---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-23-008345"
form_type: "8-K"
ticker: "SNRG"
cik: "0001652539"
company_name: "SusGlobal Energy Corp."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:02:34.281303+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SusGlobal Energy settles $3.8M debt via escrow for ~$1.1M, eliminating Alterna obligations

## Summary
- Owed $3,812,765 (CAD$5,195,274) to Alterna; deposited $917,364 (CAD$1,250,000) plus a $203,164 (CAD$276,831) letter of credit into escrow.
- Upon release, Alterna will cancel all security and guarantees from Ike Makrimichalos, Marc Hazout, and Haute Inc.
- Mutual release and indemnity deposited; debt fully discharged once MOE releases Alterna's letter of credit.
- Reduces total indebtedness by approximately $2.7M, improving balance sheet and removing creditor claims.

## SEC filing metadata
- accession: 0001062993-23-008345
- form_type: 8-K
- ticker: SNRG
- cik: 0001652539
- company_name: SusGlobal Energy Corp.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1652539/000106299323008345/0001062993-23-008345-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1652539/000106299323008345/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-23-008345
- JSON: https://secwatch.observer/filing/0001062993-23-008345.json
- Plain text: https://secwatch.observer/filing/0001062993-23-008345.txt

## Key facts
- Material Agreements
  SusGlobal Energy Corp. entered into Release Agreement with Alterna (effective 2023-03-28).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Alterna
  - Effective: 2023-03-28
  source text: The mutual release agreement deposited into escrow provides for a full and final mutual release (the "Release Agreement").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1652539/000106299323008345/0001062993-23-008345-index.htm
- Material Agreements
  SusGlobal Energy Corp. entered into Escrow Agreement valued at $917,364 (CAD$1,250,000) (effective 2023-03-28).
  - Action: entry
  - Value: $917,364 (CAD$1,250,000)
  - Effective: 2023-03-28
  source text: On March 28, 2023, the Company entered into an escrow agreement, dated March 28, 2023, (the "Escrow Agreement") with a third-party escrow agent (the "Escrow Agent") to facilitate the discharge in full of its indebtedness to Alterna.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1652539/000106299323008345/0001062993-23-008345-index.htm
- Material Agreements
  SusGlobal Energy Corp. entered into Indemnity Agreement with PACE (effective 2023-03-28).
  - Action: entry
  - Agreement: lease
  - Counterparty: PACE
  - Effective: 2023-03-28
  source text: Alterna and the Borrowers have entered into an Indemnity Agreement, dated March 28, 2023, under which the Borrowers agree to indemnify, defend, and hold PACE harmless from any claims, damages, or liabilities made by certain parties that may arise in connection with the Release Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1652539/000106299323008345/0001062993-23-008345-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.