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PyroGenesis Additive Announces the Development of New Plasma-Based Process to Produce Metal Powders; Production of MIM Cut in Quantity; Ramp-Up Update $PYR.ca

Posted by AGORACOM-JC at 8:47 AM on Monday, August 14th, 2017

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  • Developed a new plasma-based process to produce metal powders which, not only enables MIM cut powder production at higher volumes, but may have a greater impact on the market than the Company’s original Plasma Atomization technology
  • Furthermore, the Company announces that the previously announced ramp-up phase for its first powder production system remains on schedule

MONTREAL, QUEBEC–(Aug. 14, 2017) – PyroGenesis Additive, a division of PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR) (OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has developed a new plasma-based process to produce metal powders which, not only enables MIM cut powder production at higher volumes, but may have a greater impact on the market than the Company’s original Plasma Atomization technology. Furthermore, the Company announces that the previously announced ramp-up phase for its first powder production system remains on schedule.

The Company provides the following highlights and developments to date:

  • On October 26, 2015, PyroGenesis announced that it was re-entering the market to produce metal powders, specifically for Additive Manufacturing (3D printing);
  • On April 7, 2016, PyroGenesis announced its intention to spin-off its Additive Manufacturing capabilities into an independent public entity;
  • On April 27, 2016, PyroGenesis announced that its 3D Printing particle size distribution greatly exceeded expectations;
  • On October 25, 2016, PyroGenesis announced that it had filed a patent for an improved metal powder production process and that the Company was on schedule for a 2017-Q1 powder production system assembly and first production run;
  • On January 23, 2017 and March 14, 2017, PyroGenesis provided updates on 3D Printing and reaffirms that it is on schedule for 2017-Q1 assembly and first production run despite delays with suppliers;
  • On March 30, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, with its first powder run exceeding expectations, and that the ramp-up, which was already underway, was expected to take place linearly over approximately four (4) months;
  • On April 25, 2017, PyroGenesis announced receipt of its first powder order from a multinational conglomerate, with the down payment already received, and market interest exceeding expectations;
  • On June 7, 2017, PyroGenesis announced receipt of its second powder order;
  • On June 14, 2017, PyroGenesis announced creation of PyroGenesis Additive; and
  • On June 19, 2017, PyroGenesis announced receipt of its third powder order and successful delivery of its first order which included both Titanium and Inconel powders;

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an overview of today’s announcement in the following Q&A format:

Q. What exactly is a “MIM cut”? 

A. MIM technically is short for “Metal Injection Molding”. The MIM cut refers to a particularly small metal powder size typically used in metal injection molding, and is now becoming of interest to certain 3D metal printer manufacturers. The metal powder sizes we deal with are measured in microns, with the MIM cut typically being between 5-20 microns, and sometimes as high as 25 microns.

Q. Is PyroGenesis not the inventor of the Plasma Atomization technology? A technology that makes small, metal powders for 3D metal printers, and which in fact, has become the gold standard for the production of titanium powders for the industry?

A. Yes, that is correct. We are the inventors of the Plasma Atomization technology. A technology we use to produce very small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing (“AM”) Industry. We first began producing powders using our Plasma Atomization technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led not only to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM Industry. 

Q. Could you describe the MIM cut in relation to 3D printers and the Plasma Atomization technology’s capabilities?

A. This is a very broad subject but I will try to give a brief overview recognizing the limitations of this forum.

Basically, there are now three (3) broad types of 3D printers using metal powders.

The first (1st) type is electron bean melting (EBM), used, for example, by Arcam printers, now part of GE Additive. EBM manufactures parts by melting metal powder layer by layer with an electron beam in a high vacuum. EBM technology uses the larger/coarsest fraction produced by our Plasma Atomization technology; typically, in the 45-106-micron range.

The second (2nd) type is Laser sintering, used, for example, in EOS, SLM, and Concept Laser printers. These printers use the small to middle fraction produced by our Plasma Atomization technology; typically, in the 15-45-micron range. Most metal printers use this small/middle fraction.

The third (3rd) type is an inkjet type technology, used, for example, by Desktop Metals, and whereby the powders are coated with a binder to “glue” the powders together. These printers require ultra-fine powder, smaller than the powder required for Laser sintering machines, and a size cut that, until recently, PyroGenesis was not focusing on. There are some printers that use inkjet type technology but only need coarser powders, but we are not reviewing these printers here.

Q. Ok, so PyroGenesis’ Plasma Atomization technology is good at addressing the powder needs of the first two (2) types of metal printers, i.e. EBM and Laser sintering, which combined use a powder size of between 15-106 microns; however, what about the third (3rd) type, the inkjet type technology, that uses the ultra fine, or MIM cut requiring a powder size of between 5-25 microns? What is PyroGenesis doing to address this new market?

A. That is a very good question and one that investors have been asking us as of late, and is, in fact, the essence of our announcement today.

