Loop Energy Inc. has finalized a transaction with Teralta Hydrogen Solutions, following a notice of intention to make a proposal proceeding under the Bankruptcy and Insolvency Act (Canada). The completion of the Transaction, approved by the Supreme Court of British Columbia, involved the creation of a new entity, 16483640 Canada Ltd., which received certain assets, contracts, and liabilities from Loop. Additionally, all previous shares issued by Loop were canceled without consideration, and Teralta subscribed for and purchased 1,000,000 new common shares, becoming the sole shareholder of Loop. Loop Energy Inc. was delisted from the Toronto Stock Exchange and plans to apply to cease being a reporting issuer. The Transaction also included the enactment of a reverse vesting order. Loop, a designer and manufacturer of hydrogen fuel stacks for commercial vehicles like buses and trucks, has been undergoing restructuring. Teralta Hydrogen Solutions, known for its innovations in clean hydrogen production, now has exclusive access to clean hydrogen and a unique end-to-end business model. Legal firms acted as advisors in the transaction process, and forward-looking statements indicate Loop's expectations regarding its status as a reporting issuer and the bankruptcy assignment of 16483640 Canada Ltd. Loop cautions about the risks involved in such operations and updates available information on SEDAR+ database.