GreenPower Motor Company Inc. Reverse Takeover and $3.28 Million Financing

Electric-Bus-EV350 We recently assisted with the completion of the going public transaction for GreenPower Motor Company Inc. (TSXV:GPV) (“GreenPower”), which was completed by way of a reverse takeover of Oakmont Minerals Corp. (TSXV:OMK).  In connection with its going public transaction, GreenPower also completed a private placement to raise approximately $3.28 million, partially on a brokered basis.  GreenPower is an electric bus manufacturer with a focus on the North American market.  The EV350 electric bus is GreenPower’s flagship product.  It is a 12 meter electric bus deploying the latest electric drive, battery technologies, and battery management system combined with a lightweight chassis and low floor body. … ... View full post

Clark Wilson LLP Appointed to Act as a PAL (Principal American Liaison) and a DAD (Designated Advisor for Disclosure) on the OTC Market Group’s OTCQX and OTXQB.

OTC Markets Group Inc. (the “Group”) recently announced significant changes to its OTCQB marketplace.  These changes, which began to take effect on May 1, 2014, are intended to align the OTCQB more closely with venture stage markets focused on smaller growth and developing stage companies. Previously, securities were eligible for quotation on the OTCQB market if, among other things, the issuer was a registrant with the Securities and Exchange Commission (the “SEC”) or the Federal Deposit Insurance Corporation (the “FDIC”) and an SEC registered broker-dealer filed a Form 211 with the Financial Industry Regulatory Authority (“FINRA”). … ... View full post

New Prospectus Exemption For Canadian Listed Issuers

On March 13, 2014, the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Yukon, Northwest Territories, Nunavut, and Prince Edward Island adopted a prospectus exemption that will allow issuers listed on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSX-V), and the Canadian Securities Exchange (CSE) to raise money by distributing securities to their existing security holders. In order to acquire securities under the new exemption, an existing security holder must confirm in writing that they are a security holder of the issuer.… ... View full post

OTCQX Drops DTC Requirement, Adopts Sponsor and Disclosure Rules

On February 13, 2014, OTC Markets Group published proposed amendments to the OTCQX Rules for U.S. Companies and OTCQX Rules for International Companies. The OTCQX marketplace is the premier tier of the U.S. over-the-counter markets operated by OTC Markets Group and is a preferred alternative to trading on the U.S. OTCBB. One of the most significant changes is the closer alignment of the roles of the Designated Advisor for Disclosure (the “DAD”) for U.S. companies and the Principal American Liaison (the “PAL”) for international companies. … ... View full post