GreenPower Closes Fifth Tranche of Term Loan Offering

Core Points - GreenPower Motor Company Inc. has closed the fifth tranche of its secured term loan offering, amounting to U.S. $250,000, on July 4, 2025 [1] - The net proceeds from the loans will be allocated towards production costs, supplier payments, payroll, and working capital [2] - The loans are secured by a general security agreement on the company's assets and will bear an interest rate of 12% per annum for a term of two years [3] - As part of the loan agreement, the company issued 304,878 non-transferable share purchase warrants and 60,975 shares to one of the lenders [4] - The loans and related transactions are considered "related party transactions" but are exempt from formal valuation and minority approval requirements [5] - 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 date [6] - GreenPower provided a quarterly update indicating that it issued 216,007 common shares at an average price of U.S. $0.45 per share, resulting in gross proceeds of U.S. $97,964 [7]