CORAL GABLES, Fla., April 16, 2025 /CNW/ – Sucro Limited (TSXV: SUGR) (OTCQB: SUGRF) (“Sucro” or the “Company“), an integrated sugar refiner focused primarily on serving North American sugar markets, announced today that a subsidiary of the Company has completed the previously announced purchase of the commercial property adjoining its cane sugar refinery development site in University Park, Illinois. The property is intended to be incorporated into the Company’s previously announced cane sugar refinery development project at that location. The vendor of the property was MB Central-Bond LLC, a company in which Matthew Dyer, Sucro’s Vice President of U.S. Sales, is the controlling shareholder. The property was acquired for a purchase price of US$1.043 million. The parties originally agreed that the purchase price would be satisfied by the assumption of existing mortgage indebtedness and cash. Prior to closing, the parties agreed to amend the manner in which the purchase consideration would be satisfied to a US$142,133 unsecured interest-bearing promissory note and the balance in cash.
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 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, and two cane sugar refineries under development in Hamilton, Ontario and University Park, Illinois (a suburb of Chicago). The Company has offices in Miami, Mexico City, Cali, Sao Paulo, and Port of Spain. For more information, visit sucro.us and follow us on LinkedIn.
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SOURCE Sucro Limited
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