GreenPower Announces Grant of Stock Options

VANCOUVER, BC--(Marketwired - February 03, 2017) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQB: GPVRF) (the "Company"), announces that the Company has granted an aggregate of 715,000 incentive stock options to certain directors, officers, employees and consultants of the Company which stock options are exercisable for a period of five years at a price of $0.75 per share. The 548,000 stock options granted to the directors and officers vest as to 25% four months after the grant date, 25% six months after the grant date, 25% nine months after the grant date and 25% one year after the grant date and the 167,000 stock options granted to employees and consultants vest as to 25% four months after the grant date, 25% one year after the grant date, 25% two years after the grant date and 25% three years after the grant date.

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. GreenPower's bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower integrates global suppliers for key components such as Siemens for the two 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

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© 2017 GreenPower Motor Company Inc. All rights reserved.