Exro Technologies Inc. (CSE: XRO) (the 'Company' or 'Exro') is pleased to announce that due to investor demand, it is increasing the size of its previously announced offering (the 'Offering') of units of the Company ('Units') from Cdn $5,000,000 to Cdn $8,000,000.

Exro filed a preliminary short form prospectus (the 'Prospectus') with respect to the Offering on June 23, 2020.

Each Unit will be offered at a price of $0.70 per Unit for gross proceeds of up to Cdn $8,000,000. Each Unit will consist of one common share of the Company (a 'Unit Share') and one-half of a common share purchase warrant (each whole common share purchase warrant, a 'Warrant'). Each Warrant will entitle the holder to purchase one common share of the Company (a 'Warrant Share') at a price of $0.90 per Warrant Share for a period of 24 months following the closing of the Offering, subject to certain acceleration rights of the Company. The Offering is being conducted on a commercially reasonable efforts basis by Gravitas Securities Inc. (the 'Agent') in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario (the 'Offering Jurisdictions'). There is no over-allotment option for the Agents to increase the size of the Offering. The net proceeds from the Offering will be used for further research and development of the Company's intelligent battery management system, micro, light and commercial electric vehicle programs, marketing, capital investments and general working capital requirements. Proceeds from the additional increase in the Offering will be added to general working capital requirements. The Company has applied to list the Unit Shares and the Warrant Shares on the Canadian Securities Exchange (the 'CSE'). There is no established trading market for the Warrants and the Company does not expect a market to develop. A copy of the Prospectus is available under the Company's profile at www.sedar.com or by request to Gravitas Securities Inc. at vancouvergsiib@gravitassecurities.com. The Offering is subject to certain customary conditionsincluding, but not limited to, the receipt of all necessary approvals, including the approval of the CSE and the issuance of a receipt for the Company's final prospectus by each of the securities commissions of the Offering Jurisdictions.

Contact:

Tel: (877) 944-3976

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