GreenPower shares to resume trading on TSX Venture Exchange

GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) announced that the TSX Venture Exchange has completed its review and will reinstate trading of the company's shares on the exchange.

The British Columbia Securities Commission and Ontario Securities Commission revoked a cease trade order on July 31, 2025, after GreenPower filed its overdue annual financial statements. The cease trade order was issued because the company failed to file its audited financial statements, management's discussion and analysis, and related certifications for the year ended March 31, 2025, before the June 30, 2025 deadline. The order did not affect trading on the Nasdaq Stock Exchange.

GreenPower disclosed several financial arrangements as part of the exchange's review process. The company has a revolving loan facility with a credit limit of $5 million and a current outstanding balance of approximately $3.6 million. The loan carries an interest rate of US Prime plus 5% per annum and matures on January 26, 2027.

The company also reported loans from related parties during the year ended March 31, 2025. It received CAD $475,000 from FWP Holdings LLC, $250,000 from Koko Financial Services Inc., and CAD $675,000 from 0851433 BC Ltd. These entities are owned by Fraser Atkinson, the company's CEO and Chairman. The loans carry a 12% annual interest rate.

Additionally, GreenPower has outstanding loans from FWP Holdings with a principal balance of CAD $3.67 million that matured on March 31, 2023, but remain unpaid. These loans have generated accrued interest of approximately CAD $440,000.

The company received additional advances during the quarter ended March 31, 2025, including $150,000 from Koko and CAD $50,000 from FWP Acquisition Corp., which were repaid during the following quarter. It also received $100,000 from Brendan Riley, the company's president.

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