Quarterly ResultJul 14, 2026, 10:51 AM
SusGlobal Defaults on Debt, Sells Facility, Faces Fines
AI Summary
SusGlobal Energy Corp. reported significant financial and operational challenges in its annual filing, including defaulting on $9.9 million in convertible notes and $9.7 million in mortgages as of December 31, 2025. The company sold its Hamilton Facility for $7.84 million in June 2026. Its Belleville Facility ceased operations in January 2024 due to regulatory non-compliance, leading to $2.8 million in accrued corrective action costs and a $200,640 fine. Re-opening of the Belleville Facility is anticipated in Q1 2027, contingent on securing significant funding.
Key Highlights
- Hamilton Facility sold for $7,843,200 (C$10,750,000) on June 30, 2026.
- Belleville Facility ceased operations Jan 10, 2024, due to regulatory issues; re-opening anticipated Q1 2027, subject to funding.
- $9,907,272 in convertible promissory notes past due and in default as of Dec 31, 2025.
- $9,730,662 (C$13,336,982) in mortgages past due and in default as of Dec 31, 2025.
- Accrued $2,824,245 (C$3,870,950) for Belleville Facility corrective actions as of Dec 31, 2025.
- Accrued $200,640 (C$275,000) for regulatory fine from Ontario Court of Justice.
- Raised $220,000 in private placement in 2025.
- Unable to pay insurance premiums due to lack of funding.
Price Impact
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