05:57 PM EDT, 07/08/2025 (MT Newswires) -- GreenPower Motor ( GP ) said late Tuesday it closed the fifth tranche of its $250,000 secured term loan offering bearing an annual interest rate of 12%.

The company plans to use the proceeds toward production costs, supplier payments, payroll, and working capital.

GreenPower issued 304,878 loan bonus warrants to a lender. Each warrant entitles the holder to purchase one common share at $0.41 per share.

The company said it will also issue 60,975 loan bonus shares to a lender.

Shares of GreenPower Motor ( GP ) were down 3% in after-hours trading.