GreenPower Announces Fourth Tranche of Term Loan
VANCOUVER, BC, June 26, 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 fourth tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $200,000 (collectively, the " Loans"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering.
The Company anticipates closing the fourth tranche of U.S. $200,000 from companies associated with the CEO and a Director of the Company (together, the " Lenders"). Management anticipates that the Company will allocate the net proceeds from the Loans towards production costs, supplier payments, payroll and working capital.
As an inducement for the Loans, the Company will issue non-transferable share purchase warrants (each, a " Loan Bonus Warrant") to one of the Lenders, with the number of Loan Bonus Warrants to be determined by the principal amount of the applicable Loan divided by the Market Price (as such term is defined in the Policies of the TSX Venture Exchange) (the " Market Price"). Each Loan Bonus Warrant will entitle the holder to purchase one common share of the Company (each, a " Share") at an exercise price equal to the Market Price of the Shares on the closing date for a period of twenty-four (24) months. In addition, one of the Lenders will be issued Shares (each a " Loan Bonus Share"), with the number of Loan Bonus Shares to be determined by taking 20% of principal amount of the applicable Loans divided by the Market Price.
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
2 hours ago
- Globe and Mail
With a $3.8 Trillion Market Cap, Does Nvidia Really Still Have Room to Grow?
Nvidia (NASDAQ: NVDA) is the largest publicly traded company, with a market cap of about $3.8 trillion on Friday afternoon, and a stock price that's just below its all-time high. Nvidia's growth story has been nothing short of extraordinary. Revenue has grown by nearly 400% over the past two years as AI investment activity has exploded, and that's after an already extremely impressive multidecade history. 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 » If you don't already own Nvidia, is it too late to invest? With an estimated 95% share of its most important end markets and nearly $150 billion in revenue over the past four quarters, it's easy to understand why Nvidia's upside from here might appear limited. But I'd argue the opposite. Not only do I think Nvidia's revenue could get much larger from here, but the stock could produce market-beating returns for many years to come. Nvidia has more growth potential than you might think Nvidia has four main business segments: data center, gaming, professional visualization, and automotive. The data center segment is by far the most important. In simple terms, AI-focused applications require a tremendous amount of data processing ability, and Nvidia's data center accelerator products are widely considered to be the gold standard. As mentioned, the company has a dominant (estimated) 95% market share. And the industry itself is growing rapidly. Over the past year, Nvidia's data center segment sales tripled, and the $120 billion global market for data center accelerators is expected to roughly double over the next five years. Data center capital spending -- mostly by large tech companies -- is expected to reach $1 trillion annually in just three years, compared to $500 billion today. In other words, if Nvidia simply maintains its dominant market share, the largest and most critical part of its business could double or more in size by 2030. The company's other segments have lots of room to grow as well. The automotive segment is a big opportunity, as advanced autonomous vehicle technology is still in the early stages of evolution, and Nvidia already has 20 of the top 30 EV manufacturers on its customer roster. In fact, GPUs for automotive applications is expected to be a $45 billion market by 2030, and Nvidia also develops software systems, safety systems, and more for automotive applications. Capital allocation and a reasonable valuation Nvidia's free cash flow hasn't been anywhere near the current level for long, but now that the company is generating boatloads of cash, management is allocating it in shareholder-friendly ways. The company does pay a quarterly dividend, but it's a minuscule one (0.03% yield), at least for now. But buybacks are becoming an increasingly large focus of management. In the first quarter, Nvidia spent more than $14 billion on stock buybacks, which was more than half of the company's free cash flow. However, keep in mind that Nvidia's free cash flow grew by 75% year over year, and is expected to grow rapidly for at least the next few years, so it wouldn't be surprising to see buybacks expand along with it. Finally, Nvidia is not a cheap stock, trading at 48 times trailing 12-month earnings and about 34 times sales. But it isn't necessarily an expensive one. Nvidia's revenue growth (both past and projected) clearly justifies a higher P/E ratio. Analyst estimates call for 44% year-over-year earnings growth in the current fiscal year (ending January 2026) and another 34% in the following year. Plus, the combination of this growth rate and Nvidia's stellar margins (net margin over 50%) warrant an elevated price-to-sales multiple. In fact, by some popular metrics, such as the price/earnings-to-growth (PEG) ratio, Nvidia stock looks rather attractive right now. The bottom line is that a combination of a growing market opportunity, shareholder-friendly capital allocation, and a reasonable valuation could allow Nvidia to continue to grow and produce excellent returns for years to come. 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 $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor 's total average return is1,062% — a market-crushing outperformance compared to177%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 23, 2025
Globe and Mail
16 hours ago
- Globe and Mail
Should You Forget SoundHound AI and Buy 2 Artificial Intelligence (AI) Stocks Right Now?
