Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe

Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe

REED SOCIETE GENERALE GROUP INVESTS €10 MILLION IN LOOP VIA A CONVERTIBLE PREFERRED SECURITY AT A $4.75 CONVERSION PRICE.LOOP COMPLETES ITS INAUGURAL SALE OF AN INFINITE LOOP™ TECHNOLOGY LICENSE, GENERATING AN UPFRONT PAYMENT OF €10 MILLION.FORMATION OF A EUROPEAN PARTNERSHIP TO DEPLOY INFINITE LOOP™ MANUFACTURING TECHNOLOGY.PROCEEDS TO SUPPORT CONSTRUCTION OF THE INFINITE LOOP™ FACILITY IN INDIA AND FINANCE LOOP’S OPERATIONAL CASH REQUIREMENTS.LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET on December 13…
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