GreenPower Closes Fourth Tranche of 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 263,157 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. $0.38 per Share for a period of twenty-four (24) months from the closing date of the Loan. In addition, one Lender will be issued an aggregate of 52,631 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
Globe and Mail
an hour ago
- Globe and Mail
5 Top Artificial Intelligence Stocks to Buy in August
Key Points Nvidia and Broadcom are AI infrastructure leaders. Palantir's AI platform is driving huge growth for the company. Alphabet and GitLab are two AI stocks that are still cheap. 10 stocks we like better than Nvidia › Artificial intelligence (AI) continues to be reshaping the world we live in, which can be both exciting and scary. It's also reshaping the stock market, and it is certainly an area you want to invest in. Let's look at the stocks of five AI leaders that would make top stock buys this month. 1. Nvidia Nvidia (NASDAQ: NVDA) remains the king of AI infrastructure. Its graphics processing units (GPUs) power most AI workloads worldwide, and in the first quarter, it commanded an astonishing 92% of the GPU market. What really sets it apart is its CUDA software platform, which it planted into universities and research labs years before AI went mainstream. That early push created a generation of developers trained on its tools and libraries built on top of its platform, building a moat that rivals struggle to cross. Nvidia has also accelerated its product cycle, planning new chip launches annually to stay ahead of the competition. Its growth opportunities also go beyond data centers, with the automotive market another big opportunity, thanks to the rise of self-driving and robotaxis. Nvidia's mix of market dominance, software moat, and expansion into new markets keeps it firmly at the center of AI. 2. Palantir Technologies Palantir Technologies (NASDAQ: PLTR) started as a critical analytics partner to U.S. government agencies but is now making its mark in commercial markets. Its Artificial Intelligence Platform (AIP) integrates data from numerous sources into an "ontology," allowing AI models to produce clear, actionable results. AIP is essentially becoming an AI operating system, making it a vital platform as companies begin to use AI in their operations. The strength of AIP could be seen in its Q2 results, as the company's U.S. commercial revenue surged 93%, while its total deal value more than doubled and its customer base climbed 43%. Given the breadth of use cases across very different industries that AIP can handle, Palantir has a long runway of growth in front of it. The company has continued to see accelerating revenue growth, and the best part is that many of its customers are still in their early stages of usage. As an essential component of the emerging AI economy, Palantir has the potential to grow into one of the largest companies in the world. 3. Alphabet Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) is proving that AI can strengthen its core businesses. Search has gained momentum with AI Overviews, which is now being used by over 2 billion people a month, helping drive a 12% year-over-year increase in search revenue last quarter. Google Cloud is another major beneficiary of AI, with its revenue jumping 32% and operating profit more than doubling in Q2, thanks to strong AI demand on its Vertex platform. Another area that is often overlooked is Alphabet's Tensor Processing Units (TPUs). As inference performance per dollar starts becoming one of the most important factors in running AI models, Alphabet has a nice advantage with its custom chips. In addition to search and cloud computing, Alphabet is also seeing solid contributions from its other businesses. YouTube ad revenue grew 13% last quarter, with Shorts leading the way. Meanwhile, Waymo is picking up steam, rolling out its robotaxi services to new cities across the U.S. From a valuation perspective, Alphabet is one of the most attractive AI stocks in the market, trading at a forward P/E just over 20. This makes it a must-own stock. 4. Broadcom Rather than competing directly with Nvidia with GPUs, chipmaker Broadcom (NASDAQ: AVGO) is playing to its strengths in AI networking and custom chip design. Its Ethernet switches and other networking components are critical for moving vast amounts of data between AI clusters. Demand here is booming, with its AI networking revenue up 70% in Q1. The real prize, though, may be its work on custom application-specific integrated circuits (ASICs). Broadcom helped develop Alphabet's TPUs and is now designing chips for multiple hyperscalers (companies with massive data centers), with management estimating its top three customers alone could represent a $60 billion to $90 billion opportunity in fiscal 2027. Its recent acquisition of VMware adds another growth lever, with its Cloud Foundation platform helping enterprises manage AI workloads across hybrid cloud environments. Between its leadership in data center networking components, custom chip expertise, and virtualization software, Broadcom is becoming one of the most important players in AI infrastructure. 5. GitLab GitLab (NASDAQ: GTLB) is evolving from a code repository into a full-fledged AI-powered software development platform. Its GitLab 18 release brought more than 30 upgrades, including Duo Agent, which can automate testing, deployment, security, and monitoring. That's important, because developers spend only a fraction of their time writing code. Automating the rest of the workflow can dramatically increase productivity. GitLab has delivered steady 25%-plus revenue growth since going public, with Q1 sales rising 27% year over year. The value of its platform in an AI-driven development world opens the door to a possible shift from seat-based to consumption-based pricing, which could drive revenue even higher. With AI changing how software is built, GitLab's end-to-end approach positions it as a key player in enterprise software development. As investors worry about the impact of AI on software, GitLab's stock has fallen to a very attractive valuation of a forward price-to-sales (P/S) ratio of 7 times the 2025 analyst estimates. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, 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 Nvidia 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 $663,630!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,695!* Now, it's worth noting Stock Advisor's total average return is 1,071% — a market-crushing outperformance compared to 185% 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 August 13, 2025
Globe and Mail
an hour ago
- Globe and Mail
This Underrated Artificial Intelligence (AI) Stock Has Room to Run
