<SEC-DOCUMENT>0001654954-20-011805.txt : 20201104
<SEC-HEADER>0001654954-20-011805.hdr.sgml : 20201104
<ACCEPTANCE-DATETIME>20201104091536
ACCESSION NUMBER:		0001654954-20-011805
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201029
ITEM INFORMATION:		Termination of a Material Definitive Agreement
FILED AS OF DATE:		20201104
DATE AS OF CHANGE:		20201104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Loop Industries, Inc.
		CENTRAL INDEX KEY:			0001504678
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				272094706
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38301
		FILM NUMBER:		201285385

	BUSINESS ADDRESS:	
		STREET 1:		480 FERNAND POITRAS
		CITY:			TERREBONNE
		STATE:			A8
		ZIP:			J6Y 1Y4
		BUSINESS PHONE:		781-821-6600

	MAIL ADDRESS:	
		STREET 1:		480 FERNAND POITRAS
		CITY:			TERREBONNE
		STATE:			A8
		ZIP:			J6Y 1Y4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST AMERICAN GROUP INC.
		DATE OF NAME CHANGE:	20101101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>lp_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, D.C. 20549</font></div>
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FORM 8-K</font></div>
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CURRENT REPORT</font></div>
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Pursuant to Section 13 or 15(d) of</font></div>
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The Securities Exchange Act of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date of
Report (Date of earliest event reported)</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
October 29, 2020</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 16px">
LOOP INDUSTRIES, INC.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Exact
name of registrant as specified in its charter)</font></div>
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Nevada</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
000-54786</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
27-2094706</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(State
or other jurisdictionof incorporation)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(CommissionFile
Number)</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(IRS
EmployerIdentification No.)</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
480 Fernand Poitras</font></div>
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<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Terrebonne, Quebec, Canada, J6Y 1Y4</font></div>
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(450) 951-8555</font></div>
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Not Applicable</font></div>
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name or former address, if changed since last report)</font></div>
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&#x2610;&#xA0;</font> Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</font></div>
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&#x2610;&#xA0;</font> Pre-commencement communications pursuant to
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240.14d-2(b))</font></div>
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240.13e-4(c))</font></div>
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registered pursuant to Section 12(b) of the Act:</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Title of each class</font></div>
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Trading Symbol(s)</font></div>
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Name of each exchange on which registered</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Common
stock, par value $0.0001 per share</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">LOOP</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Nasdaq
Global Market</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (&#xA7;240.12b-2 of this chapter)</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">.Emerging
growth company <font style="color: #000000">&#x2610;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. <font style="color: #000000">&#x2610;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 1.02. Termination of a Material Definitive
Agreement.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">On
October 29, 2020, Loop Industries, Inc. (the &#x201C;Company&#x201D;)
received notice from Coca-Cola Cross Enterprise Procurement Group
(&#x201C;CEPG&#x201D;) of CEPG&#x2019;s intention to terminate the
Master Terms and Conditions Supply Agreement for Loop PET plastic,
dated November 14, 2018 (the &#x201C;MTC&#x201D;), with such
termination to be effective on December 14, 2020 (the
&#x201C;Notice&#x201D;).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The MTC
was a multi-year agreement that enabled members of CEPG
(&#x201C;Customers&#x201D;) to enter into supply agreements with the
Company for the purchase of Loop PET plastic from the
Company&#x2019;s as yet unfinished joint venture facility, to be
established in Spartanburg, South Carolina with Indorama Ventures
PCL to incorporate Loop&#x2122; PET plastic into its product
packaging. Pursuant to the MTC, the Company would have had an
opportunity to provide and deliver certain quantities of
Loop&#x2122; PET plastic to Customers under supply agreements which
incorporated the terms of the MTC.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
CEPG advised the Company that it&#xA0;is terminating the MTC
because the Company did not satisfy its first production milestone
from the joint venture facility by July 2020 as required by the
MTC. CEPG indicated in the Notice that it is open and interested in
exploring a new framework agreement with the Company for North
America and/or Europe.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company previously expected the commissioning of the joint
venture facility in the third quarter of 2021. However, as
previously disclosed, the Company now expects delays in the
commissioning of the joint venture facility, which has been
affected by the Covid-19 pandemic and the continued border closures
and quarantine requirements between Canada and the U.S. The Company
intends to engage with CEPG regarding the joint venture facility
when it has more clarity on the commisioning as well as for our
planned Infinite Loop European project.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
foregoing description of the terms of the MTC does not purport to
be complete and is qualified in its entirety by reference to the
full text of the MTC, a copy of which was filed as Exhibit 10.1 to
the Company&#x2019;s Current Report on Form 8-K filed with the SEC
on November 29, 2018 and is incorporated by reference into this
Item&#xA0;1.02.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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SIGNATURES</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LOOP INDUSTRIES, INC.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:
November 4, 2020</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:</font></div>
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/s/ Daniel Solomita</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Daniel
Solomita</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Chief
Executive Officer and President</font></div>
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