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Loop Energy Announces Completion of Sale to Teralta

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VANCOUVER, BC, Nov. 5, 2024 /CNW/ – Loop Energy Inc. (“Loop”) today announces that, in connection with its notice of intention to make a proposal proceeding pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”), and following the sale and investment solicitation process approved by the Supreme Court of British Columbia (the “Court”), it has completed the transaction (the “Transaction”) contemplated by the subscription agreement entered into on October 28, 2024, between Loop, as vendor, and Teralta Hydrogen Solutions Inc. (“Teralta”), as purchaser (such subscription agreement, the “Subscription Agreement”). The Transaction was completed in accordance with the terms of the Subscription Agreement and the provisions of a reverse vesting order granted by the Court on October 28, 2024 (the “RVO”).

As part of the Transaction: (a) a new entity, 16483640 Canada Ltd., was incorporated and vested with certain of Loop’s excluded assets, contracts and liabilities; (b) all shares, interests, participation or other equivalents of capital stock or share capital or related rights or interests, among other things, issued by or existing in Loop prior to the closing of the Transaction were cancelled and terminated without consideration; and (c) Loop issued, and Teralta subscribed for and purchased, 1,000,000 new common shares in the capital of Loop. Teralta is now the sole holder of Loop’s share capital. 16483640 Canada Ltd. is expected to be assigned into bankruptcy pursuant to the BIA.

Loop was delisted from the Toronto Stock Exchange effective close of market on September 3, 2024. Loop expects to make an application to cease to be a reporting issuer.

Further information regarding the notice of intention to make a proposal proceeding pursuant to the BIA and documents related thereto, including a copy of the RVO, can be accessed through the website hosted by Crowe MacKay & Company Ltd. in its capacity as proposal trustee of Loop: https://crowemackayco.ca/project/loop-energy-inc/

About Loop Energy Inc.
Loop is a designer and manufacturer of hydrogen fuel stacks targeted for the electrification of commercial vehicles such as buses and trucks, as well as stationary power applications. Loop filed a notice of intention to make a proposal under section 50.4 (1) of the BIA on July 17, 2024.

About Teralta Hydrogen Solutions Inc.
Teralta is an innovator in clean hydrogen and e-natural gas production, including the technology and the infrastructure to store and distribute it. Founded in 2021, Teralta’s exclusive access to clean hydrogen and its unique end-to-end business model distinguishes it from any competitor, delivering safe, secure, and profitable clean hydrogen initiatives.

Advisors
Pelorus Law Corporation and Stikeman Elliott LLP acted as counsel to Teralta. Owen Bird Law Corporation and McCarthy Tétrault LLP acted as counsel to Loop. Crowe MacKay & Company Ltd. was Loop’s proposal trustee.

Forward-Looking Information
This press release contains forward-looking statements, including, but not limited to, those relating to Loop ceasing to be a reporting issuer and expectations with respect to the assignment in bankruptcy of 16483640 Canada Ltd.

These statements are based on current expectations as of the date of this press release. These expectations involve several risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks with respect to: receipt of all required regulatory approvals; the anticipated benefits of the Transaction; the outcome of proceeding under the BIA; general economic, business and market conditions; the ability of management to execute its business plan; and actions taken by governmental authorities.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Loop as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.

Loop cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time-to-time. Loop disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Further information regarding Loop is available in the SEDAR+ database (www.sedarplus.ca).

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For More Information:
Simon Pickup, Teralta CEO
PR@teralta.com 
www.teralta.com

Crowe MacKay & Company Ltd., in its capacity as proposal trustee of Loop
1100 – 1177 West Hastings Street
Vancouver, British Columbia V6E 4T5
+1 (604) 689-3928
https://crowemackayco.ca/project/loop-energy-inc/

SOURCE Loop Energy Inc.

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Opus Technologies Named Among India’s Top 100 (Mid-Size) Best Workplaces for Women 2024 by Great Place To Work® India

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PUNE, India, Nov. 6, 2024 /PRNewswire/ — Opus Technologies has been recognized by Great Place To Work® India among – India’s Top 100 Best Workplaces for Women 2024

Opus Technologies has achieved a significant milestone, earning recognition as India’s Top 100 Best Workplaces™ for Women 2024 by Great Place to Work© India. This prestigious accolade underscores our commitment to creating an environment where women can thrive professionally and make substantial contributions.