SoundHound AI (NASDAQ: SOUN), a developer of artificial intelligence (AI)-powered speech and audio recognition tools, has been a polarizing investment ever since its public debut three years ago. The bulls were initially impressed by its rapid growth, expanding customer base, and the disruptive potential of its tools, which could be customized for restaurants, vehicles, consumer electronics, and other markets. Nvidia 's minor investment in the company raised even more green flags. However, a lot of SoundHound's growth was driven by its acquisitions rather than its organic improvements -- and it remained deeply unprofitable. It also faces stiff competition from similar voice recognition platforms, and many investors fled after Nvidia sold its entire stake earlier this year. From 2024 to 2027, analysts expect SoundHound's revenue to increase at a compound annual growth rate (CAGR) of 48%. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive by the final year. That's a promising growth trajectory, but it's still richly valued at 20 times this year's sales, so any bad news could easily sink its stock. Instead of investing in SoundHound AI, it might be smarter to invest in two other AI-oriented stocks that are on firmer ground: Arista Networks (NYSE: ANET) and Micron (NASDAQ: MU). 1. Arista Networks Arista Networks is a top networking hardware and software company. But unlike its larger competitor, Cisco, which locks in its customers with proprietary hardware and software, Arista uses off-the-shelf chips and open-source software that are compatible with a broad range of hardware. It also sells low-latency switches, optimized for hyperscale data center and cloud networks, and its CloudVision platform enables those clients to easily monitor their own cloud deployments. Arista's flexible, modular, and scalable strategy made it a top choice for cloud giants like Meta Platforms and Microsoft. So, while Cisco might be a better one-stop shop for enterprise and campus customers, Arista is a more focused play on the booming cloud and AI infrastructure markets. From 2019 to 2024, Arista's revenue rose at a CAGR of 24%, while its adjusted net income increased at a CAGR of 30%. From 2024 to 2027, analysts expect its revenue and earnings per share (EPS) to grow at a CAGR of 19% and 15%, respectively. That growth should be driven by the soaring need for cloud and AI infrastructure upgrades, its gradual expansion into the enterprise and campus markets to challenge Cisco, and the rising adoption of its integrated security services. Arista's stock isn't cheap at 39 times this year's earnings, but it could still have plenty of room to grow. 2. Micron Micron is one of the world's largest producers of DRAM (dynamic random-access memory) and NAND memory chips. It controls smaller slices of both markets than South Korea's Samsung and SK Hynix, but Micron manufactures slightly denser DRAM chips with its 1-beta process. That technological edge makes it a top choice for performance-oriented cloud and AI companies. Micron is a cyclical company that follows the memory market's boom and bust cycles. Its last bust occurred in 2023, when the PC market lapped its pandemic-driven acceleration, the 5G smartphone upgrade cycle cooled, and more data centers prioritized their purchases of Nvidia's AI-oriented graphics processing units (GPUs) over new memory chips. But from fiscal 2024 (which ended last August) to fiscal 2027, analysts expect Micron's revenue and EPS to grow at a CAGR of 23% and 148%, respectively. The company's growth is accelerating again as the PC and smartphone markets stabilize and more data center customers install solid-state drives (SSDs) and high-bandwidth memory (HBM) chips to support the latest cloud and AI applications. That's an impressive growth trajectory for a stock that trades at just 13 times next year's earnings. Micron is likely trading at that lower valuation because it's a cyclical stock. However, it still has plenty of upside potential in this boom cycle as the cloud and AI markets generate fresh tailwinds for its business. Should you invest $1,000 in SoundHound AI right now? Before you buy stock in SoundHound AI, 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 SoundHound AI 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 $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor 's total average return is1,048% — a market-crushing outperformance compared to175%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 23, 2025
Globe and Mail
16 hours ago
- Globe and Mail
Nvidia Stock: Buy at the Current High?
