Exro Technologies Inc. and SEA Electric Inc. announced that they have entered into an agreement providing for the acquisition of SEA by Exro. This business combination is expected to strengthen Exro's technology offerings while accelerating revenue growth and Exro's path to profitability. Following completion of the Transaction, the combined company will continue to operate under the name Exro Technologies Inc. and trade on the Toronto Stock Exchange under the ticker symbol "EXRO".

Upon completion of the Transaction, Darrell Bishop will become Chief Financial Officer.