TORONTO, ON / ACCESSWIRE / November 12, 2020 / SusGlobal Energy Corp. ("SusGlobal") or (the "Company") (OTCQB:SNRG), the developer of SusGro™, a revolutionary pathogen-free organic liquid fertilizer, today announced that its wholly-owned subsidiary, SusGlobal Energy Belleville Ltd. ("SusGlobal Belleville"), through its wholly-owned real property subsidiary, 1684567 Ontario Inc. ("1684567") has exercised the Additional Lands Option (the "Option") as per the terms of the Share Purchase Agreement (the "SPA") for certain assets (the "Assets"), including 6.8 acres of property (the "Property") located at 704 Phillipston Road, in Belleville, Ontario.
As per the terms of the SPA, SusGlobal Belleville exercised its Option to acquire the Additional Lands, which includes a 6.60-acre licensed gravel pit and a .20-acre right of way, through 1684567, for the purchase price of USD$161,322 (CAD$210,000) plus HST, paid on closing.
SusGlobal is now the owner of a 49-acre land parcel at its Belleville, Ontario facility and will continue producing its Earth's Journey™ Compost by processing 70,000 tonnes per annum of organic waste, with an additional 50,000 tonnes per annum organic waste processing and transfer site approved under the existing Environmental Compliance Approval (the "ECA") and Site Plan. The integration of processing equipment including a depackaging system into the existing facilities will also allow for the treating of source separated organics ("SSO") and industrial, commercial and institutional ("ICI") organic wastes, while continuing to reduce greenhouse gas emissions ("GHG") by diverting organic waste streams from landfills.
"We are pleased to have exercised the option and purchase these two additional parcels of land in order to continue our initiatives at the Belleville site to bring organic waste management systems to a sustainable level and implementing a waste diversion plan from landfills, producing regenerative products, as Leaders in The Circular Economy®," stated Marc Hazout, Executive Chairman, President and CEO of SusGlobal Energy Corp.
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, a revolutionary pathogen-free organic liquid fertilizer is a renewables company focused on acquiring, developing and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative products applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider, 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.
Contact
SusGlobal Energy Corp.
Marc Hazout, President and CEO
(416) 223-8500 or Toll Free: 1-866-512-7374
Email: info@susglobalenergy.com
SOURCE: SusGlobal Energy Corp.
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