At Opus, we recognize the immense value women bring to our organization. Our female employees consistently demonstrate leadership, drive innovation, and excel across all levels of the company. This recognition celebrates their achievements and reaffirms our dedication to fostering a workplace that empowers women in tech.

As a global authority on workplace culture, Great Place To Work has been studying employee experience and people practices across organizations for over three decades. Every year, more than 100 million employees from over 150 countries worldwide take the Great Place To Work for assessment, benchmarking, and planning of actions to strengthen their workplace culture.

In this year for India, based on a rigorous evaluation methodology, 200 organizations among India’s Best Workplaces for Women 2024 have been recognized. These organizations, among other practices, particularly excel both in people practices that they have crafted for their employees and proactively acting on the feedback to create a High Trust Culture. The report and the complete list (in alphabetical order) of India’s Best Workplaces for   2024 can be viewed on our website.

“In today’s dynamic business landscape, we’ve long recognized that when people feel truly supported and valued, businesses don’t just survive—they thrive. This rings especially true for women in the workplace. By fostering environments that prioritize flexibility, equity, and inclusion, we empower all employees to bring their full potential to work every day.

However, we find ourselves at a critical juncture. Despite years of progress, women’s representation in the workforce has plateaued at 26%, with a mere 122% in executive or C-level positions. More concerning is the declining workplace sentiment among women, signaling a growing disconnect in their work environments.

Our research unequivocally shows that when women experience a sense of belonging, they are 6 times more likely to consider their workplace great. This stark statistic underscores the immense potential waiting to be unlocked in organizations that prioritize inclusivity and equality.

As we launch India’s Best Workplaces™ for Women 2024 report, we celebrate the companies leading the charge in creating truly inclusive environments. These organizations understand that championing women isn’t just about meeting quotas—it’s about cultivating a culture where everyone can thrive.

To all the winners of India’s Best Workplaces for Women: congratulations on setting the gold standard. Your commitment to fostering environments where women feel valued, heard, and empowered serves as an inspiration and a call to action for us all. Together, let’s continue to build workplaces where every individual, regardless of gender, can reach their full potential.”

–          Balbir Singh, CEO, Great Place To Work®️ India

Praveen TM, CEO of Opus Technologies, stated, “Being recognized as one of the Best Workplaces™ for Women by Great Place to Work© India is a significant milestone for us. This honor highlights our commitment to building a workplace where every woman feels valued and empowered to lead. We firmly believe that our diverse workforce is key to our innovation and growth, and we will continue to champion equality and inclusivity in all aspects of our organization.”

Speaking about the achievement, Babitha P, Chief People Officer at Opus Technologies, said, “This recognition reflects our ongoing commitment to diversity, equity, and inclusion. At Opus, we are dedicated to creating an environment where everyone, particularly women, can thrive and feel empowered. Embracing diverse perspectives is at the heart of our culture and a key driver of our success.”

Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index™ Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification™ and highly competitive Best Workplaces Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Opus Technologies:

With nearly three decades of experience, Opus Technologies is a global provider of outcome-driven payment strategies. Opus combines its deep technology proficiency with unmatched domain expertise in payments and fintech to deliver unparalleled quality and value in its work.

Visit https://opustechglobal.com/ to learn more. Follow Opus Technologies on LinkedIn.

Logo – https://mma.prnewswire.com/media/1915707/Opus_Logo_Logo.jpg 

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Vasant Masala enters a new era with Anil Kapoor as brand new, unveiling new logo and identity

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AHMEDABAD, India , Nov. 6, 2024 /PRNewswire/ —  Vasant Masala, a prominent name in the spices industry for over 54 years, is proud to unveil Bollywood icon Anil Kapoor as its new brand ambassador, alongside their new positioning: ‘Pyaar Toh Hona Hi Tha.’ The tagline encapsulates how Vasant Masala enhances the flavours of every dish, creating meals that not only satisfy taste buds but also strengthen the bonds of love within families, making every moment around the table one filled with warmth and togetherness.

An exciting collaboration will feature Anil Kapoor alongside his brother Sanjay Kapoor for the first time on-screen with Vasant Masala’s TVC. Their sibling bond exemplifies the essence of Vasant Masala’s new message: love isn’t just a sentiment, but an experience that unites us, especially in the context of family life and cherished traditions.

