Exro Technologies (EXROF) Update - Dec 15

[dan_s]

Exro hosted a luncheon in Houston for us over a year ago. I was impressed by the CEO and the other members of the management team that attended. On August 25, 2020 Exro hosted a webinar for us that has now been viewed by over 1,500. They have added to the team, moved to Calgary and they have several very promising joint development partnerships going today that should generate steady revenues in the future. The share price is up more than 300% since the webinar. Yesterday, the company announced the closing of a common stock offering that shores up the balance sheet.

Exro's technology improves performance with less energy in electric vehicles.
Here is the link to the August 25 webinar replay: https://www.youtube.com/watch?v=i31mAas ... e=emb_logo

About Exro Technologies Inc.

Exro is a Clean Tech company that has developed a new class of control technology for electric powertrains. Exro's advanced motor control technology, our "Coil Driver", expands 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.

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.

For more information visit our website at www.exro.com.

Exro Announces Closing of Cdn $42 Million Prospectus Offering of Common Shares
Mon, December 14, 2020, 7:43 AM CST

Exro closes marketed public offering of common shares issuing 12,915,384 shares at a price of $3.25 per share for gross proceeds of Cdn $41,974,998.

The net proceeds will be used for battery research and development, electric vehicle programs, marketing, capital investments and general working capital.

CALGARY, AB, Dec. 14, 2020 /CNW/ - Exro Technologies Inc. (TSXV: EXRO) (the "Company" or "Exro") is pleased to announce the closing of its marketed public offering (the "Offering") of common shares (the "Shares") pursuant to which the Company issued 12,915,384 Shares at a price of $3.25 per Share for gross proceeds of Cdn $41,974,998.