Vancouver, Canada March 26, 2015 – GreenPower Motor Company Inc. (TSXV: GPV) (“GreenPower” or the “Company”), announces that an Annual General and Special Meeting was held on March 25, 2015, which was attended by shareholders in person or by proxy, holding more than 50% of its issued and outstanding shares.
The shareholders elected all of the management’s director nominees being Fraser Atkinson, Phillip Oldridge, Mark Achtemichuk, Malcolm Clay and David Richardson.
The shareholders also approved the stock option plan and appointed Crowe MacKay LLP as the Company’s auditors for the ensuing fiscal year.
In other news, the Company has granted, subject to the approval of the TSX Venture Exchange, 200,000 incentive stock options to a director of the Company with vesting of 25% after four months, 25% after six months, 25% after nine months and 25% after one year exercisable for a period of five years at a price of $0.25 per share.
About GreenPower Motor Company Inc.
GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. In 2014 GPI launched the EV350 40 foot transit bus, which is an electric powered transit bus deploying electric drive and battery technologies with a lightweight chassis and low floor body. Presently, GreenPower is building and marketing the EV350 in North America. The EV350 utilizes a custom battery management system and a proprietary Flex Power system for the drive motors while integrating global suppliers for key components such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM design allows GreenPower’s EV350 to meet the specifications of the operator while providing standard parts for ease of maintenance and accessibility for warranty requirements. For further information go to www.greenpowermotor.com
Forward-Looking Statements
This document may contain forward-looking statements relating to GreenPower’s operations or to the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections, including without limitation statements regarding the vesting of stock options. 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 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.
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.
© 2015 GreenPower Motor Company Inc. All rights reserved.
