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CALGARY, AB, Sept. 13, 2024 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, is pleased to announce that it has completed its previously announced public offering (the "Offering") for a total of 71,429,000 units ("Units") of the Company, at a price of $0.35 per Unit for aggregate gross proceeds of approximately $25.0 million. Each Unit consists of one (1) common share of the Company (a "Share") and one-half of one (1/2) Share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable to acquire one (1) additional Share (a "Warrant Share") at a price of $0.42 per Warrant Share for 36 months. The Warrants will be listed on the TSX under the trading symbol 'EXRO.WT.A' at market open.
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