GreenPower Secures Major Loans, Regains Trading Status Amid Filing Delays
GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) has experienced significant financial activity and regulatory changes recently. The company obtained substantial personal loans and student loans, had a cease trade order lifted, and has since had its shares reinstated for trading on the TSX Venture Exchange.
GreenPower obtained loans totaling CAD $475,000, USD$250,000, and CAD$675,000 from various entities during the year ended March 31, 2025. Notably, a loan from FWP Holdings LLC bears interest at a floating rate of US Prime +5% per annum and matures on January 26, 2027. The company also received a short-term loan of $125,000 from Countryman, owned by a director, which was later repaid.
GreenPower has a revolving loan facility with a credit limit of up to $5,000,000, with an outstanding balance of approximately $3.6 million. The company's securities were subject to a 'failure to file' cease trade order, which was lifted on September 29, 2023, and later revoked on July 31, 2025. However, GreenPower failed to meet the June 30, 2025 deadline to file its audited financial statements and related certifications for the year ended March 31, 2025.
GreenPower has secured substantial loans to support its operations, but it also faces outstanding balances and unpaid interest. The company's shares have been reinstated for trading, but it must address its filing obligations to maintain compliance with regulatory bodies.
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