Loop Energy Announces Ability to Engage Potential New Counterparties.
Loop Energy™ Inc. (“Loop” or the “Company”) (TSX: LPEN) today reported that all provisions relating to the Company’s ability to solicit and consider alternative bids in the Amalgamation Agreement (the “Amalgamation Agreement”) between Loop, H2 Portable Power Corp. (“H2P”) and 1465123 B.C. Ltd. dated February 9th, 2024 have been waived by H2P allowing the Company to reach out to and consider alternative bids from new counterparties without consequences.
As outlined in the Amalgamation Agreement which is posted on SEDAR+, the outside date to complete the transaction with H2P is April 30, 2024 (the “Outside Date”) and as Loop previously disclosed, the transaction with H2P cannot be completed without an amendment. As at the date of this announcement, no amendment has been proposed or agreed to. Accordingly, there can be no assurance that such transaction or a similar transaction, will be completed on or prior to the Outside Date.
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Loop Energy Announces Ability to Engage Potential New Counterparties. source
