VANCOUVER, BC, March 28,
2024 /CNW/ -- GreenPower Motor Company Inc.
(NASDAQ: GP) (TSXV: GPV) (the "Company"), a leading manufacturer
and distributor of purpose-built, all-electric, zero-emission
medium and heavy-duty vehicles serving the cargo and delivery
market, shuttle and transit space and school bus sector, announces
the results of the Annual General and Special Meeting (AGM) that
was held on March 27, 2024.
The shareholders elected all of management's director nominees
being Mark Achtemichuk, Fraser Atkinson, Malcolm
Clay, Cathy McLay,
David Richardson and Brendan Riley.
The shareholders also re-approved the Company's 2022 Equity
Incentive Plan and appointed BDO Canada LLP as the Company's
auditors for the ensuing fiscal year.
The 2022 Equity Incentive Plan includes a 10% rolling stock
option and 2,499,116 common shares for performance-based awards.
Shareholder approval of the Plan must be obtained annually at the
Company's annual general meeting. In addition, the Plan must be
submitted to the TSX Venture Exchange for review and acceptance on
an annual basis.
Following the AGM the Directors of the Company appointed the
following officers of the Company for the ensuing year:
Fraser Atkinson – Chairman and Chief
Executive Officer, Brendan Riley –
President and Michael Sieffert –
Chief Financial Officer and Corporate Secretary.
In addition, after the AGM the Company granted 420,000 incentive
stock options to the four Independent Directors and three Officers
of the Company, 150,000 incentive stock options to employees of the
Company and 35,000 stock options to two consultants. The stock
options are subject to the approval of the TSX Venture Exchange and
are exercisable for a period of five years at a price of CDN
$2.72 per share. Each Director and
the CFO were granted 60,000 stock options that vest in increments
beginning four months after the grant date, and the stock options
will be fully vested one year after the grant date. For the
employees and the consultants, the stock options vest in increments
beginning four months after the grant date, and the stock options
will be fully vested three years after the grant date.
The Company also announced that it has entered into an agreement
to appoint Redchip Companies, Inc. ("RC") as an Investor Relations
Representative for GreenPower. The agreement was entered into on
February 26, 2024 and has a term of
six months. Under this agreement, RC will provide services
including assistance preparing investor marketing material,
communicating with and marketing to potential investors,
shareholders and media contacts and GreenPower will pay RC a
monthly fee of US $10,500 plus
reimbursement of pre-approved costs for these services.
Contact
Fraser Atkinson,
CEO
(604) 220-8048
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 vans 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.
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. © 2024 GreenPower Motor Company Inc. All
rights reserved.
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SOURCE GreenPower Motor Company
