Loop Industries amends share purchase agreement with Reed; €10M convertible preferred, €10M license royalty

Loop Industries, Inc.

Sale of convertible preferred stock to Loop Europe for €10M gross proceeds.
Loop Europe will issue €10M corporate bonds to Reed simultaneously.
Loop Europe to pay Loop €10M first royalty tranche under license agreement.
New French JV Loop Europe to be owned 90% by Reed, 10% by Loop.
Closing expected within seven business days after incorporation of Loop Europe.

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