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CALGARY, Alberta, September 1, 2022 (GLOBE NEWSWIRE) — Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the “company” or “exro‘), a leading clean technology company that has developed industry-disruptive, next-generation power electronics that expand the capabilities of electric motors and batteries, today announced that it has completed its previously announced public offering through a broker (the ‘offer“). Pursuant to the Offer, Exro sold 7,920,000 units (“units’) at a price of $1.05 per unit (the ‘issue price’) for total gross proceeds of $8,316,000. Each Unit consists of one common share of the Company (each a “common share‘) and a share purchase warrant of the Company (each a ‘warranty’), which entitles its holder, subject to adjustment under certain circumstances, to purchase one additional common share at an exercise price of $1.36 for a period of 48 months after the closing of the Offering (the ‘Deadline‘), provided that at any time after the Closing Date the closing price of the Common Shares on the Toronto Stock Exchange (the ‘TSX’) or other exchange on which the majority of trading volume occurs, exceeds or equals $2.72 per common share (on a volume weighted adjusted basis) for any period of twenty (20) consecutive trading days, the Company may, in its sole discretion elect to advance the expiration date of the Warrants to a date which is 30 calendar days after the date of the Company’s issuance of a press release announcing that it has exercised this preferential right. The Warrants are subject to the terms of an option contract (the “contract‘) dated September 1, 2022 between the Company and Computershare Trust Company of Canada as Warrant Agent, a copy of which will be available under the Company’s profile on SEDAR at www.sedar.com. For more details on the Warrants, please refer to the…