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GreenPower Secures $500,000 in Second Tranche of Loan Offering

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GreenPower Secures $500,000 in Second Tranche of Loan Offering

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GreenPower Motor ( (TSE:GPV) ) has issued an update.

GreenPower Motor Company Inc. has successfully closed the second tranche of its secured term loan offering, amounting to a total of $500,000. The funds will be directed towards production costs, supplier payments, payroll, and working capital. The loan agreements involve companies controlled by the CEO and a Director, with a 12% annual interest rate and a two-year term. Additionally, the company has issued non-transferable share purchase warrants and shares as inducements for the loan, which are considered related party transactions but are exempt from certain regulatory requirements.

The most recent analyst rating on (TSE:GPV) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on GreenPower Motor stock, see the TSE:GPV Stock Forecast page.

Spark’s Take on TSE:GPV Stock

According to Spark, TipRanks’ AI Analyst, TSE:GPV is a Neutral.

GreenPower Motor’s overall stock score reflects significant financial and technical challenges. Despite positive revenue growth and strategic initiatives highlighted in the latest earnings call, ongoing financial struggles, bearish market momentum, and unattractive valuation weigh heavily on the stock. The company must address these core issues to improve its market position and stock performance.

To see Spark’s full report on TSE:GPV stock, click here.

More about GreenPower Motor

GreenPower Motor Company Inc. is a leading manufacturer and distributor of all-electric, zero-emission medium and heavy-duty vehicles. The company serves various sectors, including cargo and delivery, shuttle and transit, and school buses. GreenPower employs a clean-sheet design to create purpose-built battery-powered vehicles, integrating global suppliers for key components. Founded in Vancouver, Canada, the company has primary operational facilities in southern California and is listed on the Toronto and NASDAQ exchanges.

Average Trading Volume: 12,196

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$17.99M

For a thorough assessment of GPV stock, go to TipRanks’ Stock Analysis page.

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