OnMarch 25, 2020, Loop Industries, Inc. (the “Company”) announced its measures to comply with the order of the Quebec provincial government to minimize all non-priority services and activities until April 13, due to the ongoing COVID-19 pandemic.

The order provides exemptions that allow businesses that provide non-priority services to maintain minimal operations to ensure the resumption of their activities, bearing in mind the directives issued by public health authorities. Consequently, the company will maintain reduced operations at the pilot plant and protect its investment in its assets, which are utilized for the continuing development of its depolymerization technology for the production of sustainable PET plastic.

The company’s main focus during the time frame of the government order will be to continue working with its joint venture partner, Indorama Ventures Limited, to oversee the engineering for the Spartanburg joint venture facility and pursue its plans for the commercialization of its technology. The company has made arrangements for employees to work remotely to support these engineering activities.

A copy of the Company’s press release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Loop Industries, Inc. Exhibit
EX-99.1 2 loopind_ex991.htm PRESS RELEASE loopind_ex991 Exhibit 99.1   Loop Industries Announces Temporary Reduction of Activities due to COVID-19   MONTREAL (QC) / ACCESSWIRE / March 25,…
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About LOOP INDUSTRIES, INC. (OTCMKTS:LLPP)

Loop Industries, Inc., formerly First American Group Inc., is a manufacturer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG), the chemical components used in manufacturing polyethylene terephthalate (PET). The Company is engaged in designing, prototyping and building a closed loop plastics recycling business using a de-polymerization technology. Its technology uses waste PET plastics, such as water bottles, soda bottles, consumer packaging, carpets and industrial waste as feedstock to process. These feedstocks are available through municipal triage centers, industrial recycling and landfill reclamation projects. The Company operates in the United States and Canada. The Company focuses on depolymerizing waste plastics and converts them into valuable chemicals, ready to be reintroduced into the manufacturing of virgin plastics.