other material
confidence high
sentiment neutral
materiality 0.45
Loop subsidiary sells ~10.3M sq ft excess land in Bécancour for CDN $12M
Loop Industries, Inc.
- Loop Canada agrees to sell 10,333,838 sq ft of excess land to Quebec Inc. for CDN $12.0M.
- Buyer paid CDN $100,000 deposit; balance due at closing; due diligence period expired Aug 17, 2022.
- Loop Canada retains ~6.0M sq ft of additional excess land still available for sale.
- Proceeds from sale will provide cash for Loop's planned Infinite Loop facility construction.