secwatch.observer — SEC 8-K summary
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Issuer:     Loop Industries, Inc. (LOOP)
CIK:        0001504678
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001654954-22-010116
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Loop Industries enters $2.7M credit facility with CIBC; VP Engineering resigns
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- Credit facility up to $2.7M principal, two-year term, secured by Terrebonne property.
- Borrowings bear interest at prime rate plus 1.0%; minimum equity covenant tested quarterly.
- No amounts drawn as of filing date; proceeds intended for general corporate purposes.
- Yves Perron resigns as VP Engineering & Construction effective July 29, 2022.
- No replacement planned; responsibilities assumed by project team leads.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504678/000165495422010116/0001654954-22-010116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504678/000165495422010116/loop_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-010116

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer