Loop Energy Inc. Files Preliminary Prospectus for Initial Public Offering

/Not for distribution to U.S. news wire services or dissemination in the U.S./

VANCOUVER, BC, Feb. 8, 2021 /CNW/ - Loop Energy Inc. ("Loop" or the "Company") announced today that it has filed, and obtained a receipt for, a preliminary long-form prospectus for the proposed initial public offering of common shares of the Company (the "Offering") with the securities regulatory authorities in each of the provinces in Canada. The gross proceeds of the Offering are expected to be $100 million.

National Bank Financial Inc. is acting as lead underwriter and sole bookrunner, with a syndicate of underwriters comprised of CIBC World Markets Inc., Raymond James Ltd., Canaccord Genuity Corp. and Cormark Securities Inc.

Fasken Martineau DuMoulin LLP is acting as legal counsel to the Company, KPMG LLP are the auditors for the Company, and Goodmans LLP is acting as legal counsel to the underwriters.

The preliminary long-form prospectus has not yet become final for purposes of a distribution of securities to the public. No securities regulatory authority has either approved or disapproved the contents of this news release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of Canada prior to the time of receipt for the final long-form prospectus or other authorization is obtained from the securities regulatory authority in such province. Copies of the preliminary long-form prospectus will be available on SEDAR at www.sedar.com.

The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registrations requirements of the U.S. Securities Act and applicable state securities laws.

About Loop

Loop is a leading designer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy duty trucks.  Loop's products feature the Company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates, eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization.   Loop works with OEMs and major vehicle sub-system suppliers to enable the production of fuel cell electric vehicles.  For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and the failure to raise the expected gross proceeds of the Offering, and the factors discussed under "Risk Factors" in the preliminary prospectus of the Company dated February 5, 2021.  Loop disclaims any obligation to update these forward-looking statements.

SOURCE Loop Energy Inc.

Darren Ready | CFO | Loop Energy | Tel: [phone] Ext. 302 | [email protected]