GreenPower Announces grant of stock option
Vancouver, Canada May 5, 2018 – GreenPower Motor Company Inc. (TSXV: GPV) (OTCQX: GPVRF) (the “Company”), announces the results of the Annual General and Special Meeting that was held yesterday.
The shareholders elected all of the management’s director nominees being Mark Achtemichuk, Fraser Atkinson, Malcolm Clay, Phillip Oldridge and David Richardson.
The shareholders also approved the changes to the stock option plan, the shareholder rights plan and appointed Crowe MacKay LLP as the Company’s auditors for the ensuing fiscal year.
At the conclusion of the Meeting, the Company granted an aggregate of 630,000 incentive stock options including 100,000 incentive stock options to each Director of the Company and 130,000 incentive stock options to employees pursuant to contractual obligations. 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 $0.50. For the employees the stock options vest as to 25% four months after the grant date, 25% one year after the grant date, 25% two years after the grant date and 25% three years after the grant date and for the Directors vest as to 25% four months after the grant date, 25% six months after the grant date, 25% nine months after the grant date and 25% one year after the grant date.
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, and a double decker. GreenPower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions. GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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
For further information contact:
Fraser Atkinson, Chairman
(604) 220-8048
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. © 2018 GreenPower Motor Company Inc. All rights reserved.
