Welcome to our dedicated page for GWTNF news (Ticker: GWTNF), a resource for investors and traders seeking the latest updates and insights on GWTNF stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GWTNF's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GWTNF's position in the market.
Grande West Transportation Group has increased its non-brokered private placement from $6.5 million to $8 million due to positive investor interest. This increase is subject to regulatory approvals from the TSXV. Grande West is a Canadian manufacturer of mid-sized multi-purpose transit vehicles, including the Purpose-Built Vicinity bus, compliant with Buy America certification. The company has successfully supplied municipal transportation agencies and is expanding its distribution in the U.S.
Grande West Transportation Group has announced plans to purchase commercial property for its U.S. operational headquarters, located in Washington State. The company has secured a $6.5 million non-brokered private placement funding. The new facility will focus on production, including Buy America assembly, and R&D. The private placement consists of 6.5 million units priced at $1.00 each, with warrants available for an additional $1.50 share for two years. The initiative aims to enhance Grande West’s operations in the U.S. market.
Grande West Transportation Group has partnered with hofer powertrain to integrate advanced electric vehicle powertrains into its Vicinity buses. This collaboration aims to expedite the production of the Vicinity LT EV, which is scheduled for delivery in 2021. Hofer's expertise in powertrain systems will enhance the energy efficiency of Grande West vehicles by optimizing performance and reliability. This strategic partnership positions Grande West to meet growing demand for electrified transit solutions while maintaining competitive pricing through standardized components.
Grande West Transportation Group has engaged LION Smart GmbH to integrate BMW technology into its new Vicinity LT EV bus, set for launch in Q4 2020. This collaboration includes engineering services for power management and battery integration, utilizing BMW's high-voltage battery packs. Following the development phase, significant orders for battery packs may occur in 2021. This partnership aims to enhance Grande West's EV offerings and leverage proven technology, with the demonstration vehicle expected for delivery in Q1 2021.
Grande West Transportation Group has begun trading on the OTCQX, under the symbol GWTNF, as of October 29, 2020. The upgrade provides enhanced visibility and access to a broader U.S. investor base, especially in the electric vehicle sector. John LaGourgue, VP of Corporate Development, highlights the benefits of this regulated market for shareholders. The company designs mid-sized transit vehicles, including the electric Vicinity LT EV, and is focused on expanding its presence in both Canadian and U.S. markets.
Grande West Transportation Group (GWTNF) has renewed its $20 million credit facility with the Royal Bank of Canada for a three-year term. The facility, based on the company’s asset value, aims to support ongoing working capital needs.
With a maintained fixed charge coverage ratio of over 1.1, this credit line is expected to relieve financial pressures, allowing for continued growth and expansion, particularly with the new Vicinity EV model. Additionally, the board has granted 28,580 Deferred Share Units (DSUs) for director remuneration, pending shareholder approval to increase the DSU Plan from 200,000 to 500,000 shares.
Grande West Transportation Group has secured a purchase order from the Region of Waterloo for four Vicinity buses, valued at approximately $2 million, to be delivered in the second half of 2021. The company also completed the delivery of 34 compressed natural gas (CNG) Vicinity buses, showcasing its commitment to reducing greenhouse gas emissions. Grande West now operates over 500 Vicinity buses across North America, reinforcing its position in the transit vehicle market.
Grande West Transportation Group (OTC PINK:GWTNF) has engaged Paradox Public Relations for investor relations services to enhance its market presence over the next 24 months, at a cost of $10,000 per month. The firm aims to foster connections within the financial community through targeted marketing and presentations. Additionally, Grande West has granted 200,000 stock options to Paradox and 300,000 Restricted Stock Units (RSUs) to its employees, tying vesting to performance milestones. The company is increasing its Deferred Share Units (DSUs) plan from 200,000 to 500,000 shares, pending regulatory approval.
Grande West Transportation Group (GWTNF) reported a revenue decline of 27.3% for Q2 2020, totaling $8.7 million, down from $11.9 million in Q2 2019. The company faced a net loss of $794,577, compared to $434,507 in the previous year. Aftermarket parts sales continue, despite COVID-19 disruptions, with targeted deliveries of 150 buses by year-end 2020. The company received $546,604 in government aid, aiding salary expenses. The outlook remains positive with expectations of growth in U.S. markets and completion of ongoing contracts, despite pandemic-related delays.
Grande West Transportation Group (TSXV:BUS)(OTC PINK:GWTNF) plans to release its 2020 second quarter financial results on August 24, 2020, after market close. A conference call for stakeholders is scheduled for August 25, 2020, at 11:00 AM EST, providing an opportunity for interested parties to discuss the results. Grande West specializes in mid-sized transit vehicles and is actively expanding its market presence in both Canada and the US, maintaining compliance with Buy America certification.
