GreenPower Announces the Appointment of Michael Sieffert as CFO

VANCOUVER, British Columbia, Nov. 21, 2018 (GLOBE NEWSWIRE) -- GreenPower Motor Company Inc. (TSXV: GPV) (OTCQX: GPVRF) ("GreenPower") announces the appointment of Michael Sieffert as the Company's Chief Financial Officer ("CFO") effective December 1, 2018.  Mark Achtemichuk will serve as the CFO to November 30, 2018 and then will continue as an independent member of the Board of Directors.

For the past seven years, Mr. Sieffert worked in various roles at Seaspan Corporation, a public company listed on the New York Stock Exchange (NYSE) with over $7 billion in assets and over $1 billion of annual revenue, most recently as Director, Corporate Finance, with responsibility for capital markets and investor relations. During his tenure, he was involved in the management and execution of over $1.3 billion of common equity, preferred equity and unsecured notes offerings on the NYSE.

"I am excited to join the dedicated and talented team at GreenPower at such an exciting time for the Company," said Michael Sieffert. "With a portfolio of all-electric power buses serving diverse end markets and expanding North American manufacturing capabilities, GreenPower is positioned to take advantage of significant growth opportunities that exist in the market today."

"We are delighted to have Michael Sieffert join our team with the depth of his experience on a senior U.S. exchange, managing analyst coverage, investor engagement and capital raising activities.  Michael has been working at a level where we would like to take GreenPower," said Fraser Atkinson, Chairman of GreenPower. "On behalf of the Board of Directors, I would like to take this opportunity to thank Mark Achtemichuk for his guidance through the start-up to where the Company is poised for growth."

The Board of Directors has agreed to grant Mr. Sieffert 350,000 stock options, with a term of five years, exercise price at the current market price and vesting 25% after 4 months, 25% after the end of the first year of employment and 50% after two years of employment subject to the approval of the TSX Venture Exchange. 

About GreenPower Motor Company Inc.

GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, and a double decker.  GreenPower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions.  GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements.  For further information go to www.greenpowerbus.com

Forward-Looking Statements

This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control, such as the regulations and requirements in different jurisdictions. A number of important factors including those set forth in other public filings (filed under the Company's profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars.  © 2018 GreenPower Motor Company Inc. All rights reserved.