Nvidia (NASDAQ: NVDA) has proven itself to be at the center of the artificial intelligence (AI) revolution. The company designs the most sought-after AI chips to power the performance of AI models and has expanded into a full range of AI products and services, from networking to enterprise software and even a new compute marketplace offering. All of these efforts have helped Nvidia's earnings roar higher, and the company ended the latest fiscal year at a record revenue level of $130 billion. To further illustrate the pace of growth, investors only have to look back two years. Then, Nvidia's annual revenue totaled $27 billion. Nvidia clearly has been a winner in this AI boom. 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 » This victory extends to stock price performance, with the shares climbing a jaw-dropping 1,500% over the past five years to reach a new high this week. Now the logical question is: Should you buy Nvidia at this high or wait for a lower entry point? Nvidia's role in the AI story Nvidia has played and surely will continue to play a pivotal role in the AI story. Nvidia sells the most powerful graphics processing units (GPUs) on the market and has designed a variety of other products to accompany them. So customers, for example, might use Nvidia GPUs along with its high-speed connection NVLink so processors can share data. Customers may opt for Nvidia application software to build AI agents and various AI workflows, or the company's infrastructure software to manage processes. And just recently, Nvidia launched DGX Cloud Lepton, a marketplace where developers can access GPUs from a variety of connected cloud providers. Thanks to its innovation throughout the AI universe, Nvidia has made itself an almost unavoidable option for most companies aiming to develop and apply AI to their businesses. Importantly, Nvidia also has been first to market with many of its products and services, allowing it to take the lead, and its ongoing innovation and this effort to continually offer customers more service options may keep it there. The main risk It's no surprise that all of this has resulted in soaring earnings -- rising in the double- and triple-digit percentages -- and high profitability on sales. Nvidia has maintained gross margin exceeding 70% during most quarters, only declining to 60% in the recent quarter due to a charge linked to lost sales in China. This leads me to the main risk to Nvidia right now, and that is its presence in that particular market, one that made up 13% of sales last year. The U.S. has imposed controls on exports of chips to China, blocking Nvidia's access to that market. The move prompted Nvidia to remove China from its sales forecasts due to being unable to predict what might happen. Nvidia surely would see higher growth if it could sell chips to China, but even without that market, growth is solid. It's important to remember that U.S. customers actually make up nearly half of Nvidia's total sales. Even in the worst scenario -- zero sales in China -- Nvidia's AI growth story remains bright. Is Nvidia stock a buy now? Even with growth going strong and the future looking bright, investors might wonder if buying Nvidia now, at a new high, is a good idea. The stock trades for 35 times forward earnings estimates, higher than a few weeks ago, but lower than a peak of more than 50 just a few months ago. Considering Nvidia's earnings track record, market position, and future prospects, this looks like a reasonable price -- even if it's not at the dirt cheap levels of a few weeks ago. Of course, stocks rarely rise in one straight line, so there very well could be a dip in the weeks or months to come, offering an even more enticing entry point. But it's very difficult to time the market and get in at any stock's lowest point. It's a better idea to buy at a reasonable price and hold on for the long term. And here's why: Nvidia's gains or losses over a period of weeks or one quarter, for example, won't make much of a difference in your returns if you hold onto the stock for several years. That's why you don't necessarily have to worry about buying at the high when you're a long-term investor, as long as the stock's valuation is fair. That's the case of top AI stock Nvidia right now, making it a buy -- even at the high. 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 $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor 's total average return is1,048% — a market-crushing outperformance compared to175%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 23, 2025
