{"id":388114,"date":"2020-11-24T16:25:01","date_gmt":"2020-11-24T21:25:01","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388114"},"modified":"2020-11-24T16:25:01","modified_gmt":"2020-11-24T21:25:01","slug":"exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/","title":{"rendered":"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <strong>NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\u00a0<\/strong><br \/>\n        <strong>IN THE UNITED STATES. \u200e<\/strong>\n      <\/p>\n<p align=\"justify\">CALGARY, Alberta, Nov.  24, 2020  (GLOBE NEWSWIRE) &#8212; Exro Technologies Inc. (<strong>TSXV: EXRO<\/strong>) (&#8220;<strong>Exro<\/strong>&#8221; or the &#8220;<strong>Company<\/strong>&#8220;) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec, in connection with a marketed public offering (the \u201c<strong>Offering<\/strong>\u201d) of \u200e common shares (the \u201c<strong>Shares<\/strong>\u201d) of the Company. Final pricing and the determination of the maximum number of Common Shares to be sold \u200epursuant to the Offering will be determined in the context of the market prior to the filing of the final short form \u200eprospectus in respect of the Offering\u200e. The Offering is being conducted on a \u201cbest efforts\u201d agency basis by a syndicate of agents led by Raymond James Ltd. and Gravitas Securities Inc., as co-lead agents and bookrunners, on behalf of a syndicate of agents \u200e\u200e(collectively, the \u201c<strong>Agents<\/strong>\u201d). \u200eThe Company has agreed to grant the Agents an option\u00a0(the &#8220;<strong>Over-Allotment Option<\/strong>&#8220;),\u00a0exercisable in whole or in part at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up \u200eto an additional 15% of the Shares sold under the Offering, on the same terms and conditions of the Offering to cover \u200eover-allotments, if any, and for market stabilization purposes.\u00a0<\/p>\n<p align=\"justify\">The closing of the Offering is anticipated to occur on\u00a0December 8, 2020\u00a0or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an \u200eagency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities \u200eregulatory authorities and the TSX Venture Exchange\u200e (the \u201c<strong>TSXV<\/strong>\u201d).<\/p>\n<p align=\"justify\">The net proceeds from the Offering will be used for further research and development of the Company\u2019s intelligent battery management system, micro, light and commercial electric vehicle programs, marketing, capital investments and general working capital requirements.<\/p>\n<p align=\"justify\">The Company has applied to list the Shares on the TSXV. A copy of the preliminary short form prospectus is available under the Company\u2019s profile at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Qk5HXozRdI62mwbvG1c6-YWnn8wFMY-uKbVtXJFnZjTbXHIJ5ERu6NwCUthAclRYNHgafpgYfqHG07yNPjCW9A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.sedar.com<\/a> or by request to Raymond James Ltd. at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=bsgVis74RnKCai8d39aAfac7iT2JHG0r0W0Xwr3zCiCRnzivfEy4GWhgKnzRB_lW-OW-TrwItXP8EmdWXsPrc97ZPyKsIcdIvHCbnug7Owb_kQF0WJqrRMGoBQ_lwpkI\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">ECM-syndication@raymondjames.ca<\/a> or Gravitas Securities Inc. at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fEyBwr4C5lle1AWJfZgjtBlX67ueu3y9YDt6mvpmluPLQRPl3m58-Xb3EQusMRw3Nfguie6IRkaG_D2J2pEdaVgabzgNCX_Cz3ewJMnySOrjabDGU8rB0QiVTIfPlojHqGkT8hu7yT9o9ejkVanjVw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">syndication@gravitassecurities.com<\/a>.<\/p>\n<p align=\"justify\">The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.<\/p>\n<p>\n        <strong>About <\/strong><br \/>\n        <strong>Exro<\/strong><br \/>\n        <strong> Technologies<\/strong><br \/>\n        <strong>Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">Exro is a Clean Tech company that has developed a new class of control technology for electric powertrains.\u00a0 Exro\u2019s advanced motor control technology, our \u201cCoil Driver\u201d, has been designed to expand the capabilities of electric motors and powertrains. The Coil Driver enables two separate torque profiles within a given motor. The first is calibrated for low speed and high torque, while the second provides expanded operation at high speed. The ability to change configuration allows efficiency optimization for each operating mode, resulting in overall reductions in energy consumption. The controller automatically and seamlessly selects the appropriate configuration in real time so that torque demand and efficiency are optimized.<\/p>\n<p align=\"justify\">The limitations of traditional electric machines and power technology are becoming more evident. In many increasingly prominent applications, traditional methods cannot meet the required performance. This means either oversizing the equipment, adding additional motors, or implementing heavy mechanical geared solutions. Exro offers a new solution for system optimization through implementation of its technology which can yield the following results: increased drive cycle efficiency, reduced system volume, reduced weight, expanded torque and speed capabilities. Exro allows the application to achieve more with less energy consumed.<\/p>\n<p>For more information visit our website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-4RCUOeVTP_805SM5Y2Ip30TXOPtVUgHY3FqxQARjD4b1jsGaAkmwCCN8ehglutPX4D5_qcvDloKDSls2Lir2g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.exro.com<\/u><\/a>.