PyroGenesis’ Plasma Atomization technology already produces powders for EBM and Laser Sintering in optimal quality and quantities. To the best of our knowledge, only plasma technology can produce the high-quality powders required for these printers.

Ironically, until the interest by 3D inkjet type metal printers in smaller powder sizes, the MIM cut was considered an undesirable by-product of the Plasma Atomization technology, with most of the economic value residing in the other two cuts encompassing the 15-106 powder size distribution.

In fact, several months ago, the Company was approached by a number of companies who were interested in MIM cut titanium powder and whereby it became apparent to us that the appetite for this ultra-fine powder was significant. As a result, we decided to pause our ramp-up phase to make adjustments to our Plasma Atomization technology in order to try and shift the particle size distribution towards this low end of the spectrum, and produce powders in the range required for such “inkjet” type 3D printing machines.

Q. …and were you successful?

A. Beyond our expectations. We were able to develop this new plasma-based process being announced today which in essence has given us significant control over the powder sizes produced, at significantly higher production rates, at less cost. We can now make MIM cut powders in very large quantities with little to no waste; thereby growing with, and enabling, those requiring ultra-fine powder, and meeting their strategic growth needs.

We believe this breakthrough is, if not more significant, then at least as significant as our original Plasma Atomization technology, and is just the beginning of what we can do with this new plasma-based technology. 

Q. What exactly do you mean by this?

A. It seems that we have not reached the limit of this new plasma-based process. By that I mean that once we achieved our goals (i.e. MIM cut, increased production rates), we backed off in favour of continuing with the ramp-up phase. Given our plasma expertise and our familiarity with the technology, we believe we have not even scraped the surface of what this new process can do with respect to production rates and powder quality.

Q. The bottom line is: have you produced MIM cut or is this all theory and conjecture? Plus, can you give us some indication of what production rates and powder quality you are talking about?

A. We most definitely have recently produced MIM cut titanium powder Grade 5. Grade 5 is the grade currently being requested by the third (3rd) type of inkjet printers mentioned above. Of interest is that not only can we make Grade 5 but it seems, though not yet confirmed, that we can also potentially make Grade 23 in the MIM cut. Grade 23 is the highest-grade titanium powder and, to the best of our knowledge, we know of no other powder producer that can make MIM cut titanium Grade 23, let alone in commercial quantities.

With respect to production rates, we consider that to be confidential information, however, suffice it to say that, we have not read anywhere, (i.e. web sites, articles, recent or otherwise) of any other plasma powder producer whose production rates or powder quality exceeds our capabilities. To the best of our knowledge, there is no single plasma-based powder producer that can produce powder in sufficient quality and quantity to serve the whole market, including the ultra-fine powders (or MIM cut) used by inkjet type printers.

Q. How has all this affected the ramp-up schedule, and if any, what challenges?

A. Interestingly enough, we made all these discoveries/improvements while staying true to the ramp-up schedule, that is to say, ramp-up is still scheduled for completion between the end of this coming September and beginning of October. In fact, we are actually slightly ahead of schedule right now, with production rates continuing to exceed our expectations.

The main challenge right now is how to incorporate the current advances announced today within our current platform, while still maintaining our ramp-up commitment and schedule. The beauty of these discoveries/improvements is that they can be incorporated into our existing platform with little to no increase in capital cost; in fact, ultimately, we expect a decrease in both capital and operating costs as a result. Our current strategy is to maintain the ramp-up schedule while integrating these improvements, as time permits, however, at this stage, it is too early for us to determine whether all these improvements will be fully incorporated by the end of the ramp-up phase.

Apart from that, we are experiencing the regular challenges that come with a ramp-up phase, but nothing that hasn’t been solved or isn’t manageable. All in all, we are more than happy with the progress to date.

Q. One last question. How can you make all these improvements, test different metals, and still be on track for ramp-up?

A. That’s a very good question and one that’s difficult to answer as it’s very difficult to convey in writing the buzz that has engulfed PyroGenesis as of late; not just within our powder production business but also within our other lines as well (Drosrite™, chemical warfare agent destruction, the US Navy, just to name a few), and it is within this energized context that the answer lies.

What is the expression? If you want something done give it to a busy man? Well that applies 10-fold at PyroGenesis these days. We are plasma experts and we have built a team of unique individuals who are passionate about their work and challenges and don’t turn off at 5pm. They are constantly thinking about solutions and improvements be it in the shower or on their drive back and forth to work. It is this truly unique team that that has enabled us to successfully introduce plasma-based solutions across a myriad of industries. 

To put this answer in the context of our ramp-up, one has to understand that the ramp-up phase does not take the system down for the full 24-hour day and it is the prudent allocation of these extra time slots for other activities that allows us to maintain the ramp-up schedule.

