Loop Energy Announces TSX Continued Listing Review and Provides Update on the Strategic Review Process

VANCOUVER, BC / ACCESSWIRE / May 31, 2024 / Loop Energy™ Inc. ("Loop" or the "Company") (TSX:LPEN) has received a letter from the Toronto Stock Exchange (TSX) regarding the review of its eligibility for continued listing. A TSX Listing Committee meeting is scheduled for September 20, 2024, to discuss this matter.

To extend its limited financial resources, the Company has announced a further reduction in its workforce. Effective June 1, 2024, Loop Energy will employ only a small number of essential employees worldwide. The Company is facing financial challenges and may need to raise additional capital or consider other alternatives that may impact its status as a going concern.

Forward-looking statements in this press release include potential proceedings or actions Loop might take in the future. These projections are based on certain assumptions and are subject to various risks and uncertainties, including the potential failure to secure financing or initiate insolvency proceedings.