Loop Industries FY2022 net loss widens to $44.9M; legal settlement and joint venture loss weigh

Loop Industries, Inc.

Net loss of $44.9M for FY2022 vs $36.3M prior year; Q4 net loss $14.3M; no revenue.
Recorded $2.52M contingency loss for class action settlement and $1.12M loss from Indorama joint venture.
Completed Terrebonne facility upgrades; multi-year supply agreement with Danone and supply deal with On AG.
Basic Design Package and Class 3 estimate completed for Infinite Loop™; Bécancour site prep done; seeking financing.
Cash and equivalents $44.1M; weighted average shares 45.3M.

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