VANCOUVER, BC / ACCESSWIRE / July 27, 2024 / Loop Energy™ Inc. ("Loop" or the "Company") (TSX:LPEN) today announced that following a delisting review by the Toronto Stock Exchange (the "TSX"), the Company's common shares (the "Shares") will be delisted from the TSX effective close of market on September 3, 2024 delisting date (the "Delisting Date").
Trading of the Shares on the TSX has been suspended since July 18, 2024, as a result of the Company filing a notice of intention to make a proposal under the Bankruptcy and Insolvency Act (Canada) (the "BIA"). The current suspension in the trading of the Shares will be maintained.
The Shares are also quoted on the OTC Pink Market. Due to the risks and uncertainties resulting from the BIA proceedings, trading in the Shares during the pendency of the BIA proceedings poses substantial risks and there is no assurance that the Shares will continue to be quoted on the OTC Pink Market.
Forward Looking Warning
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections regarding future events. Forward looking information includes but is not limited to ongoing quotation and uncertainties resulting from the BIA proceedings. Forward-looking information is based on a number of assumptions, including without limitation assumptions with respect to negotiations with third parties and the extent of its financial resources, and is subject to a number of risks and uncertainties, many of which are beyond the Company's control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. These risks include the failure to conclude a sale or financing transaction with a third party and the risk that the Company will exhaust its financial resources as well as the other risk factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 21, 2024 and in its other disclosure documents. Loop Energy disclaims any obligation to update these forward-looking statements.
Loop Energy Investor and Media Inquiries:
Paul Cataford | [email protected]
SOURCE: Loop Energy Inc