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TechMediaBreaks – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) Shareholders Approve Proposed Merger at Special Meeting

Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company which has developed new-generation, power-control electronics that expand the capabilities of electric motors and batteries, has announced that all necessary shareholders and stockholders approved the proposed merger with SEA Electric Inc. According to the announcement, the company held a special meeting of shareholders on April 4, 2024. During the meeting, shareholders and stockholders approved an ordinary resolution for the company to issue up to 398,549,647 common shares to stockholders of SEA Electric as outlined in an amended agreement. The agreement is between Exro, its indirect wholly owned subsidiary eTruck VCU Acquisition Inc. and SEA Electric. Shareholders also authorized the company to issue up to 10,000,000 additional common shares in accordance with the merger agreement and to issue 31,600,000 common shares on conversion of 31,600,000 subscription receipts of Exro; those shares will be issued in accordance with the subscription receipt agreement between Exro, Canaccord Genuity Corp. and Odyssey Trust Company. “A total of 69,241,585 common shares were voted at the meeting online or by proxy, representing approximately 40.7% of the issued and outstanding common shares as of Feb. 20, 2024 , the record date for the meeting,” said Exro Technology in the press release. “The transaction is expected to be completed on or about April 5, 2024, and is subject to the satisfaction of all closing conditions set out in the merger agreement. Following completion of the transaction, the combined company will continue to operate under the name Exro Technologies Inc. and continue to be listed and trade on the Toronto Stock Exchange under the ticker symbol EXRO.”

To view the full press release, visit https://ibn.fm/lejEZ

About Exro Technologies Inc.

Exro Technologies is a leading clean-technology company that has developed new-generation, power-control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility — Exro’s Coil Driver(TM) — and stationary energy storage — Exro’s Cell Driver (TM) — and act to accelerate adoption toward a circular electrified economy by delivering more with less, minimum energy for maximum results. For more information about the company, please visit www.Exro.com.

NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF

About TechMediaWire

TechMediaWire (“TMW”) is a tech-focused financial news and content distribution company, one of 50+ brands within IBN, providing: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a specialized communications platform with an extensive team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public tech companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By putting a spotlight on the latest and greatest in the tech industry, TMW brings its clients unparalleled visibility, recognition and brand awareness. TMW is where investors come to learn about the next big things in tech and the companies that are making them happen.

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For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://TechMediaWire.com/disclaimer

TechMediaWire (TMW)
Los Angeles, CA
www.TechMediaWire.com
212.418.1217 Office
Editor@TechMediaWire.com

TechMediaWire is part of IBN.

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