diff --git a/Makefile b/Makefile
index cd7330a259..7c3907264b 100644
--- a/Makefile
+++ b/Makefile
@@ -129,10 +129,10 @@ GO_APIDIFF_BIN := go-apidiff
 GO_APIDIFF := $(abspath $(TOOLS_BIN_DIR)/$(GO_APIDIFF_BIN)-$(GO_APIDIFF_VER))
 GO_APIDIFF_PKG := github.com/joelanford/go-apidiff
 
-KPROMO_VER := v3.6.0
+KPROMO_VER := v4.0.4
 KPROMO_BIN := kpromo
 KPROMO :=  $(abspath $(TOOLS_BIN_DIR)/$(KPROMO_BIN)-$(KPROMO_VER))
-KPROMO_PKG := sigs.k8s.io/promo-tools/v3/cmd/kpromo
+KPROMO_PKG := sigs.k8s.io/promo-tools/v4/cmd/kpromo
 
 YQ_VER := v4.25.2
 YQ_BIN := yq
@@ -578,11 +578,12 @@ release-alias-tag: ## Add the release alias tag to the last build tag
 
 .PHONY: generate-release-notes
 generate-release-notes: $(RELEASE_NOTES_DIR) $(RELEASE_NOTES)
+	# Reset the file
+	echo -n > $(RELEASE_NOTES_DIR)/$(RELEASE_TAG).md
 	if [ -n "${PRE_RELEASE}" ]; then \
-	echo ":rotating_light: This is a RELEASE CANDIDATE. Use it only for testing purposes. If you find any bugs, file an [issue](https://github.com/kubernetes-sigs/cluster-api/issues/new)." > $(RELEASE_NOTES_DIR)/$(RELEASE_TAG).md; \
-	else \
-	"$(RELEASE_NOTES)" --from=$(PREVIOUS_TAG) --prefix-area-label=false --add-kubernetes-version-support=false > $(RELEASE_NOTES_DIR)/$(RELEASE_TAG).md; \
+	echo -e ":rotating_light: This is a RELEASE CANDIDATE. Use it only for testing purposes. If you find any bugs, file an [issue](https://github.com/kubernetes-sigs/cluster-api-provider-vsphere/issues/new/choose).\n" >> $(RELEASE_NOTES_DIR)/$(RELEASE_TAG).md; \
 	fi
+	"$(RELEASE_NOTES)" --from=$(PREVIOUS_TAG) --prefix-area-label=false --add-kubernetes-version-support=false >> $(RELEASE_NOTES_DIR)/$(RELEASE_TAG).md
 
 .PHONY: promote-images
 promote-images: $(KPROMO)
@@ -748,10 +749,10 @@ $(SETUP_ENVTEST): # Build setup-envtest.
 	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(SETUP_ENVTEST_PKG) $(SETUP_ENVTEST_BIN) $(SETUP_ENVTEST_VER)
 
 $(KPROMO):
-	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(KPROMO_PKG) $(KPROMO_BIN) ${KPROMO_VER}
+	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(KPROMO_PKG) $(KPROMO_BIN) $(KPROMO_VER)
 
 $(YQ):
-	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(YQ_PKG) $(YQ_BIN) ${YQ_VER}
+	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(YQ_PKG) $(YQ_BIN) $(YQ_VER)
 
 $(GINKGO): # Build ginkgo.
 	GOBIN=$(TOOLS_BIN_DIR) $(GO_INSTALL) $(GINKGO_PKG) $(GINKGO_BIN) $(GINGKO_VER)