GreenPower Announces Reinstatement of Trading on the TSX Venture Exchange
Rhea-AI Summary
GreenPower Motor Company (NASDAQ: GP) announced the reinstatement of its trading on the TSX Venture Exchange following the revocation of a "failure to file" cease trade order on July 31, 2025. The company had failed to file its annual financial statements by the June 30, 2025 deadline.
The company disclosed significant debt obligations, including a $5 million revolving loan facility with approximately $3.6 million outstanding. Additionally, GreenPower received multiple loans from related parties, including CAD $475,000 from FWP Holdings, USD $250,000 from Koko Financial, and CAD $675,000 from 0851433 BC Ltd, all entities beneficially owned by CEO Fraser Atkinson. Previous loans from FWP Holdings with a principal balance of CAD $3.67 million remain outstanding despite maturing on March 31, 2023.
Positive
- None.
Negative
- Failure to file annual financial statements by deadline led to temporary cease trade order
- Significant related-party debt with high interest rates of 12% per annum
- CAD $3.67M in matured loans remain outstanding since March 2023
- Heavy reliance on CEO-owned entities for financing
News Market Reaction – GP
In the Sep 4 session, GP declined 13.74%, reflecting a significant negative market reaction. Argus tracked a trough of -26.7% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GreenPower entered into a revolving loan facility (the "Term Loan"), as previously described in GreenPower's news release dated February 13, 2024. The Loan is a revolving loan facility with a credit limit of up to
The Exchange also requested that GreenPower describe certain loans with Related Parties entered into in 2022, 2024, and 2025, that were subject to Exchange acceptance, which are disclosed in GreenPower's periodic and annual filings. During the year ended March 31, 2025, the Company received loans totaling CAD
Contacts
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
Forward-Looking Statements
This news release 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. The forward-looking statements in this news release include the statement related to the reinstatement of trading on the TSX Venture Exchange. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors, including those set forth in other public filings (filed under GreenPower's profile on www.sedarplus.ca or www.sec.gov), 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, except as required by applicable securities laws.
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 US dollars unless otherwise indicated. © 2025 GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company