Loop Energy, Inc. (TSE:LPEN) has released an update.
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Loop Energy Inc. and H2 Portable Power Corp. have initiated a C$15 million private placement financing in preparation for a strategic amalgamation that would result in H2P’s backdoor listing on the Toronto Stock Exchange. The financing involves selling subscription receipts, which will convert into H2P units upon meeting certain conditions, potentially transforming into common shares of Loop Energy post-transaction. This move is aimed at bolstering the companies’ financial footing and market presence.
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