatives thereof) are intended to identify FLI. In particular, this news release includes (without limitation) forward-looking information and statements pertaining to the anticipated benefits of the NCIB. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the FLI contained in this news release are based upon assumptions which management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to FLI contained in this news release, Biorem has made assumptions regarding, among other things, the ability of the Company to achieve the benefits of the NCIB. The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Biorem disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice. About BIOREM Inc. BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2.000 installed systems worldwide, Biorem offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on Biorem is available on our website at SOURCE Biorem Inc.
Cision Canada
an hour ago
- Cision Canada
VIZSLA COPPER ADVANCES THE M5 TARGET AT COPPERVIEW, CENTRAL BC: DEFINES A STRONG AND UNTESTED IP ANOMALY
VANCOUVER, BC, June 11, 2025 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) (" Vizsla Copper" or the " Company") is pleased to report results from a recently completed induced polarization (IP) survey across the M5 target at the Copperview project (the " Project" or " Copperview") in central British Columbia (Figure 1). HIGHLIGHTS New IP data enhances the M5 target: New chargeability and resistivity data demonstrate strong prospectivity for porphyry-related mineralization at Copperview. Untested geophysical anomalies: Coincident chargeability, magnetic and AFMAG anomalies define the broad M5 target area which has never been drill tested. Follow-up programs planned: The largely covered and concealed M5 target area will be the focus of upcoming soil geochemical surveys aimed at refining drill targets. "We have now defined a broad 3.5 km 2 chargeability anomaly at Copperview across a dominantly till-covered area which has never been drill tested," commented Steve Blower, Vice President of Exploration. "The presence of overlapping geophysical anomalies strongly supports the high-prospectivity for mineralization across this area. We will follow-up with soil geochemical surveys and continued mapping aimed at advancing M5 to drill ready stage." The Copperview IP Survey The grid-based IP survey across the M5 target consisted of over 20 line kilometers across seven east-west oriented lines spaced 300 meters apart (Figure 2). The survey was designed to characterize and detect subsurface sulfide mineralization associated with pronounced coincident geophysical (magnetic and MobileMT 1) anomalies at the M5 target area (Figure 1). The IP survey expanded on the 2024 survey where two lines defined an open-ended, high-chargeability anomaly (see February 19 th, 2025 news release). The broadly northwest-southeast oriented >20 mv/v M5 chargeability-high anomaly spans 2.5 by 1.4 kilometers (Figure 2). The core of the chargeability-high anomaly is spatially associated with a strong conductivity-high (resistivity-low) anomaly observed in the ground IP data as well as the recently compiled MobileMT 1 survey (see November 2 nd, 2023 News Release). The intensity of the chargeability anomaly increases with depth (Figure 3) The M5 target is along trend, 6.5 kilometers north of Kodiak Copper's Gate discovery 2 (Figure 1). Porphyry-related copper and gold mineralization at the Gate discovery is spatially associated with a strong chargeability-high coincident with a similar break in the regional-scale magnetic-high lineament (Figure 1). The M5 target has never been drill tested. Next Steps This new chargeability and resistivity data supports the strong prospectivity of the dominantly till-covered area for concealed, porphyry-related mineralization. A grid-based soil geochemical survey covering the M5 target will commence in the coming weeks. Contingent on geochemical results, the M5 target may be drill tested later this year. Figure 1. Map of the Copperview Project showing the location of the M5 target in relation to a regional magnetic-high lineament and Kodiak Copper's Gate discovery. 3 Figure 2. Project scale high-resolution magnetic data showing the location of the IP survey and the strong chargeability anomaly across the M5 target (250m depth slice). Figure 3. Section through the M5 chargeability 3D voxel model showing the strong-chargeability anomaly which has never been drill tested. Section line 3700N A to A' shown in Figure 2. About Vizsla Copper Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada. The Company is primarily focused on its flagship Woodjam project, located within the prolific Quesnel Terrane, 55 kilometers east of the community of Williams Lake, British Columbia. It has three additional copper properties: Poplar, Copperview, and Redgold, all well situated amongst significant infrastructure in British Columbia. The Company's growth strategy is focused on the exploration and development of its copper properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a responsible copper explorer and developer in the stable mining jurisdiction of British Columbia, Canada and it is committed to socially responsible exploration and development, working safely, ethically and with integrity. Vizsla Copper is a spin-out of Vizsla Silver and is backed by Inventa Capital Corp., a premier investment group founded in 2017 with the goal of discovering and funding opportunities in the resource sector. Additional information about the Company is available on SEDAR+ ( and the Company's website ( Qualified Person The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Christopher Leslie, Ph.D., Technical Advisor for Vizsla Copper. Dr. Leslie is a Qualified Person as defined under the terms of National Instrument 43-101. Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The technical information has not been verified by Vizsla Copper and may in some instances be unverifiable. Mineralization hosted on adjacent and/or nearby projects is not necessarily indicative of mineralization hosted on Vizsla Copper's projects. References 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. FORWARD LOOKING STATEMENTS The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: obtaining required regulator approvals for the Copperview Acquisition and the RG Copper Acquisition; satisfying the requirements of the Underlying Option Agreement; the exploration and development of the Poplar Project, Woodjam Project, Redgold Project and Copperview Project; and the Company's growth and business strategies. Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. SOURCE Vizsla Copper Corp.
