GreenPower Provides Corporate Update
GreenPower Motor Company (Nasdaq: GP) has provided a corporate update regarding two key developments. First, the company confirmed its ongoing relationship with RedChip Companies, Inc. as their Investor Relations Representative, which began February 26, 2024, at a monthly fee of US $10,500. The agreement initially had a six-month term and continues month-to-month.
More critically, on February 27, 2025, GreenPower received a notice from Nasdaq regarding non-compliance with listing rules, as its share price has remained below $1 for 30 consecutive business days. The company has 180 calendar days to regain compliance by maintaining a closing price above $1 for 10 consecutive trading days. If unsuccessful, GreenPower may be eligible for an additional 180-day period to meet this requirement, provided it satisfies other Nasdaq Capital Market listing standards.
GreenPower Motor Company (Nasdaq: GP) ha fornito un aggiornamento aziendale riguardo a due sviluppi chiave. In primo luogo, l'azienda ha confermato la sua continua collaborazione con RedChip Companies, Inc. come loro Rappresentante per le Relazioni con gli Investitori, iniziata il 26 febbraio 2024, con una tariffa mensile di 10.500 dollari USA. L'accordo aveva inizialmente una durata di sei mesi e continua mese per mese.
Più criticamente, il 27 febbraio 2025, GreenPower ha ricevuto un avviso da Nasdaq riguardo alla non conformità con le regole di quotazione, poiché il prezzo delle sue azioni è rimasto al di sotto di $1 per 30 giorni lavorativi consecutivi. L'azienda ha 180 giorni di calendario per ripristinare la conformità mantenendo un prezzo di chiusura superiore a $1 per 10 giorni di trading consecutivi. Se non riesce, GreenPower potrebbe essere idonea per un ulteriore periodo di 180 giorni per soddisfare questo requisito, a condizione che soddisfi altri standard di quotazione del Nasdaq Capital Market.
GreenPower Motor Company (Nasdaq: GP) ha proporcionado una actualización corporativa sobre dos desarrollos clave. Primero, la compañía confirmó su relación continua con RedChip Companies, Inc. como su Representante de Relaciones con Inversores, que comenzó el 26 de febrero de 2024, con una tarifa mensual de 10,500 dólares estadounidenses. El acuerdo tenía inicialmente un plazo de seis meses y continúa mes a mes.
Más críticamente, el 27 de febrero de 2025, GreenPower recibió un aviso de Nasdaq sobre el incumplimiento de las reglas de cotización, ya que su precio de acción ha permanecido por debajo de $1 durante 30 días hábiles consecutivos. La compañía tiene 180 días calendario para recuperar la conformidad manteniendo un precio de cierre superior a $1 durante 10 días de negociación consecutivos. Si no tiene éxito, GreenPower podría ser elegible para un período adicional de 180 días para cumplir con este requisito, siempre que satisfaga otros estándares de cotización del Nasdaq Capital Market.
그린파워 모터 컴퍼니 (Nasdaq: GP)는 두 가지 주요 발전 사항에 대한 기업 업데이트를 제공했습니다. 첫째, 회사는 2024년 2월 26일부터 월 10,500달러의 수수료로 RedChip Companies, Inc.와의 지속적인 관계를 확인했습니다. 이 계약은 처음에 6개월 기간을 가졌으며 매월 연장되고 있습니다.
더 중요한 것은, 2025년 2월 27일 그린파워는 나스닥으로부터의 통지를 받았으며, 이는 상장 규정 준수 실패에 관한 것입니다. 그들의 주가는 30일 연속으로 $1 이하로 유지되었습니다. 회사는 10일 연속으로 $1 이상의 종가를 유지하여 준수를 회복할 수 있는 180일의 기간이 있습니다. 성공하지 못할 경우, 그린파워는 나스닥 자본 시장의 다른 상장 기준을 충족하는 경우 이 요건을 충족하기 위해 추가로 180일의 기간을 받을 수 있습니다.
