Loop Industries Inc V.LOOP

Primary Symbol: LOOP

Industrials Waste Management

Loop Industries, Inc. is a clean technology company. The Company owns patented technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling its customers to meet their sustainability objectives. Its Loop PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. The Company's Infinite Loop provides an end-to-end industrial solution to supply the global demand for Loop PET resin made from 100% recycled content.

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Loop Industries Inc

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Post by GoodLuck14on Mar 04, 2020 11:51am

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Post# 30765633

LOOPShare Obtains Inventory Financing for Scoot-E-Bikes (R)

Vancouver, British Columbia--(Newsfile Corp. - March 4, 2020) - LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF) (FSE: 3KZ) ("LOOPShare" or the "Company") is pleased to announce that is has obtained $300,000 in inventory financing for the purposes of purchasing Scoot-E-Bike® units for resale. The Scoot-E-Bike® is available for sale on the website www.Scootebike.ca. and in select London Drugs locations. This inventory financing will allow the Company to significantly increase its inventory of Scoot-E-Bikes® to support strong initial sales demand.

Figure 1: Scoot-E-Bike®

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4789/53122_fe3f8a7f9490daef_002full.jpg

The inventory financing will come from an arm's length third party lender (the "Lender") in the form of newly issued convertible debentures (the "Debentures") with a principal amount of $300,000. The terms of the Debentures include:

a maturity date of one year from the date of closing (the "Maturity Date") and the principal amount, together with any accrued and unpaid interest, will be payable on the Maturity Date, unless earlier converted in accordance with their terms;

the Debentures bear interest (the "Interest") at the rate of 10% per annum, which Interest will be payable on the Maturity Date, unless earlier converted;

the principal amount of the Debenture is convertible into class A common shares of the Company (each, a "Share") at the option of the holder at a conversion price of $0.50 per Share;

an aggregate of 600,000 detachable share purchase warrants (each a "Warrant") are issuable to the Lender. Each Warrant is exercisable into one additional Share (each, a "Warrant Share") at an exercise price of $0.50 per Warrant Share for a period of one year from the date of closing;

the accrued and unpaid Interest is convertible into Shares at a conversion price equal to the Market Price (as such term is defined in the Policies of the TSX Venture Exchange (the "Exchange")), at the time of such conversion;