Loop Energy Announces 2023 Financial Results and H2P Merger

Loop Energy, Inc. (TSE:LPEN) has released an update.

Loop Energy™, a Canadian firm, has reported its 2023 financial year results with revenues at $2.1 million, a decrease from the previous year, and a net loss of $34.2 million, albeit lower than 2022’s $37.5 million loss. The company also highlighted a strategic amalgamation agreement with H2P Portable Power Corp., which includes a potential $15 million financing and operational synergies. This move, coupled with an upcoming shareholder meeting to vote on the amalgamation, signals a significant shift in the company’s strategic direction.

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