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Thursday, September 3, 2015

M Pharmaceutical reprices 1.43 million warrants

2015-09-03 11:44 ET - News Release

Mr. Matthew Lehman reports
M Pharmaceutical Inc. has resolved to reprice 1.1 million warrants previously due to expire on Sept. 13, 2015, and 330,000 warrants due to expire on Feb. 25, 2016. The exercise price of each of September, 2015, warrants and the February, 2016, warrants has been changed to 13 cents. Further, it was resolved to extend the expiry date of the September, 2015, warrants until the close of business (Vancouver, B.C., local time) on Oct. 31, 2015. The expiry date of the February, 2016, warrants has not been amended and will expire on Feb. 25, 2016. No further amendments have been made to either the September, 2015, warrants or the February, 2016, warrants; all other terms and conditions, as detailed in the respective warrant certificates, remain in effect.

The company will notify affected registered warrant holders by mail or by e-mail. Original, paper warrant certificates will not be replaced. In order to exercise the September, 2015, warrants or the February, 2016, warrants, holders shall provide the original warrant certificates to the company with a cheque in the amount of 13 cents per exercised warrant prior to the applicable expiry date.

Matthew Lehman, the company chief executive officer, stated: "I am pleased that the company is able to amend the terms of existing warrants. I believe this will provide the company capital to progress our development plans for Trimeo, Trimtec and eMosquito."
We seek Safe Harbor.

Thursday, August 27, 2015

GreenPower wins transit vehicle contract from Wash.

2015-08-27 09:16 ET - News Release

Mr. Fraser Atkinson reports
GreenPower Motor Company Inc. has been awarded six categories under the statewide master contract No. 09214 for heavy duty mass transit vehicles by the State of Washington Department of Enterprise Services (DES), which includes 32 categories for Diesel, Clean diesel, CNG, LNG, Hybrid, Electric, Electric Plug-In, Electric En-Route for Low Floor and High Floor buses.

The original solicitation for Bid 09214 states: it is estimated that purchases over the one-year initial term of the contract will approximate $60 million. It is projected that this will consist of 100 heavy-duty buses in various configurations. Over the term of the contract it is estimated that the contract could reach up to 800 buses at approximately $480 million dollars. The State does not guarantee any minimum purchase. Estimated quantities are informational and not to be construed as a warranty of accuracy of historical or anticipated volumes or a guarantee to purchase any amount.
GreenPower was awarded the following six categories:

Heavy Duty Bus - Plug-In Electric30 Footer35 Footer40 Footer45 Footer60 Footer

Heavy Duty Coach - High Floor Electric45 Footer

GreenPower is the only manufacturer that was awarded all five categories under the Heavy Duty Bus - Plug-In Electric. Specifically, GreenPower is the only manufacturer that was awarded the 45 Footer Plug-in electric category and, other than the 40 Footer plug in electric category where two other manufactures were awarded, there was only one other manufacturer awarded along with GreenPower in the remaining categories. The Plug-in electric categories apply to transit buses that are zero emission, route autonomous and are long range in terms of a single charge.

The Master Contract Usage Agreement is a one-time agreement allowing qualifying organizations to use Washington State master contracts. It's also available to Oregon Coop members. The term of the master contract is to July 24, 2020, and the full details of the award are available on the DES website.
"This award is a validation of our suite of products and the market's demand for all electric buses which have the range to cover an agency's requirements on a single charge," said CEO Phillip Oldridge. "We look forward to working with the many transit agencies in Washington and elsewhere who are embracing the benefits associated with deploying electric powered transit buses."
We seek Safe Harbor.