<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gO3GiGZWZREo1iHkCm4Hz2HJfhGjYdpBpnoXbXWUpjvuAHw40ApM_OiHlSoK-l3VP-JKL2O6U8t0BPv06oTqaJRyxi1n70q_oeeCSJnnwvWKwhcGEiVSvlag6Hc0Abqx\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Linkedin<\/a>\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8rKjhkaHbE6SJrxmVhUD7ybrijuFxSf5rKalOpmxCGDd8WTgOALIrb7qIhH7AUAUZToRtsu6f0KKqx9jPuAbbQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HzSaSewL7MSyjeBBsUpCKHK6Hwzfr5yfrJTXtckMi7vlb63QZxOX3ODyJhMK5_mQKSyh_ryuJs_pp8HXdwkRESVq2qol4-EUgEP27OsSjEk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>\u00a0<\/p>\n<p>\n        <strong>ON BEHALF OF THE BOARD OF DIRECTORS<\/strong>\n      <\/p>\n<p>\n        <em>Sue <\/em><br \/>\n        <em>Ozdemir<\/em><br \/>\n        <em>, Chief Executive Officer<\/em>\n      <\/p>\n<p>\n        <strong>CONTACT INFORMATION<\/strong><br \/>\n        <br \/>Canada: Jake Bouma<br \/>VP of Investor Relations<br \/>604-317-3936<\/p>\n<p>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FRpICMQqGKeNY2kZYpiUREy3bXnl0eKe5K_CvbbsNwBpjIrYy5B_RsjVT2ZlilQx2Tmp9Po8kcXyj8grhpRz5A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">info@exro.com<\/a><\/p>\n<p>\n        <strong>CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS<\/strong>\n      <\/p>\n<p align=\"justify\">This news release contains forward-looking statements and forward-looking information (together, &#8220;<strong>forward-looking statements<\/strong>&#8220;) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as &#8220;plans&#8221;, &#8220;expects\u201d, &#8220;estimates&#8221;, &#8220;intends&#8221;, &#8220;anticipates&#8221;, &#8220;believes&#8221; or variations of such words, or statements that certain actions, events or results &#8220;may&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;might&#8221;, &#8220;will be taken&#8221;, &#8220;occur&#8221; or &#8220;be achieved&#8221;. The forward-looking statements contained in this news release are based on certain key expectations and assumptions \u200emade by the Company, including expectations and assumptions regarding the terms, timing and potential completion \u200eof the Offering, satisfaction of regulatory requirements in various jurisdictions and the use of the net proceeds of the \u200eOffering. \u200eForward looking statements involve risks, uncertainties and other factors disclosed under the heading \u201cRisk Factors\u201d and elsewhere in the Company\u2019s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.<\/p>\n<p align=\"justify\">Neither 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.<\/p>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTg2NSMzODQyOTQzIzUwMDA3NTkyMA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/28765ce2-5b6d-403d-b571-fb5a0c7832ac\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\u00a0 IN THE UNITED STATES. \u200e CALGARY, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Exro Technologies Inc. (TSXV: EXRO) (&#8220;Exro&#8221; or the &#8220;Company&#8220;) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec, in connection with a marketed public offering (the \u201cOffering\u201d) of \u200e common shares (the \u201cShares\u201d) of the Company. Final pricing and the determination of the maximum number of Common Shares to be sold \u200epursuant to the Offering will be determined in the context of the market prior to the filing of the final short form \u200eprospectus in respect &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388114","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\u00a0 IN THE UNITED STATES. \u200e CALGARY, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Exro Technologies Inc. (TSXV: EXRO) (&#8220;Exro&#8221; or the &#8220;Company&#8220;) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec, in connection with a marketed public offering (the \u201cOffering\u201d) of \u200e common shares (the \u201cShares\u201d) of the Company. Final pricing and the determination of the maximum number of Common Shares to be sold \u200epursuant to the Offering will be determined in the context of the market prior to the filing of the final short form \u200eprospectus in respect &hellip; Continue reading &quot;Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T21:25:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTg2NSMzODQyOTQzIzUwMDA3NTkyMA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities\",\"datePublished\":\"2020-11-24T21:25:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/\"},\"wordCount\":1058,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5MTg2NSMzODQyOTQzIzUwMDA3NTkyMA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\\\/\",\"name\":\"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/","og_locale":"en_US","og_type":"article","og_title":"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities - Market Newsdesk","og_description":"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\u00a0 IN THE UNITED STATES. \u200e CALGARY, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) &#8212; Exro Technologies Inc. (TSXV: EXRO) (&#8220;Exro&#8221; or the &#8220;Company&#8220;) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec, in connection with a marketed public offering (the \u201cOffering\u201d) of \u200e common shares (the \u201cShares\u201d) of the Company. Final pricing and the determination of the maximum number of Common Shares to be sold \u200epursuant to the Offering will be determined in the context of the market prior to the filing of the final short form \u200eprospectus in respect &hellip; Continue reading \"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-24T21:25:01+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTg2NSMzODQyOTQzIzUwMDA3NTkyMA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities","datePublished":"2020-11-24T21:25:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/"},"wordCount":1058,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MTg2NSMzODQyOTQzIzUwMDA3NTkyMA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/exro-announces-public-offering-of-common-shares-co-led-by-raymond-james-and-gravitas-securities\/","name":"Exro Announces Public Offering of Common Shares Co-Led by Raymond James and Gravitas Securities - 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