Sucro Limited Announces Commencement of Trading on TSX Venture Exchange

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TORONTO, Oct. 30, 2023 /CNW/ - Sucro Limited (TSXV: SUG) ("Sucro" or the "Company"), an integrated sugar company focused primarily on serving the North American market, today announced it will commence trading on the TSX Venture Exchange (the "TSXV") at the opening of the market on Monday, October 30, 2023 under the symbol "SUG".

"The success of the IPO is another step in our growth plan for Sucro. We've built a business of scale serving large global and national customers across North America," said Jonathan Taylor, Founder and CEO of Sucro. "The attractive macro market dynamics in sugar demand and refining in North America position us for continued sustainable growth. We've built the business with a team, an asset base, and a capital structure in a disciplined and proven model. Our low-cost capex model has additional capacity that is already funded as we attract new customers and expand the capacity of our Lackawanna refinery." 

Sucro also announced that it has retained Hybrid Financial Ltd. ("Hybrid") and LodeRock Advisors Inc. ("LodeRock") to provide marketing and communication services to the Company.

Hybrid has been engaged to heighten market and brand awareness for Sucro and to broaden the Company's reach within the investment community. Hybrid has been engaged by the Company for an initial period of six months starting on October 30, 2023 (the "Initial Term") and then shall be renewed automatically for successive three month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000 during the Initial Term

LodeRock has been engaged for strategic investor relations and capital markets communication services. Under the terms of the agreement, which will continue until either party has terminated the agreement with thirty (30) days' notice, LodeRock will pay LodeRock a monthly fee of $12,500 for ongoing strategic communication services. At the time of this agreement, neither LodeRock nor its principals have any direct or indirect interest in Sucro securities.

Hybrid and LodeRock have each agreed to comply with all applicable securities laws and the policies of the TSXV in providing the Services.

About Sucro

Sucro is a growth-oriented sugar company that operates throughout the Americas, with a primary focus on serving the North American sugar market. The Company operates a highly integrated and interconnected sugar supply business, utilizing the entire sugar supply chain to service its customers. Sucro's integrated supply chain includes sourcing raw and refined sugar from countries throughout Latin America, and refined sugar from its own refineries, and delivering to customers in North America and the Caribbean. Since its inception in 2014, Sucro has achieved significant growth by creating value for customers through continuous process innovation and supply chain re-engineering. Sucro has established a broad production, sales and sourcing network throughout North America with two cane sugar refineries and an additional value-added processing facility. The Company has offices in Miami, Mexico City, Sao Paulo, and Port of Spain. To learn more, visit: www.sucro.us. 

Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws, which reflect the Company's current expectations regarding future events. Such information includes, but is not limited to statements related to the expected closing date of the Offering, the exercise of the Over-Allotment Option, and the date that trading of the Company's subordinate voting shares is expected to commence on the TSXV. 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. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under "Risk Factors" in the Company's final long form prospectus. Actual results could differ materially from those projected herein. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Sucro Limited

Don Hill, Chairman, T: [phone], E: [email protected]; Investor Relations: Ian Tharp, T: [phone], E: [email protected]