Toronto, Ontario--(Newsfile Corp. - July 18, 2023) - SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal") or (the "Company"), an environmental, agricultural, and industrial biotechnology and renewables company, is making waves with its latest strategic move. Today, the Company's wholly owned subsidiary, SusGlobal Energy Canada I Ltd. ("SusGlobal Canada I"), proudly announces the signing of a ground-breaking Agreement of Purchase and Sale dated June 15, 2023. This agreement secures the acquisition of 2.03 acres of prime M5 Industrial Lands, located at 490 Nash Road North, in Hamilton, Ontario, adjacent to the Company's existing 3.26-acre site and facility. The Company believes the purchase marks a monumental step forward for SusGlobal as it merges the lands for a total 5.29-acre licensed site and solidifies its position as a leader in the organic waste processing and fertilizer production industry.
By leveraging its Environmental Compliance Approval ("ECA") to process a staggering 65,884 metric tonnes per annum of organic waste, SusGlobal is paving the way for what the Company believes are revolutionary advancements in sustainable agriculture. The Company has demonstrated its commitment to cutting-edge technology with the development of SusGro™, an unrivaled pathogen-free organic liquid fertilizer. The acquisition of this additional property will provide the space needed to manufacture, distribute, and store SusGro™, as well as other top-quality products available through private label arrangements. The Company believes these offerings will find their way to big box retailers, consumer lawn and garden suppliers, and industries such as wine, cannabis, agriculture, and golf.
In an exciting development, the expanded Hamilton facility will also include an impressive 10,000 square feet of state-of-the-art R&D labs and office space. With a total area of approximately 50,000 square feet, this facility will serve as the hub for SusGlobal's ongoing development of proprietary formulations and branded products. By investing in cutting-edge research and innovation, SusGlobal solidifies its commitment to delivering ground-breaking solutions that drive sustainable change.
Colliers International Realty Advisors Inc. ("Colliers") at the Company's request, carried out an analysis of the property to estimate its prospective market value. Based on their opinion the market value "As Complete" of the fee simple interest in the property as of June 2, 2023, is estimated at US$14,222,000 (CA$18,750,000). The value estimate is based on an exposure period of six months or less, assuming the basis of a transaction involving cash to the vendor and is in conjunction with the Assumptions and Limiting Conditions stated within the appraisal. The report describes the methods and approaches to value in support of the above conclusion, and contains the pertinent data gathered in their investigation of the market.
Marc Hazout, the President and CEO of SusGlobal, expressed his enthusiasm about the acquisition, stating, "We are thrilled to have secured these additional lands, merging them with our existing Hamilton site and prestigious ECA. SusGlobal solidifies its position as a reliable partner for its municipal clients, ready to meet the growing demands of waste management and organic processing, while ensuring enhanced capacity for Hamilton's expanding green bin program. As municipalities strive to implement sustainable practices, SusGlobal stands at the forefront, providing vital solutions that align with environmental goals and regulatory requirements. Furthermore, the proximity of our Hamilton facility to the City of Hamilton's Kenora Transfer Station enhances logistical efficiency, egress, and future Biogas expansion possibilities. Through this acquisition, we position ourselves for enhanced commercialization and distribution, enabling possible substantial growth in revenue and cash flows derived from fertilizer sales, tipping fees, and the lucrative monetization of carbon credits. SusGlobal is proudly spearheading the way as Leaders in The Circular Economy®."
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, an award winning and revolutionary pathogen free organic liquid fertilizer, is an environmental, agricultural and industrial biotechnology company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative product applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider and a trusted brand for the fertilizer, soil and aquaculture market, as LEADERS IN THE CIRCULAR ECONOMY®.
For more information, please visit the Company's website at: www.susglobalenergy.com
Safe Harbor Statement
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's objectives. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company's ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company's ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.
SusGlobal Energy Corp.
Marc Hazout, President and CEO
(416) 223-8500 or Toll Free: 1-866-512-7374
SOURCE: SusGlobal Energy Corp.
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