VANCOUVER, BC- GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQX: GPVRF) (the “Company”), announces that the Company has granted an aggregate of 1,337,500 incentive stock options to certain directors, officers, employees and consultants of the Company. The 1,037,500 stock options granted to the directors and officers are exercisable for a period of five years at a price of $0.75 per share. The 100,000 stock options granted to the consultant are exercisable for a period of three years at a price of $0.60 per share. The 200,000 stock options granted to an employee are exercisable for a period of five years at a price of $0.60 and vest as to 25% four months after the grant date, 25% one year after the grant date, 25% two years after the grant date and 25% three years after the grant date.
About GreenPower Motor Company Inc.
GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. GreenPower’s bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower integrates global suppliers for key components, such as Siemens for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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.
Source: GreenPower Motor Company Inc.