InvestorNewsBreaks – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) Closes Financing Deal, Including Overallotment Option

Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that develops new-generation power-control electronics that expand the capabilities of electric motors and batteries, has completed its previously announced bought deal financing; the financing includes the exercise in full of the underwriters’ overallotment option. The deal comprised a total of 15,525,000 common shares sold at C$2.25 per common share, resulting in gross proceeds for Exro of C$34,931,250. According to the announcement, the company anticipates using the funds from the offering for capital expenditure and working capital obligations related to its definitive commercialization agreement with Linamar Corporation (TSX: LNR) as well as for general working capital purposes. “We are very pleased to have successfully closed this financing in what we know is a challenging market backdrop for investors,” said Exro Technologies CEO Sue Ozdemir in the press release. “We appreciate the ongoing support of our largest shareholders and welcome a host of new institutional investors to Exro. We look forward to continuing our mission to build a valuable company on behalf of all shareholders by investing the proceeds of this offering to progress our world-class manufacturing facility in Calgary (on track to begin series production next quarter) and our next-generation technologies to meet the growing demand for our advanced power controls for electric vehicles as well as stationary energy storage systems.”

To view the full press release, visit

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 (Coil Driver(TM)) and stationary energy storage (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

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

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