Globe and Mail
an hour ago
- Globe and Mail
Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Be Worth More Than SoundHound AI by 2026
SoundHound AI (NASDAQ: SOUN) is a leader in conversational artificial intelligence (AI), which is capable of understanding voice prompts and responding in kind. The company's revenue is soaring, but it's burning through significant amounts of cash to fuel its growth. SoundHound stock has surged by 112% over the past 12 months, catapulting its market capitalization to $4.1 billion. But the stock is very expensive right now, which could put a lid on further upside in the short term and perhaps even lead to a sharp correction. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » I predict another AI stock will be worth more than SoundHound by the start of 2026. DigitalOcean (NYSE: DOCN) provides cloud computing services to small and mid-sized businesses (SMBs), but it also has a growing portfolio of AI services that could drive its next phase of growth. DigitalOcean's market capitalization is $2.6 billion as of this writing, so its stock would have to soar by 58% to pass SoundHound's valuation. Here's why I think it will. DigitalOcean is bringing the power of AI to SMBs The cloud computing industry is dominated by Amazon, Microsoft, and Alphabet, but they focus on serving large organizations with big budgets. DigitalOcean has built a successful business by exclusively targeting SMBs, from those in the start-up phase to those with up to 500 employees, which might feel the bigger providers aren't catering to their needs. DigitalOcean has a growing portfolio of cloud services, whether businesses need simple data storage and website hosting, or more complex video streaming and software development tools. The company offers cheap and transparent pricing, highly personalized service, and a simple dashboard. It's an ideal set of features for SMBs with small budgets, and especially for those without in-house technical staff. DigitalOcean is currently adapting its unique business model to help its customers deploy AI. The company operates data centers filled with graphics processing units (GPUs) from Nvidia and Advanced Micro Devices, and it offers fractional capacity, which means SMBs can access between one and eight chips at a time. This is a perfect (and affordable) solution for small AI workloads, like running a customer service chatbot for an online store. At the start of this year, DigitalOcean also launched a new platform called GenAI, which businesses can use to create custom AI agents. These agents can be trained to serve customers, or even to spot opportunities by analyzing trends in internal sales data. The agents are built on some of the best large language models in the world, from leading developers like Meta Platforms, OpenAI, and Anthropic. This advanced level of automation used to be reserved for larger organizations with significant financial resources, but DigitalOcean is making it affordable for SMBs. SoundHound is growing faster, but DigitalOcean is profitable SoundHound AI generated $29.1 million in total revenue during the first quarter of 2025 (ended March 31), which was a 151% increase from the year-ago period. Demand is surging for its conversational AI software from some of the biggest brands in the world, including Stellantis (the owner of Chrysler, Jeep, and Dodge), Chipotle, Krispy Kreme, and more. However, SoundHound is burning through cash to fuel its growth. On a non-GAAP (generally accepted accounting principles) basis, which excludes one-off and non-cash expenses, it lost $22.3 million at the bottom line during the first quarter, which was a 10% increase from the year-ago period. The company has $246 million in cash and equivalents on its balance sheet so it can sustain its losses for a while longer, but profitability will have to become a priority in the next couple of years to avoid the need for a cash injection, which could dilute existing shareholders. On the other hand, Digital Ocean generated $210.7 million in revenue during the first quarter. It was only a 14% increase from the year-ago period, but it was the second-consecutive quarter in which that growth rate accelerated. Plus, management said the company's AI revenue soared by a whopping 160%, but it doesn't disclose the dollar amount attributable to this part of its business. While DigitalOcean is growing its revenue at a slower pace than SoundHound AI, it's increasingly profitable, which means its business is on a more sustainable trajectory, especially for investors thinking about the long term. The company's GAAP net income soared by 171% to $38.2 million during the first quarter, and its non-GAAP net income jumped 30% to $55.4 million. Valuation matters SoundHound AI stock is currently trading at a price-to-sales (P/S) ratio of 36.6, which is extremely expensive considering shares of Nvidia -- which is the world's biggest and most successful AI company -- trade at a P/S ratio of 23.6. DigitalOcean's valuation is far more reasonable, with its P/S ratio hovering at just 3.5: SOUN PS Ratio data by YCharts To put the valuation gap in perspective, DigitalOcean stock would have to soar by 945% in order for its P/S ratio to trade in line with SoundHound's current P/S ratio. I'm not suggesting that will happen, because I think SoundHound's P/S ratio is likely to contract materially from here, especially since it's already trending lower from its peak of over 100. If SoundHound's P/S ratio fell to 23.6 to match Nvidia's valuation, the company's market cap would shrink to $2.7 billion, which would almost be in line with DigitalOcean's. At the very same time, DigitalOcean's P/S ratio has plenty of scope to rise because it's currently trading at a 35% discount to its three-year average of 5.4: DOCN PS Ratio data by YCharts In light of DigitalOcean's rocketing AI revenue, its soaring profits, and its valuation, I think the stock has plenty of upside potential. In contrast, the road ahead might be bumpy for SoundHound stock, so I think DigitalOcean will be the more valuable company before this year is over. Should you invest $1,000 in DigitalOcean right now? Before you buy stock in DigitalOcean, 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 DigitalOcean 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 $660,341!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $874,192!* Now, it's worth noting Stock Advisor 's total average return is999% — a market-crushing outperformance compared to173%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 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Chipotle Mexican Grill, DigitalOcean, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends Stellantis and recommends the following options: long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short June 2025 $55 calls on Chipotle Mexican Grill. The Motley Fool has a disclosure policy.
