SusGlobal Energy Corp. (SNRG): debt financing — SusGlobal Energy receives default notice on $4.9M promissory notes due to conversion failure

SusGlobal Energy Corp.

New default notice on June 8, 2023 because holders could not receive common shares under conversion terms.
Total owed: $4,892,946, comprising $1.3M (Oct 2021 note), $3.168M (March 2022 notes), and $424,946 accrued interest.
Cure periods have expired; notes are past due and in default.
Prior August 2022 default was cured by amendment in September 2022; current default remains uncured.

item 2.04

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SusGlobal Energy Corp. reported a default on loan of $4,892,946 with holders of the Promissory Notes maturing past due.

Instrument: loan
Principal: $4,892,946
Counterparty: holders of the Promissory Notes
Maturity: past due
Event: default

Exact text from the filing

March 7, 2022 promissory notes now have a total principal amount of $3,168,000 and the interest that has accrued on such notes is equal to $424,946. The Company owes a total of $4,892,946 pursuant to the Promissory Notes. Each of the three promissory notes is now past due. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the

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Source: SEC EDGAR

accession 0001062993-23-013567

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