Brief: Loop Energy, H2 Portable Power Corp Entered Into Amalgamation Agreement

Loop Energy

12/02/2024 12:31

Feb 12 (Reuters) - Loop Energy Inc  LPEN.TO :
    * LOOP ENERGY INC: CO, H2 PORTABLE POWER CORP ENTERED INTO
AMALGAMATION AGREEMENT
    * LOOP ENERGY INC: TRANSACTION WILL CONSTITUTE A BACKDOOR
LISTING
OF H2P  UNDER TORONTO STOCK EXCHANGE POLICIES
    * LOOP ENERGY: EXISTING SHAREHOLDERS OF CO TO OWN ABOUT
9.0-9.6%,
EXISTING SHAREHOLDERS OF H2P TO OWN ABOUT 60.5-62.0% OF COMBINED
ENTITY SHARES
    * LOOP ENERGY: H2P TO PROVIDE LOOP $2 MILLION IN FUNDING IN
FEB
THROUGH PURCHASE OF $0.5 MILLION OF CERTAIN FIXED ASSETS AND
INVENTORY OF CO
    * LOOP ENERGY INC: INVESTORS IN CONCURRENT FINANCING ARE
EXPECTED
TO OWN 28.4%-30.5% OF COMBINED ENTITY SHARES ON A FULLY DILUTED
BASIS

Further company coverage:  LPEN.TO 

 ((Reuters.Briefs@thomsonreuters.com;))