Loop Industries' India JV acquires ~93 acres for Infinite Loop facility in Gujarat

Loop Industries, Inc.

India JV (50% owned by Loop) agreed to buy ~93 acres in Gujarat for development of Infinite Loop™ manufacturing facility.
Purchase price: 9,072,000 INR (~$103,720) per acre; advance payments secured by equitable mortgages.
Sellers must complete title transfer and obtain government approvals within 5 months, subject to extension by India JV.
India JV has right to reject parcels lacking approvals, and to terminate with full refund if land not contiguous or other defaults.
Project advances Loop's depolymerization technology for PET plastic recycling infrastructure.

item 8.01

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