Exro Technologis - EXROF STOCK NEWS

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Exro Technologies Inc. is a leading clean technology company that has developed a new generation of power control electronics to enhance electric motors and batteries. The company recently completed the merger with SEA Electric, focusing on accelerating revenue growth and technology deployments. With a strong emphasis on strategic collaborations, Exro has successfully integrated its innovative technologies into multiple sectors, including commercial delivery vehicles and stationary energy storage systems. Notable achievements include UL certification for its Cell Driver™ energy storage system, key partnerships with global OEMs, and a commitment to sustainable electrification.

05/15/2024 11:02 PM

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Exro Launches Post-Acquisition Transformation and Releases Q1 Financial Results

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Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its Q1 2024 financial results and highlighted significant transformations following the acquisition of SEA Electric on April 5, 2024. Exro aims to integrate SEA-Drive® propulsion systems with its Coil Driver™ technology, expecting to deliver over 250 systems in the first six months and more than 1,000 in the next year. The company targets significant cost reductions, projecting annual savings of up to $10 million in 2024. Q1 2024 revenue stood at $1.26 million, an increase from $324,769 in Q1 2023, although net loss widened to $12.87 million from $8.16 million. Exro continues its innovation program with global OEMs and anticipates UL certification of its Cell Driver™ energy storage system by Q2 2024.

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04/30/2024 06:30 AM

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Exro Receives 2024 Automotive News PACEpilot Recognition

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Exro Technologies, a leading clean-technology company, received the prestigious 2024 Automotive News PACEpilot Innovation to Watch award for its Coil Driver™ EV traction inverter. The award celebrates Exro's contribution to technology disruption in the automotive sector, empowering automakers to deliver top-performing, efficient electric vehicles. Exro's emergence as an award winner highlights its position at the forefront of electric vehicle innovation.

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04/05/2024 10:55 AM

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Exro and SEA Electric Announce Completion of Merger

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Exro Technologies Inc. and SEA Electric Inc. have successfully completed their merger, with Exro acquiring all outstanding shares of SEA Electric. Former SEA Electric stockholders received Common Shares and Preferred Shares in exchange. The Combined Company will operate under the name Exro Technologies Inc. and continue trading on the TSX under the ticker symbol EXRO. The Transaction also involved the conversion of Subscription Receipts into Common Shares, providing Exro with approximately $27.85 million in net proceeds for business operations. Key executives from SEA Electric have joined Exro's board of directors, while others have resigned. Early warning disclosures highlight significant ownership changes post-Transaction.

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04/04/2024 02:49 PM

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Exro Announces Shareholder Approval for Proposed Merger with SEA Electric

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Exro Technologies Inc. (EXROF) announces the successful shareholder approval for the merger with SEA Electric Inc., involving the issuance of common shares. The merger agreement received 98.7% approval at the special meeting. The transaction is set to finalize soon.

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04/01/2024 06:47 PM

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Exro Technologies Announces Fourth Quarter and Full Year 2023 Financial Results

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Exro Technologies Inc. announced revenue of $5,736,140 for the twelve months ending December 31, 2023. They entered into a Merger Agreement with SEA Electric Inc. for $30,020,000. The merger aims to enhance technology offerings, accelerate revenue growth, and contribute to profitability.

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03/13/2024 07:03 PM

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Exro Announces Filing and Mailing of Management Information Circular in Relation to the Proposed Merger with SEA Electric

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Exro Technologies Inc. files management information circular for proposed merger with SEA Electric Inc. to strengthen its position in the electric vehicle technology sector and accelerate growth.

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03/12/2024 08:00 AM

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Exro to Present at the 36th Annual ROTH Conference

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Exro Technologies Inc. announces participation in the 36th Annual ROTH Conference to showcase its innovative power-control electronics for electric motors and batteries. The event aims to connect the company with institutional investors for potential growth opportunities.

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03/06/2024 05:30 AM

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Exro Provides Corporate Update with Letter to Shareholders

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Exro Technologies Inc. releases a CEO letter discussing the merger with SEA Electric Inc., EV adoption factors, market positioning, recent events, and technological advancements.

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01/30/2024 07:15 AM

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Exro Announces Merger with SEA Electric to Create Leading e-Mobility Technology Company

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Exro Technologies Inc. and SEA Electric Inc. have entered into an agreement providing for the acquisition of SEA by Exro, expected to strengthen Exro's technology offerings and accelerate revenue growth. The combined company aims to deliver more than 1,000 propulsion technology systems to OEMs in 2024, with aggregate revenues forecasted to be more than C$200 million for the year. The business combination will bring Exro's next-generation technology to the full spectrum of e-mobility platforms, targeting a defined path to profitability within 12 months of completing the transaction.

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01/30/2024 07:13 AM

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Exro and SEA Electric Announces Concurrent C$42 Million Capital Raise Transactions

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Exro Technologies Inc. and SEA Electric Inc. announced a C$42 million capital raise to fund capital expenditures, working capital, and general business requirements in connection with a merger agreement. The capital raise consists of equity and debt financings, with Exro raising approximately C$30 million through the issuance of subscription receipts and SEA receiving an aggregate of US$9 million of debt financing. The net proceeds are expected to support the combined business of Exro and SEA pursuant to the concurrently announced agreement providing for the acquisition of SEA by Exro. The Transaction is expected to close by the end of Q1 2024, subject to approval of Exro shareholders at a special meeting and other customary closing conditions.

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FAQ

What is the current stock price of Exro Technologis (EXROF)?

The current stock price of Exro Technologis (EXROF) is $0.0571 as of February 21, 2025.

What is the market cap of Exro Technologis (EXROF)?

The market cap of Exro Technologis (EXROF) is approximately 38.8M.

What does Exro Technologies Inc. focus on?

Exro Technologies Inc. is a leading clean technology company that develops power control electronics to enhance electric motors and batteries.

What recent merger did Exro Technologies Inc. complete?

Exro Technologies Inc. recently completed a transformational merger with SEA Electric, aiming to accelerate revenue growth and technology deployments.

What are some achievements of Exro Technologies Inc.?

Exro Technologies Inc. has achieved UL certification for its Cell Driver™ energy storage system, formed key partnerships with global OEMs, and demonstrated a commitment to sustainable electrification.

In which sectors has Exro Technologies Inc. successfully integrated its technologies?

Exro Technologies Inc. has integrated its innovative technologies into various sectors, including commercial delivery vehicles and stationary energy storage systems.

What is a notable achievement mentioned in the description?

One notable achievement is the UL certification received for the Cell Driver™ energy storage system.

What sets Exro Technologies Inc. apart from other companies?

Exro Technologies Inc. distinguishes itself through its focus on strategic collaborations, sustainable electrification, and innovative power control electronics.