Term Loan

GreenPower Motor Company announced the closing of the third tranche of its secured term loan, securing an additional $300,000. The funds, provided by entities controlled by the CEO and a director, will support production, supplier payments, payroll, and working capital. The two-year loan carries a 12% annual interest rate and includes share purchase warrants and loan bonus shares for lenders. GreenPower aims to meet growing EV demand.