As part of this exciting evolution, Vasant Masala is also unveiling a refreshed brand identity, complete with a modernised logo. The revamped identity represents Vasant Masala’s dedication to connecting with the tastes and preferences of its customers.

Elaborating on Anil Kapoor’s association as Vasant Masala’s brand ambassadorship, Chandrakant Bhandari, CMD of Vasant Masala, stated, “For decades, delivering purity to Indian households has been the cornerstone of Vasant Masala. With ‘Pyaar Toh Hona Hi Tha,’ we are not only enriching this foundation but also strengthening the bond that goes beyond taste to touch the heart. Anil Kapoor’s association perfectly blends tradition, modernity, and universal appeal, resonating across generations. This campaign celebrates our legacy while reaching a wider audience, bringing Vasant Masala into more homes and fueling our growth for years to come.”

Anil Kapoor, expressing his excitement about this partnership, shared, “I am thrilled to be part of this new chapter in Vasant Masala’s journey. This brand is known for its uncompromising quality and I have complete faith in its commitment to delivering the best. This story is about more than just promoting a product; it’s a celebration of love, family, and the bonds we hold dear. What’s more, this will be the first time I’ll share the screen with my brother Sanjay, which makes this even more exciting for me. I can’t wait to see how this heartfelt campaign connects with people.”

About Vasant Masala:

As a leading brand in the Indian spices market, Vasant Masala remains dedicated to providing high-quality products while deepening its emotional connection with its consumers. Vasant Masala has been delighting millions of families across Gujarat, Rajasthan, Madhya Pradesh, and beyond for the past 54 years. With its diverse range of products such as blended spices, Hing, basic spices, whole spices, and powdered spices, Vasant Masala has gained recognition on a global scale. Exported to five continents, Vasant Masala is known for its unparalleled quality and widespread popularity. This trusted brand has consistently provided consumers with the finest spices, making it the top choice of housewives for the last five decades due to its unmatched flavor and health benefits.

For Trade, Marketing & Other enquiries:
E-mail: info@vasantmasala.com
Call: +91 94265 06390
Know more about the brand at www.vasantmasala.com.

Photo: https://mma.prnewswire.com/media/2549243/Vasant_Masala_Anil_Kapoor.jpg

 

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Sinopec Hosts Forum Session at 7th China International Import Expo

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US$40.9 billion in purchasing contracts signed with 38 partners, bringing the total of seven sessions of CIIE to US$285 billion

SHANGHAI, Nov. 5, 2024 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) has hosted a forum titled “Building Global Energy Partnerships” and a signing ceremony at the 7th China International Import Expo (CIIE 2024) in Shanghai. The exhibition, running from November 5 to 10, is focused on the global energy transition and fostering an open, green, and low-carbon ecosystem.

At the signing ceremony, Sinopec signed purchasing contracts with 38 partners from 18 countries, which totaled US$40.9 billion, including 27 products from 10 major categories, including crude oil, chemicals, equipment, materials, consumer goods and more. Since the first CIIE in 2018, Sinopec has signed orders exceeding a total of US$285 billion in seven sessions.

Ma Yongsheng, chairman of Sinopec, remarked in a keynote speech at the forum that the global energy supply as well as demand pattern and governance system are in need of real changes, and the transformational development of energy and chemical industry is already in a new stage.

“In the face of the great momentum of development, Sinopec unswervingly commits to promoting high-quality, intelligent, and green development leveraging advanced technologies,” said Ma. “We also understand deeply that the energy and chemical industries can only achieve sustainable development through cooperation. Sinopec has always adhered to open cooperation and achieve mutual wins with all our partners.”

Sinopec aims to enhance collaboration on oil and gas resources, working with various stakeholders to establish a more stable industry alliance. The company is also committed to expanding its green energy initiatives to further its low-carbon transformation goals. Additionally, Sinopec seeks to foster technology partnerships to unite innovative efforts, aiming to create a harmonious balance between humanity and nature, address climate challenges effectively, and build a cleaner, more sustainable world for future generations.

At CIIE 2024, Sinopec also signed cooperation and procurement agreements with a number of companies at the event. It has signed a framework agreement with TotalEnergies on long-term LNG supply, under which TotalEnergies will supply 2 million tons of LNG per year to Sinopec from 2028, for a total of 15 years. The partnership will enable both parties to further explore opportunities across the whole industry chain and promote global energy transformation.

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SOURCE SINOPEC

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