UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 2.01. Completion of Acquisition or Disposition of Assets.
As previously disclosed in Loop Industries, Inc.’s (the “Company”) Current Report on Form 8-K filed on December 22, 2022, Loop Canada Inc. (“Loop Canada”), a wholly-owned subsidiary of the Company, entered into an agreement (the “Agreement”) for the sale of the entirety of the remaining land owned by Loop Canada in Bécancour, Québec (the “Transaction”).
The Transaction closed on February 22, 2023, and the buyer paid the CDN $18.5 million purchase price. The cost of the deed of sale, transfer tax and registration were paid by the buyer. There were no Transaction commissions paid.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2023.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: February 27, 2023 | By: | /s/ Daniel Solomita |
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| Daniel Solomita |
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| President and Chief Executive Officer |
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