EXRO TECHNOLOGIES INC - EXROF STOCK NEWS

Exro Technologies (TSX: EXRO) (OTCQB: EXROF) announced the successful independent testing of its Coil Driver™ technology by AVL, a respected powertrain testing organization. This testing demonstrated the technology's ability to optimize electric motor performance through coil switching, a first in power electronics. The results indicate reduced weight and cost potential for electric powertrains, enhancing Exro's market position in electric mobility. This validation allows for accelerated commercialization and positions Exro as a pioneering force in the industry.

Exro Technologies Inc. is set to host a webcast on October 7, detailing company updates and project milestones. Despite short-term delays in some 2021 projects, Exro remains optimistic about achieving its 2022 goals. The company will showcase its innovative Coil Driver and Battery Control System at industry conferences, including the Battery Show in Detroit from September 14-16, 2021. With over 60 employees and ongoing facility expansions, Exro is committed to revolutionizing electrification in the mobility sector.

Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) has announced the appointment of Alan Gaines to its Board of Directors, replacing Daniel McGahn, who resigned for personal reasons. Gaines, an expert in finance and clean technology, brings over 35 years of experience and has facilitated more than $100 billion in capital formation. His role aims to support Exro’s growth and expansion in electric vehicle technology.

CEO Sue Ozdemir expressed confidence in Gaines’s ability to enhance Exro's market position as the demand for clean technology rises globally.

Exro Technologies Inc. announced a strategic agreement with Linamar to develop an advanced e-Axle using Coil Driver™ technology, aiming to enhance cost and performance. The Company completed a pilot for its Battery Control System and unveiled a new application of Coil Driver™ technology to simplify electric vehicle infrastructure deployment. Financially, Exro reported a comprehensive loss of $3.74 million for Q2 2021, up from $2.25 million in Q2 2020, driven by increased expenses in R&D and administration. The Company's shares started trading on the Toronto Stock Exchange on July 8, 2021.

Exro Technologies has announced the establishment of its U.S. headquarters in Mesa, Arizona, aimed at enhancing the development of next-generation power electronics for electric motors and batteries. The move aligns Exro with the Greater Phoenix region's thriving e-mobility ecosystem, involving electric vehicle manufacturing and talent resources. Over the next 18 months, Exro plans to hire 50 employees to boost local job opportunities. The new facility will expand R&D and testing capabilities for Exro's advanced technology, Coil Driver™, facilitating efficient energy consumption in electric vehicles.

Exro Technologies has announced a new application for its patented Coil Driver™ technology aimed at reducing the cost and complexity of electric vehicle (EV) infrastructure deployment. The technology enhances powertrain performance and enables seamless fast charging while supporting grid electricity supply. Exro has filed a new family of patents for this application, now totaling 36 patents. The Coil Driver™ can integrate multiple components essential for EV operation, promising cost efficiency and scalability. Initial findings indicate potential for grid connectivity and mobile energy storage, positioning Exro as a leader in EV technology.

On July 9, 2021, Exro Technologies Inc. announced the successful election of nominee directors at its Annual General Meeting held in Vancouver, B.C. All proposed matters received requisite majority approval, including setting the board size at eight and appointing auditors. A total of 39,163,553 shares were voted, which is 32.563% of the outstanding shares. The directors elected include Mark Godsy and Sue Ozdemir, with over 99% votes in favor. For detailed voting results and information on future developments, visit SEDAR.

Exro Technologies has received final approval to list its common shares on the Toronto Stock Exchange (TSX) under the symbol EXRO, starting July 8, 2021. This transition follows a successful 10 months of trading on the TSX Venture Exchange. CEO Sue Ozdemir emphasized the achievement as a testament to the company’s progress and strong leadership, aiming to broaden its global investor base and align with ESG-focused investors. Concurrently, Exro's shares will be delisted from the TSX Venture Exchange.

Exro Technologies Inc. (TSXV: EXRO) (OTCQB: EXROF) has announced its upcoming Annual General Meeting (AGM) set for 11:00 am Pacific time on July 9, 2021. Shareholders are reminded to submit proxies by 11:00 am Pacific time on July 7, 2021. A key agenda item includes the approval of a new class of preferred shares, which will have restrictions preventing the issuance of preferred shares convertible into common shares representing 50% or more of the outstanding common shares. Further details can be found in the management information circular dated June 7, 2021.