SusGlobal Acquires Additional 2.03 Acres, Elevating Hamilton Toronto, Ontario--(Newsfile Corp. - July 18, 2023) - SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal") or (the "Company"), an environmental, agricultural, and industrial biotechnology and renewables company, is making waves with its latest strategic move. Today, the Company's wholly owned subsidiary, SusGlobal Energy Canada I Ltd. ("SusGlobal Canada I"), proudly announces the signing of a ground-breaking Agreement of Purchase and Sale dated June 15, 2023. This agreement secures the acquisition of 2.03 acres of prime M5 Industrial Lands, located at 490 Nash Road North, in Hamilton, Ontario, adjacent to the Company's existing 3.26-acre site and facility. The Company believes the purchase marks a monumental step forward for SusGlobal as it merges the lands for a total 5.29-acre licensed site and solidifies its position as a leader in the organic waste processing and fertilizer production industry.
By leveraging its Environmental Compliance Approval ("ECA") to process a staggering 65,884 metric tonnes per annum of organic waste, SusGlobal is paving the way for what the Company believes are revolutionary advancements in sustainable agriculture. The Company has demonstrated its commitment to cutting-edge technology with the development of SusGro™, an unrivaled pathogen-free organic liquid fertilizer. The acquisition of this additional property will provide the space needed to manufacture, distribute, and store SusGro™, as well as other top-quality products available through private label arrangements. The Company believes these offerings will find their way to big box retailers, consumer lawn and garden suppliers, and industries such as wine, cannabis, agriculture, and golf.
In an exciting development, the expanded Hamilton facility will also include an impressive 10,000 square feet of state-of-the-art R&D labs and office space. With a total area of approximately 50,000 square feet, this facility will serve as the hub for SusGlobal's ongoing development of proprietary formulations and branded products. By investing in cutting-edge research and innovation, SusGlobal solidifies its commitment to delivering ground-breaking solutions that drive sustainable change.
Colliers International Realty Advisors Inc. ("Colliers") at the Company's request, carried out an analysis of the property to estimate its prospective market value. Based on their opinion the market value "As Complete" of the fee simple interest in the property as of June 2, 2023, is estimated at US$14,222,000 (CA$18,750,000). The value estimate is based on an exposure period of six months or less, assuming the basis of a transaction involving cash to the vendor and is in conjunction with the Assumptions and Limiting Conditions stated within the appraisal. The report describes the methods and approaches to value in support of the above conclusion, and contains the pertinent data gathered in their investigation of the market.
Marc Hazout, the President and CEO of SusGlobal, expressed his enthusiasm about the acquisition, stating, "We are thrilled to have secured these additional lands, merging them with our existing Hamilton site and prestigious ECA. SusGlobal solidifies its position as a reliable partner for its municipal clients, ready to meet the growing demands of waste management and organic processing, while ensuring enhanced capacity for Hamilton's expanding green bin program. As municipalities strive to implement sustainable practices, SusGlobal stands at the forefront, providing vital solutions that align with environmental goals and regulatory requirements. Furthermore, the proximity of our Hamilton facility to the City of Hamilton's Kenora Transfer Station enhances logistical efficiency, egress, and future Biogas expansion possibilities. Through this acquisition, we position ourselves for enhanced commercialization and distribution, enabling possible substantial growth in revenue and cash flows derived from fertilizer sales, tipping fees, and the lucrative monetization of carbon credits. SusGlobal is proudly spearheading the way as Leaders in The Circular Economy®."
https://www.newsfilecorp.com/release/173775/SusGlobal-Acquires-Additional-2.03-Acres-Elevating-Hamilton-Organic-Waste-Processing-and-Fertilizer-Production-Site