GREENPOWER MOTOR Co INC. Current Report (Foreign Issuer)
GreenPower Motor Company Inc. closed previously approved financing facilities from CIBC totaling US$5 million, consisting of a US$3 million revolving line of credit and a US$2 million term loan with a three-year term.
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Rhea-AI Filing Summary
GreenPower Motor Company Inc. closed previously approved financing facilities from CIBC totaling US$5 million, consisting of a US$3 million revolving line of credit and a US$2 million term loan with a three-year term. Part of the proceeds was used to repay and close the company’s existing operating line of credit, with the balance for general corporate purposes.
Two company directors provided joint and several personal guarantees for up to US$5 million. As an incentive, GreenPower agreed to issue 2,016,129 non-transferable share purchase warrants with an exercise price of US$1.24 per share for 36 months and 403,225 common shares to one of the guarantors. These issuances are treated as related party transactions under MI 61-101 but rely on available exemptions, and all securities will be subject to a four-month-plus-one-day hold period.
Insights
GreenPower adds US$5M in credit while compensating director guarantors with equity.
The company closed CIBC financing facilities totaling US$5 million, split between a US$3 million revolver and a US$2 million three-year term loan. This provides additional liquidity and replaces the existing operating line of credit, which was repaid and closed using part of the new proceeds.
Two directors are jointly and severally guaranteeing up to US$5 million of these facilities. In return, one guarantor receives 2,016,129 share purchase warrants at US$1.24 per share for 36 months plus 403,225 common shares. These are classified as related party transactions under MI 61-101 but use exemptions from valuation and minority approval, and all securities carry a four-month-plus-one-day hold. The net effect combines enhanced borrowing capacity with some equity dilution and added governance sensitivity around insider-linked terms.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2026
Commission File Number 001-39476
GreenPower Motor Company Inc.
(Translation of registrant's name into English)
#240 - 209 Carrall Street, Vancouver, British Columbia V6B 2J2
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED HEREWITH
EXHIBIT 99.1 INCLUDED WITH THIS REPORT ARE HEREBY INCORPORATED BY REFERENCE TO THE REGISTRANT'S REGISTRATION STATEMENTS ON FORM F-3, AS AMENDED (NO. 333-276209) AND FORM S-8 (NO. 333-261422), TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS SUBMITTED.
| 99.1 | Press release dated January 14, 2026 |
- 2 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
GreenPower Motors Inc.
| /s/ Michael Sieffert | ||
| Michael Sieffert, Chief Financial Officer | ||
| Date: January 14, 2026 |
 |
Press Release |
GreenPower Announces Closing of CIBC Financing Facilities
Vancouver, Canada, January 14, 2026 - GreenPower Motor Company Inc. (Nasdaq: GP) ("GreenPower" or 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, today announced that it has closed the previously announced credit approval from CIBC for US$5 million in financing facilities, comprised of a US$3 million revolving line of credit and a US$2 million term loan with a three year term. Two directors of the Company (the "Guarantors") have provided joint and several personal guarantees of up to US$5 million in support of the CIBC financing facilities, and the Company has granted the Guarantors warrants and shares as an incentive for providing the personal guarantees. A portion of the net proceeds from the financings were used to repay and close the Company's existing operating line of credit, with the remainder used for general corporate purposes.
As a bonus for agreeing to provide the personal guarantees on behalf of the Company, the Company has agreed to issue 2,016,129 non-transferable share purchase warrants (each, a "Warrant") to one of the Guarantors. Each Warrant entitles the holder to purchase one common share of the Company (each, a "Share") at an exercise price of US$1.24 per Share for a period of thirty-six (36) months. In addition, the Company has agreed to issue to one of the Guarantors an aggregate of 403,225 Shares. The Guarantors 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 the issuance of Warrants and 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 Sections 5.5(g) and 5.7(e) of MI 61-101.]
All securities issued to the Guarantors will be subject to a statutory hold period of four months plus a day from the closing of the 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. For further information go to www.greenpowermotor.com
©2026 GreenPower Motor Company Inc. All amounts are denominated in US dollars. All rights reserved.