|TORONTO, ON / ACCESSWIRE / January 25, 2021 / SusGlobal Energy Corp. (“SusGlobal” or the “Company”) (OTCQB: SNRG), the developer of SusGro™, a revolutionary pathogen free organic liquid fertilizer, today announced it has signed payoff agreements for all its outstanding convertible notes totaling US$1.52 Million. Certain notes were paid from proceeds of a loan and a direct equity investment from Travellers International Inc., a company controlled by the Company’s Executive Chairman, President and CEO.|
“These convertible note payoff agreements represent a significant milestone for SusGlobal, as now for the first time in two years we are not encumbered by structured financing,” stated Marc Hazout, Executive Chairman, President and CEO of SusGlobal Energy Corp. “Since the US$1.52 Million in notes were not converted into shares under the original terms, we were also able to avoid substantial dilution to our shareholders.”
“Given our outlook for growth in 2021 and the rapidly improving fundamentals of the business,” continued Hazout, “we are in a position where we hopefully can fund our growth from cash flow from operations or from capital sources with a longer-term investment horizon.”
The payoff of convertible notes will allow the Company to strengthen its balance sheet as it executes on its plans and expects that it will provide further support for the Company’s plans to seek to uplist onto the NASDAQ exchange.
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, a revolutionary pathogen free organic liquid fertilizer is a renewables company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative products applications globally. It is management’s objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company’s website at: www.susglobalenergy.com
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s objectives. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company’s ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company’s ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.
SusGlobal Energy Corp.
Marc Hazout, President and CEO
(416) 223-8500 or Toll Free: 1-866-512-7374
SOURCE: SusGlobal Energy Corp.