OTCQB:SNRG - Post by User
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AveragePennyon Apr 19, 2022 11:47am
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SusGlobal Energy Corp. Reports Fourth Quarter and Full Year
SusGlobal Energy Corp. Reports Fourth Quarter and Full Year Recent Highlights
- On August 17, 2021, the Company purchased through its wholly-owned subsidiary, SusGlobal Energy Canada I Ltd. ("SusGlobal Canada I"), a 40,535 square foot facility on 3.26 acres (the "Property") located at 520 Nash Road North, in Hamilton, Ontario, which includes Environmental Compliance Approvals (the "ECAs") to process 65,884 metric tonnes per annum of organic waste. The total purchase price including costs of acquisition of $175,615 (C$221,680) totaled $3,590,773 (C$4,532,633). The purchase of the Property was funded by cash of $396,364 (C$500,333), the issuance of 300,000 common shares to the vendor on closing, having a value based on the trading price on the issuance date of $84,781 (C$107,020), the issuance of 200,000 common shares valued based on the trading price on the issuance date at $56,621 (C$71,347) to a consultant who assisted on the closing of the transaction, a vendor take-back 1st. mortgage of $1,584,400 (C$2,000,000) and a portion of the increased existing 1st. mortgage of $1,468,686 (C$1,853,933).The cost of the purchase price was allocated rateably over the estimated fair value of each asset acquired, land of $1,724,979 (C$2,177,442), building $1,556,002 (C$1,964,141) and the balance to the ECAs acquired.
- On August 19, 2021, the Company retained the award-winning firm ZAS Architects to design and develop its recently purchased Hamilton facility. The facility will be designed using Building Information Modelling (BIM) with advanced visualization, energy modelling and a high level of technical detailing to ensure building durability. In addition to processing organic waste as mentioned in the above paragraph, the facility will be able to produce, distribute and warehouse the Company's SusGro™ organic liquid fertilizer and other products that are provided under private label and sold through big box retailers, consumer lawn and garden suppliers, and for end use to the wine, cannabis and agriculture industries. With the addition of 11,000 square feet of office space and R&D labs, the Hamilton facility will also house the continued development of SusGlobal's proprietary formulations and branded liquid and dry organic fertilizers and other complimentary products.
- On August 24, 2021, the Company announced it is the recipient of the "2021 Product Innovation Award in the Fertilizer Market" awarded by Lucintel for the Company's SusGro™ Organic Liquid Fertilizer which serves the $20 billion organic segment of the $200 billion global fertilizer market. The award marks the most recent for SusGlobal, Leaders in The Circular Economy®, which has also been recognized by The Finnish Innovation Fund Sitra ("Sitra") as one of 39 inspiring circular economy solutions from around the globe during the World Circular Economy Forum. Lucintel chose SusGlobal for this award because of its novel product, a concentrated organic pathogen-free liquid fertilizer. SusGro™ Organic Liquid Fertilizer is an economical, sustainable and highly effective alternative to traditional fertilizers, as it adds nutrients to the soil improving water retention, soil fertility, and pore space to enhance crop productivity and produce healthy plants. With a full complement of nutrients suitable for a wide range of fertilization requirements, SusGro™'s Nitrogen, Phosphorus and Potassium ("NPK") Value is modifiable with a high concentration ratio of 1:100.