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VANCOUVER - GreenPower Motor Company Inc. (NASDAQ:GP) (TSXV:GPV), currently valued at $9 million in market capitalization, announced Wednesday that its shares will resume trading on the TSX Venture Exchange following the completion of a regulatory review of the company’s annual filings. The stock, which has declined nearly 60% year-to-date according to InvestingPro data, appears undervalued based on its Fair Value analysis.
The electric vehicle manufacturer had been subject to a "failure to file" cease trade order issued by Canadian provincial securities commissions, which was revoked on July 31 after GreenPower submitted its required financial documentation for the year ended March 31, 2025.
The cease trade order did not affect GreenPower’s listing on the Nasdaq Stock Exchange, where its shares continued to trade throughout the review period.
The company also disclosed details about its financial arrangements, including a $5 million revolving loan facility with approximately $3.6 million currently outstanding. The loan carries an interest rate of US Prime plus 5% per annum and matures in January 2027.
Additionally, GreenPower reported several related-party loans from entities owned by CEO Fraser Atkinson and other company insiders. These include loans totaling CAD $475,000 from FWP Holdings LLC, USD $250,000 from Koko Financial Services Inc., and CAD $675,000 from 0851433 BC Ltd., all beneficially owned by Atkinson.
GreenPower designs and manufactures all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans, with primary operational facilities in southern California.
The information in this article is based on a company press release statement.
In other recent news, GreenPower Motor Company Inc. announced a 10-for-1 share consolidation approved by the TSX Venture Exchange, effective August 28, 2025. This move will reduce GreenPower’s outstanding common shares from approximately 30.46 million to about 3.05 million. The company will retain its ticker symbols "GPV" on the TSX Venture Exchange and "GP" on the Nasdaq Stock Exchange. Additionally, GreenPower has secured a contract with the state of New Mexico for an all-electric school bus pilot project valued at over $5 million. This two-year project will introduce three Type A all-electric Nano BEAST Access school buses in the 2025-26 school year and three Type D all-electric BEAST and Mega BEAST school buses in 2026-27. The contract encompasses vehicle purchases, charging infrastructure, and project management. These developments reflect GreenPower’s continued efforts in advancing electric vehicle initiatives and strategic financial adjustments.
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