- Exro has filed a preliminary and final short form base
shelf prospectus with the securities regulatory authorities in
Canada.
- This shelf prospectus is being filed to give Exro the
flexibility to take advantage of financing opportunities at its
discretion and when market conditions are favourable.
CALGARY, AB, Nov. 18, 2021
/PRNewswire/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB:
EXROF) (the "Company" or "Exro"), a leading clean technology
company that has developed a new class of power electronics for
electric motors and batteries, announced today that it has filed a
preliminary and final short form base shelf prospectus with the
securities regulatory authorities in each of the provinces and
territories of Canada.
Subject to securities regulatory requirements, the shelf
prospectus will provide for the potential offering in Canada of up to an aggregate of C$200,000,000 of Exro's subordinate voting
shares, preferred shares, debt securities, warrants, subscription
receipts and units from time to time over a 25-month period after
applicable Canadian securities regulatory authorities have issued a
receipt for the final short form base shelf prospectus.
This shelf prospectus is being filed to give Exro the
flexibility to take advantage of financing opportunities at its
discretion and when market conditions are favourable. The terms of
such future offerings, if any, will be established at the time of
such offerings. At the time any of the securities covered by the
shelf prospectus are offered for sale, a prospectus supplement
containing specific information about the terms of any such
offering will be filed with applicable Canadian securities
regulatory authorities and the SEC.
The shelf registration statement filed today with the SEC has
not yet become effective. No securities may be sold, nor may offers
to buy be accepted, prior to the time the registration statement
becomes effective. This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent
control solutions in power electronics to help solve the most
challenging problems in electrification. Exro has developed a new
class of control technology that expands the capabilities of
electric motors, generators, and batteries. Exro enables the
application to achieve more with less energy consumed.
Exro's advanced motor control technology, the Coil
DriverTM, expands the capabilities of electric
powertrains by enabling intelligent optimization for efficient
energy consumption. Exro is working with many partners from all
over the world to bring their technology to the electric mobility
industries and beyond.
For more information visit our website at www.exro.com.
Visit us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
This news release contains forward-looking
statements and forward-looking information (together,
"forward-looking statements") within the meaning of applicable
securities laws. All statements, other than statements of
historical facts, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "will be taken", "occur" or "be achieved".
Forward looking statements involve risks, uncertainties and other
factors disclosed under the heading "Risk Factors" and elsewhere in
the Company's filings with Canadian securities regulators, that
could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Although the Company believes
that the assumptions and factors used in preparing these
forward-looking statements are reasonable based upon the
information currently available to management as of the date
hereof, actual results and developments may differ materially from
those contemplated by these statements. Readers are therefore
cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed times
frames or at all. Except where required by applicable law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2020, and financial
statements and related MD&A for the financial year ended
December 31, 2020, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the Toronto Stock Exchange, The Nasdaq Stock Market
LLC nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for
the adequacy or accuracy of this press release.
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SOURCE Exro Technologies Inc.