Mr. Fraser Atkinson reports

GREENPOWER MOTOR COMPANY INC. ANNOUNCES CLOSING OF PUBLIC OFFERING

Greenpower Motor Company Inc. has closed its previously announced public offering of three million of its common shares at a public offering price of $1 (U.S.) per share for gross proceeds of $3-million (U.S.), before deducting underwriting discounts and offering expenses. In addition, Greenpower has granted the underwriter a 45-day option to purchase up to an additional 450,000 shares of common stock to cover overallotments, if any, at the public offering price, less underwriting discounts and commissions.

ThinkEquity LLC acted as the underwriter in the offering. The underwriting discount to ThinkEquity was 7 per cent. The company also issued and sold to certain principals and employees of ThinkEquity warrants to purchase up to 150,000 common shares of the company. The underwriter's warrants are exercisable at any time and from time to time, in whole or in part, during the three-year period commencing immediately from the date of issuance at a per-share exercise price equal to $1.25 (U.S.), subject to any additional terms contained in the agreements representing the underwriter's warrants.

The company intends to use the net proceeds from this offering for the production of all-electric vehicles, including Beast school buses and EV Star commercial vehicles, as well as for product development, with the remainder, if any, for general corporate purposes.

ThinkEquity acted as sole bookrunning manager for the offering.

The offering was made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission. The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC's website. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State St., 41st Floor, New York, N.Y., 10004, attention: prospectus department.

About Greenpower Motor Company Inc.

Greenpower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium- and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans, and a cab and chassis. Greenpower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM (original equipment manufacturer) platform allows Greenpower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. Greenpower was founded in Vancouver, Canada, with primary operational facilities in Southern California.

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