SusGlobal Energy issues $2M convertible notes with 25% OID, netting ~$1.5M

SusGlobal Energy Corp.

Entered into SPAs for $2M principal of 25% OID convertible notes; net proceeds ~$1.5M after $500K OID.
Notes mature June 3, 2022 or upon a Liquidity Event; convertible at 30% discount to offering price in a public offering.
Issued 95,000 restricted shares and $60,000 cash to a consultant related to an investor.
Proceeds for general working capital; Spartan Capital and Revere Securities acted as placement agents.
Notes carry 24% default interest and conversion price reset on default.

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