SusGlobal Sells Hamilton Properties to Fund Belleville Facility Restart
SNRG sits 81% above its 52-week low of $0.013.
Summary
SusGlobal completed the sale of its 5.29-acre Hamilton industrial property, with proceeds earmarked to refurbish and recommission its Belleville organic waste processing facility. This follows yesterday's 10-K and 10-Q filings that revealed zero Q1 revenue, a $41.2M working capital deficit, and all debt in default. The sale provides a cash infusion to restart operations at Belleville, which has been shut since January 2024, and could return the company to revenue generation. The transaction is a concrete step toward addressing the going concern warning, though the amount of proceeds was not disclosed.
At the time of this announcement, SNRG was trading at $0.02 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $3.3M. The 52-week trading range was $0.01 to $0.08. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.