Key Points Google Search is putting up impressive growth figures. Google Cloud is a huge beneficiary of the generative AI arms race. 10 stocks we like better than Alphabet › Finding underrated artificial intelligence (AI) stocks isn't an easy task. There's a ton of hype and expectations built into this investment trend, and finding one that's underrated is easier said than done. However, I think there's an underrated AI stock that everyone knows about that's ripe for strong gains over the next few years: Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). While Alphabet may have stumbled out of the gate in the generative AI arms race, it's now near the top of the leaderboard. Alphabet also has other businesses that are doing quite well, giving the stock even more upside. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Google Search is still growing despite rising competition Alphabet is the parent company of many businesses, including Google, YouTube, the Android operating system, and Waymo. While this may sound like a wide reach, a lot of money comes from advertising, specifically from the Google search engine. There is a fear in the investing community that Google search will be replaced by generative AI, which would be disruptive to Google. However, Google isn't just going silently into the night. It already integrated AI search overviews, which provide a generative AI summary at the top of each result. This feature has become quite popular and is likely enough to bridge the gap between a full AI experience and a traditional search. In Q2, Google Search's revenue rose 12% year over year, which is an acceleration from Q1's 10% growth. That's not a sign of a struggling business unit, so investors should likely be less bearish on Google Search. Alphabet also has another segment that's thriving in the AI arms race: Google Cloud. Cloud computing is a growing industry Google Cloud has been one of Alphabet's fastest-growing divisions over the past few years. Cloud computing is seeing two major tailwinds driving its growth: a general move to the cloud for business workloads and AI workloads. Google Cloud had a phenomenal Q2, with revenue rising 32% year over year and its operating margin improving from 11.3% last year to 20.7% this year. The cloud computing industry is expected to continue growing rapidly for the foreseeable future, with Grand View Research forecasting the market to grow from $752 billion in 2024 to $2.39 trillion by 2030. That's a huge expansion, and Google Cloud's third-place position in the industry will allow it to continue grabbing market share. Alphabet is clearly doing quite well, but what makes it underrated? Alphabet's stock is quite cheap compared to the S&P 500 Despite Alphabet's success, it still trades at a discount to the broader market, as measured by the S&P 500. Alphabet is trading for 20.2 times forward earnings compared to the S&P 500's 23.7. GOOGL PE Ratio (Forward) data by YCharts Because of its hefty discount to the market, investors likely expect Alphabet to underperform the market. However, Alphabet has continuously displayed strong growth over the past few years, and the fears many investors had regarding its base business are being disproven each quarter. The reality is that Alphabet is a strong contender in the AI arms race and has a leading generative AI model in Gemini. With other strong businesses under Alphabet's umbrella, it makes for a strong company that's built to weather any economic situation. I think it's an excellent buy at these levels, and won't be surprised to see it be one of the top-performing stocks over the next five years. Should you invest $1,000 in Alphabet right now? Before you buy stock in Alphabet, 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 Alphabet 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 $663,630!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,695!* Now, it's worth noting Stock Advisor's total average return is 1,071% — a market-crushing outperformance compared to 185% 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 August 13, 2025
Globe and Mail
an hour ago
- Globe and Mail
Perplexity Wants to Buy Google Chrome for $34.5 Billion, but That Won't Be Enough
Key Points Perplexity's offer is larger than the current value of the company. Alphabet still has options to fight the decision in court. 10 stocks we like better than Alphabet › Generative AI company Perplexity made a jaw-dropping offer to Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) on Tuesday: It is willing to buy its Google Chrome browser for $34.5 billion. Even more amazing is that Perplexity is only valued at around $18 billion, as of its last fundraising round. Perplexity claims to have investors that would be able to fund the deal should it get agreed to, but I don't think it will. Even though $34.5 billion is a large chunk of change for what appears to be just a web browser, it means far more to Google's ecosystem. I don't think $34.5 billion will be enough, and there are few sums large enough to get CEO Sundar Pichai to even consider an offer. Alphabet has other options than selling Google Chrome today The reason why Perplexity offered to buy Google Chrome is simple: A federal court ruled that Google is operating an illegal monopoly in the advertising space, and selling off Google Chrome was one of the remedies that a federal district court is considering. If the final remedy is to sell off Google Chrome, there are still a couple of courts that Alphabet can appeal to, including a federal appeals court and the Supreme Court. We're still a long way from finding out the conclusion of the Alphabet monopoly saga, and for Alphabet to sell Google Chrome this early would be giving up. Furthermore, CEO Sundar Pichai and Alphabet haven't shown any interest in selling Google Chrome, and its lawyers argued that forcing a Chrome sale would have potential national security implications. Whether that is true or not is beside the point; Google Chrome is an important part of how Alphabet gathers data for ads, and it does not want another company to have control over it. As a result, there's likely no amount of money that Alphabet will agree to sell Google Chrome for unless it has exhausted all other options. But what will happen next? A bidding war may erupt over Google Chrome If Perplexity made an offer, you can bet that other generative AI start-ups such as OpenAI will be quick to follow. An OpenAI executive has already testified to the court that it would be open to buying Chrome, and there are likely other companies in a similar position. Although it may be a meaningless bidding war for reasons laid out above, I wouldn't be surprised to see more offers flood in. I'd also be shocked if Alphabet actually considered any of them, but anything is possible. If Alphabet were to agree to a buyout offer, that would likely indicate that Alphabet already has another browser developed and ready to go to replace Chrome. The information it gains by being a default search engine is massive, and that's an advantage that Google won't easily give up, whether it's for $34.5 billion or $100 billion. We're just in the beginning stages of finding out what will happen with Google Chrome. While this may kick off a round of bids, I'd be surprised if anything is done over the next few years, as there is still a long process of appeals that will continue with Alphabet seeking to maintain control over Google Chrome. Should you invest $1,000 in Alphabet right now? Before you buy stock in Alphabet, 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 Alphabet 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 $663,630!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,695!* Now, it's worth noting Stock Advisor's total average return is 1,071% — a market-crushing outperformance compared to 185% 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 August 13, 2025
