SNRG - SusGlobal Energy announces $15.7M acquisition of soil media producer

SusGlobal Energy (OTC:SNRG) said it has entered into a non-binding letter of intent to acquire a soil media, plant nutrients, and amendments producer - Target - for $15.70M, that compares to SusGlobal's marketcap of $29.92M. As part of the transaction, SusGlobal Canada will make a $3.92M investment into the Target, in addition of $157K deposit provided on Mar. 8, 2022. Target's production of soil media, plant nutrients, and amendments is approved for organic use and is specifically formulated for producing high-quality fruit and flowering crops, report. Synergies: The company expects this acquisition to generate US$7.85M (C$10M) in annual revenue for 2022 and additional opportunities from a geographical and market share approach with exponential revenue growth beginning in 2023. "Its assets, customer base, branding experience, and superior organic products are highly complementary to our existing licensed infrastructure and feedstock supply. All of its offerings are currently at big box retailers allowing the leveraging

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SusGlobal Energy announces $15.7M acquisition of soil media producer