Sucro Announces Strategic U.S. Domestic Raw Sugar Supply Agreement with HMC Farms to Support New U.S. Refining Capacity

UNIVERSITY PARK, Ill., March 18, 2026 /CNW/ - Sucro Limited (TSXV: SUGR) (OTCQB: SUGRF) ("Sucro" or the "Company")., an integrated sugar refiner, focused primarily on serving North American sugar markets, today announced a raw sugar supply agreement with HMC Farms LLC, one of Louisiana's largest cane growers and owned by Hugh Andre and his bothers Chris and Mike Andre. The agreement will support operations at Sucro's new refinery in University Park, Illinois, strengthening newly built domestic refining capacity while expanding market opportunities for U.S. cane growers.

The University Park refinery represents a significant advancement in modern U.S. sugar refining infrastructure. It operates as a true granular refinery, and will produce a broad range of refined granular sugar products, including US standard Granulated (ECJ) sugar, multiple specialty granulation sizes tailored to customer specifications, and specialty sugars such as brown, yellow and powdered sugars

Once fully operational, the new University Park refinery is expected to reach approximately 350,000 metric tons of annual production, adding important new refining capacity for domestically produced cane sugar, and helping strengthen the reliability, resilience and efficiency of the U.S. sugar supply chain. At a time when U.S. refining capacity remains limited due to other competitive refinery closures, the University Park facility will provide an important new outlet for American cane sugar production, strategically and advantageously located in the heart of the Midwest.

Hugh Andre, owner of HMC Farms LLC, said the agreement represents an important step for Louisiana's cane growers.  "Louisiana's cane growers depend on strong refining partners and reliable markets for our production," Mr. Andre said. "Sucro's investment in the University Park refinery will create meaningful new demand for raw sugar. With the refinery expected to reach approximately 350,000 metric tons of annual capacity, it will be an important and reliable outlet for our crop and will help support continued growth in Louisiana's cane acreage for years to come."

Jonathan Taylor, Founder and CEO of Sucro, said the agreement reflects the company's commitment to working closely with American sugar cane growers while investing in modern and efficient refining infrastructure.  "Sucro's strategy is centered on building strong partnerships with domestic growers and investing in efficient refining infrastructure in the United States," Mr. Taylor said. "The University Park refinery strengthens domestic refining capacity while providing our customers with high-quality refined sugar products, produced through modern and efficient processes, and readily available to their nearby food manufacturing plants throughout the Midwest."

As part of its supply strategy and agreement, Sucro will prioritize and pay a premium for domestically produced sugar whenever possible, reinforcing the company's commitment to U.S. cane growers and the long-term stability of the domestic sugar industry.

As part of this strategy and agreement, imports of molasses products are expected to be significantly reduced or eliminated, with any remaining volumes limited primarily to specialized applications required for certain products and customers but not expected to exceed 2,000 MTs per month or 24,000 MTs per year. This approach is supported by Sucro's modern refining configuration, including the capabilities of Sucro's new Hamilton Ontario's refinery, which allows for maximum sugar recovery and more efficient utilization of domestic raw sugar supplies and the closing of its less efficient and older sugar refinery in Hamilton Ontario, which is expected to occur in April 2026.

Sucro also announced that part of its long-term strategy is to work closely with HMC Farms to support the continued growth of Louisiana cane acreage. In support of this effort, Sucro has recently purchased its first cane farm in Louisiana, which will be managed and operated by HMC Farms. The initiative is intended to help expand acreage and strengthen domestic supply, with the potential for additional land acquisitions over time as part of Sucro's long-term commitment to supporting U.S. cane growers.

The University Park refinery will serve as a key operation for Sucro's expanding refining network, supplying customers throughout the Midwest and across North America, and is strategically located to effectively utilize Louisiana grown sugar,

Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws.  Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.

This forward-looking information includes, among other things, statements relating to: expected timing for commencement of operations, expected products to be produced and expected capacity of the Company's new University Park, Illinois cane sugar refinery; expected prioritization of U.S. sugar purchases; expected reduction in the importation of molasses; potential for acquisition of additional U.S. sugar cane properties; and expected closure timing of the Company's current Hamilton refinery assets

This forward-looking information and other forward-looking information are based on Suro's opinions, estimates and assumptions in light of Sucro's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Sucro currently believes are appropriate and reasonable in the circumstances.  Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. 

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, our ability to obtain licenses and permits; development of the new Guyana refinery may experience cost-overruns and/or delays and actual costs, operational efficiencies, production volumes or economic returns may differ materially from Sucro's estimates and variances from expectations; disruptions to supply chains as a result of outbreaks of illness, geopolitical events or other factors; inflation and rising interest rates; changes to or the elimination or significant reduction of protective duties relating to foreign sugar imports in the Caribbean region; dependence on management's ability to implement its strategy; competitive risks; our dependence on a small number of key persons; and the other risk factors discussed in greater detail under "Risk Factors" in Sucro's annual information form ("AIF") dated April 18, 2024 and filed on SEDAR+ at www.sedarplus.ca, which section of the AIF is specifically incorporated by reference herein.

Prospective investors in Sucro should not place undue reliance on forward-looking information, which speaks only as of the date made.  The forward-looking information contained in this press release represents Sucro's expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and is subject to change after such date. However, Sucro disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. For additional information, readers should also refer to Sucro's most recent management's discussion and analysis and other information filed on www.sedarplus.ca.

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 three sugar cane refineries under development in Hamilton, Ontario, University Park, Illinois (a suburb of Chicago) and Belize (under a joint venture with Santander Sugar Group). 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.

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.

About HMC Farms LLC

HMC Farms LLC is a Louisiana-based cane farming operation led by Hugh Andre and his brothers Chis and Mike Andre.  A first-generation cane farming business, HMC Farms has grown rapidly through a strong focus on operational efficiency, innovation, and disciplined farm management. Today, HMC Farms is recognized as one of the largest and most efficient cane farming operations in the state of Louisiana.

SOURCE Sucro Limited

For further information, please contact: Don Hill, Chairman, Sucro Limited, T: [phone], E: [email protected]