GreenPower Motor Company (Nasdaq: GP) a fourni une mise à jour d'entreprise concernant deux développements clés. Tout d'abord, la société a confirmé sa relation continue avec RedChip Companies, Inc. en tant que leur Représentant des Relations Investisseurs, qui a commencé le 26 février 2024, avec des frais mensuels de 10 500 dollars US. L'accord avait initialement une durée de six mois et se poursuit mois par mois.
Plus critique, le 27 février 2025, GreenPower a reçu un avis de Nasdaq concernant le non-respect des règles de cotation, car son prix d'action est resté en dessous de 1 $ pendant 30 jours ouvrables consécutifs. La société dispose de 180 jours calendaires pour retrouver la conformité en maintenant un prix de clôture supérieur à 1 $ pendant 10 jours de négociation consécutifs. Si elle échoue, GreenPower pourrait être éligible à une période supplémentaire de 180 jours pour satisfaire cette exigence, à condition qu'elle respecte d'autres normes de cotation du Nasdaq Capital Market.
GreenPower Motor Company (Nasdaq: GP) hat ein Unternehmensupdate zu zwei wichtigen Entwicklungen bereitgestellt. Zunächst bestätigte das Unternehmen seine fortlaufende Beziehung zu RedChip Companies, Inc. als deren Investor Relations Representative, die am 26. Februar 2024 begann, mit einer monatlichen Gebühr von 10.500 US-Dollar. Die Vereinbarung hatte zunächst eine Laufzeit von sechs Monaten und wird monatlich fortgesetzt.
Kritischer ist, dass GreenPower am 27. Februar 2025 eine Mitteilung von Nasdaq bezüglich der Nichteinhaltung der Listungsregeln erhalten hat, da der Aktienkurs 30 aufeinanderfolgende Geschäftstage unter 1 USD geblieben ist. Das Unternehmen hat 180 Kalendertage Zeit, um die Einhaltung wiederherzustellen, indem es einen Schlusskurs von über 1 USD für 10 aufeinanderfolgende Handelstage aufrechterhält. Sollte dies nicht gelingen, könnte GreenPower für einen zusätzlichen Zeitraum von 180 Tagen in Frage kommen, um diese Anforderung zu erfüllen, vorausgesetzt, es erfüllt andere Listungsstandards des Nasdaq Capital Market.
- None.
- Stock price below Nasdaq minimum requirement of $1 for 30 consecutive days
- Risk of potential Nasdaq delisting if compliance not achieved
- Monthly cash burn of $10,500 for investor relations services
Insights
GreenPower Motor Company has received a Nasdaq compliance notice due to its share price remaining below the
The company has a standard 180-day compliance window, during which it must maintain a closing price above
Companies facing potential delisting typically consider strategic options including reverse stock splits to artificially boost share price. While not mentioned in the release, this remains a common remedy that would allow maintenance of Nasdaq listing without requiring actual market valuation improvement.
The compliance issue signals deeper market concerns about GreenPower's prospects in the challenging EV market. A Nasdaq delisting would significantly impact institutional investor accessibility, trading liquidity, and potentially hinder future capital raising efforts - particularly problematic for a company operating in the capital-intensive EV manufacturing sector.
The continued
As previously disclosed, on February 26, 2024 GreenPower entered into an agreement to appoint RedChip Companies, Inc. ("RC") as an Investor Relations Representative for GreenPower. The agreement had a term of six months and has continued on a month to month basis since then. Under this agreement, RC provides services including assistance preparing investor marketing material, communicating with and marketing to potential investors, shareholders and media contacts and GreenPower pays RC a monthly fee of US
On February 27, 2025 GreenPower received a notice from the Nasdaq stock exchange ("Nasdaq") that the closing price of GP shares on Nasdaq has been below the minimum
For further information contact:
Fraser Atkinson, CEO
(604) 220-8048
Michael Sieffert, CFO
(604) 563-4144
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in
Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors including those set forth in other public filings (filed under the Company's profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in
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SOURCE GreenPower Motor Company
FAQ
What is the deadline for GreenPower (GP) to regain Nasdaq compliance?
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