SusGlobal Energy Corp. (SNRG): debt financing — SusGlobal Energy extends two promissory notes, issues 1.62M shares as consideration

On December 29, 2022, the Company and the investor agreed to extend the maturity date to the earlier of June 23, 2023 or the listing of the Company's common stock on a national securities exchange. In consideration for the extension of the maturity date, the Company agreed to: (i) increase the principal amount to $1,320,000.00 (the "Increased Principal Amount");

On December 22, 2022, the Company and the investor agreed to extend the maturity date to the earlier of July 28, 2023 or the occurrence of a Liquidity Event.

(the "Company") issued a promissory note on October 28, 2021 to an investor (the "October 2021 Note"). The October 2021 Note was in the principal amount of $294,118 and had a maturity date of the earlier of July 28, 2022 or the listing of the Company's common stock on a national securities exchange in connection with a public offering (a "Liquidity Event").

On December 22, 2022, the Company and the investor agreed to extend the maturity date to the earlier of July 28, 2023 or the occurrence of a Liquidity Event. In addition, the Company agreed that the investor could convert the October 2021 Note into shares of the Company's common stock at any time at the investor's option. Previously, the October 2021 Note was only convertible upon the occurrence of the Liquidity Event. The Company also agreed to change the conversion price to be the lowest trading bid price of the Company's common stock on the trading day immediately prior to the conversion date multiplied with a 35% discount to that lowest price. Previously, the conversion price was a 30% discount to the price at which the securities were sold in connection with the Liquidity Event. In consideration for the extension of the maturity date, the Company agreed to issue the investor 500,000 shares of the Company's common stock.