VANCOUVER, BC--(Marketwired - October 07, 2015) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQB: GPVRF) ("GreenPower" or the "Company"), announced it has retained MZ Group as its investor relations advisor. MZ Group will assist GreenPower with all aspects of corporate communications amongst current and prospective investors, while enhancing awareness of the Company within the capital markets. Mike Cole, Senior Vice President for MZ North America, will be the Company's primary investor contact going forward.
"We selected MZ Group as our investor relations partner after careful review because of the breadth and depth of the consulting services they provide on a global level," said Fraser Atkinson, Executive Chairman of GreenPower. "We are confident that the team at MZ Group will provide strong support as we continue to expand our opportunities as a developer and manufacturer of electric powered vehicles for commercial markets. The Company has achieved a number of significant milestones so the next logical step for the Company is to increase our exposure in the capital markets. "
Ted Haberfield, President of MZ Group North America stated, "GreenPower is a unique cleantech opportunity who is prepared to profit from the rapid evolution of the commercial transit industry. Transit agencies have been moving from diesel buses to greener technologies such as hybrid, natural gas and electric. Until recently, batteries were too expensive and didn't deliver the range on a single charge to economically support an all-electric bus, but improving battery technology and costs are rapidly making this option more attractive. Agencies throughout North America are now ramping up their interest in all-electric transportation along with the consumer market. We look forward to helping GreenPower with all aspects of their corporate communications and investor relations needs."
Under the agreement, the Company will pay US$5,000 per month to MZ Group for the first three months of service, $6,000 per month for the next three months, and $7,000 per month thereafter. The Company will grant MZ Group 90,000 stock options at an exercise price of $0.25 on the effective date of the agreement. The company will also grant MZ Group 85,000 options three months from the effective date and an additional 175,000 options six months from the effective date, both at the lowest price permitted by policies of the TSX Venture Exchange. All options will have a term of three years from the date granted, and will vest in equal amounts quarterly over a 12 month period. The initial term of the agreement is 6 months with a provision for automatic 12-month renewals. MZ Group is based in Carlsbad, California, and does not presently own any securities of the Company. The agreement to retain MZ Group is subject to TSX Venture Exchange approval.
About GreenPower Motor Company Inc.
GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range (30 to 60 feet) of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low 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 two 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. For further information go to www.greenpowerbus.com.
About MZ Group
MZ, founded in 1999, combines capital markets intelligence, global investor targeting, IR technology, corporate governance, media and corporate communication and IR consulting, providing comprehensive programs that successfully build and manage shareholder value. With a team of highly experienced senior professionals and an integrated service portfolio, MZ ensures that companies are provided with the right tools and strategies to interact effectively with the investment community and the media, successfully conveying the investment message. MZ Group's market intelligence, advisory and tactical support activities for investor relations and corporate communications programs are underpinned by a comprehensive IT infrastructure, allowing companies to rapidly achieve global standards of best practices. For more information, please visit www.mzgroup.us.
This document may contain forward-looking statements relating to GreenPower's operations or to the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors including those set forth in other public filings 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. © 2015 GreenPower Motor Company Inc. All rights reserved.
Source: Marketwired (Canada)
(October 7, 2015 - 9:15 AM EDT)
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