EXHIBIT 10.53
GREENPOWER MOTOR Co INC.
LOAN AGREEMENT
**THIS LOAN AGREEMENT **(this "Agreement") is dated effective as of the 6th day of January, 2026.
BETWEEN:
COUNTRYMAN INVESTMENTS LTD., a corporation having an address at #
(Email: #)
(the "Lender")
AND:
GREENPOWER MOTOR COMPANY INC., a corporation having an address at
#
(Email: #)
(the "Borrower")
WHEREAS:
A. The Borrower intends to borrow up to USD $5,000,000 from two lenders (the "Loan Facility") with the Lender participating in the first tranche of the Loan Facility pursuant to this Agreement;
B. The Lender has agreed to provide a loan in the principal amount of USD $2,500,000 (the "Principal Amount") to the Company in accordance with the terms and conditions of this Agreement; and
C. The Borrower wishes to borrow monies from the Lender on the terms and conditions set forth in this Agreement.
D. The proceeds of the Loan will be applied towards the repayment of the Borrower's operating line of credit with the Bank of Montreal (the "Purpose").
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