VANCOUVER, BC, March 5,
2025 /PRNewswire/ -- 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, is today providing an update on its investor relations
representative and Notice from Nasdaq stock exchange.
As previously disclosed, on February 26,
2024 GreenPower entered into an agreement to appoint
RedChip Companies, Inc. ("RC") as an Investor Relations
Representative for GreenPower. The agreement had a term of six
months and has continued on a month to month basis since then.
Under this agreement, RC provides services including assistance
preparing investor marketing material, communicating with and
marketing to potential investors, shareholders and media contacts
and GreenPower pays RC a monthly fee of US $10,500, plus reimbursement of pre-approved
costs, for these services. RC is an investor relations firm based
in Florida, United States, and is acting as an arms length
advisor to GreenPower. To the best knowledge of GreenPower, RC does
not have a direct or indirect interest in GreenPower, or the
securities of GreenPower, nor does it have any right or intent to
acquire such an interest.
On February 27, 2025 GreenPower
received a notice from the Nasdaq stock exchange ("Nasdaq") that
the closing price of GP shares on Nasdaq has been below the minimum
$1 per share for the last 30
consecutive business days, and that GreenPower is therefore out of
compliance with Nasdaq Listing Rules. If GP shares close above
$1 per share for 10 consecutive
trading days within 180 calendar days from the date of notice then
GreenPower will regain compliance. If GP shares do not regain
compliance with the Nasdaq Listing Rules within 180 calendar days
then the Company may be eligible for an additional 180 calendar
days to regain compliance if it meets all of the initial Listing
Standards for the Nasdaq Capital Market other than the bid price
requirement and provides written notice of its intention to cure
the bid price requirement criteria.
For further information contact:
Fraser Atkinson, CEO
(604) 220-8048
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 document
contains forward-looking statements relating to, among other
things, GreenPower's business and operations and the environment in
which it operates, which are based on GreenPower's operations,
estimates, forecasts and projections. 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. These statements are not guarantees
of future performance and involve risks and uncertainties that are
difficult to predict. A number of important factors including those
set forth in other public filings (filed under the Company's
profile on www.sedar.com) could cause actual outcomes and
results to differ materially from those expressed in these
forward-looking statements. Consequently, readers should not place
any undue reliance on such forward-looking statements. In addition,
these forward-looking statements relate to the date on which they
are made. GreenPower disclaims any intention or obligation to
update or revise any forward-looking statements 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. All amounts in U.S. dollars. ©2025
GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company