Q. Conclusion?

A. We are currently in the 17th week of our ramp-up phase and not only are we on schedule but we have during this period (i) produced other metal powders besides titanium (see our press release dated June 19, 2017), and most importantly (ii) have developed a new plasma-based process to produce metal powders which very well may be as game changing as our original Plasma Atomization technology.

We are plasma experts, we are the inventors of the plasma atomization technology, and we are back as a powder producer. Our goal is to enable AM (i.e. 3D printing) to reach new heights while at the same time address the current powder needs of the industry.

Additionally, the Company announces today that CAN$130,500 of warrants have been exercised. “Once again, this exercise of warrants is timely,” said P. Peter Pascali, President and CEO of PyroGenesis. “As we noted in an earlier press release, we are currently looking beyond the ramp-up phase towards increasing production capacity ahead of our original expectations. This exercise of warrants, together with any future exercise of warrants and options, will enable us to implement plans to accelerate our original schedule to increase our production capacity of metal powders for the Additive manufacturing (3D Printing) Industry. We are still looking at ways to have up to three (3) additional powder production systems operating in 2018. To date, our metal powder production strategy is progressing far better than planned, and we are very pleased.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com

INTERVIEW: Pyrogenesis Goes Beyond the AGM to Discuss Advanced Plasma Processes, Defence Contracts and Much More

Posted by AGORACOM-JC at 11:51 AM on Tuesday, July 18th, 2017

PyroGenesis Announces Receipt of CAN$445,950 Under Existing Military Contract; Plus CAN$300,000 of Warrants exercised $PYR.ca

Posted by AGORACOM-JC at 9:02 AM on Monday, July 17th, 2017

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  • Further to its press release of January 10, 2017, wherein it was announced that the Company had signed two additional military contracts totaling approx. US$1.2MM (CAN$1.6MM)
  • Company has received US$367,982 (CAN$445,950) under one of these contracts.

MONTREAL, QUEBEC–(July 17, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that, further to its press release of January 10, 2017, wherein it was announced that the Company had signed two additional military contracts totaling approx. US$1.2MM (CAN$1.6MM), the Company has received US$367,982 (CAN$445,950) under one of these contracts.

The payment announced today is one of several payments received since January 10, 2017, by PyroGenesis totaling US$925,122 (CAN$1.2MM) under an original contract worth US$978,312 (CAN$1.25MM). The balance of approximately US$53K (CAN$68K) is expected to be received during Q3 2017.

Additionally, the Company announces today that CAN$300,000 of warrants have been exercised. “This exercise of warrants is timely,” said P. Peter Pascali, President and CEO of PyroGenesis. “We are currently looking beyond the ramp-up phase towards increasing production capacity ahead of our original expectations. This exercise of warrants, together with any future exercise of warrants and options, will enable us to implement plans to accelerate our original schedule to increase our production capacity of metal powders for the Additive manufacturing (3D Printing) industry. We are currently looking at ways to have up to three (3) additional powder production systems operating in 2018. Overall, to date, our metal powder production strategy is progressing far better than planned, and we are very pleased.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com
www.pyrogenesis.com

PyroGenesis Announces Receipt of $230,168 Contract for Support During Testing of its Chemical Warfare Agent Destruction System Using Real Chemical Warfare Agents $PYR.ca

Posted by AGORACOM-JC at 8:46 AM on Tuesday, July 11th, 2017

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  • Received a CAN$230,168 contract to provide technical support during the next and final testing phase of its tactical Plasma Arc Chemical Warfare Agents Destruction System
  • Will now be tested using real chemical warfare agents

MONTREAL, QUEBEC–(July 11, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high tech company (the “Company” or “PyroGenesis” or “PCI”) that designs, develops, manufactures and commercializes plasma based systems and plasma torch products, is pleased to announce today that, further to its press release of April 19, 2017, it has received a CAN$230,168 contract to provide technical support during the next and final testing phase (the “Final Testing Phase”) of its tactical Plasma Arc Chemical Warfare Agents Destruction System (“PACWADS” or the “System”) which will now be tested using real chemical warfare agents.

On April 19, 2017, the Company announced that it had, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company’s System with surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and the results far exceeded minimum requirements with over 99.9999% destruction efficiency. The Final Testing Phase, which is expected to take approximately six (6) months, will be conducted using real chemical warfare agents at secure military facilities abroad, and is expected to confirm the results obtained at PyroGenesis’ facilities using surrogate chemical warfare agents.

“We are highly confident that our System will pass the Final Testing Phase particularly given the fact that we significantly exceeded the minimum requirements of 99.99% destruction efficiency using surrogates,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “As previously announced, our System demonstrated more than 99.9999% efficiency using surrogates which emulated destruction of such chemical warfare agents such as sarin (GB), soman (GD), and mustard (HD). This additional contract will allow PyroGenesis to support testing using real chemical warfare agents at a secure site.”

The System has already been shipped to a secure site and the Final Testing Phase begun. These tests are expected to be completed by the end of Q3 2017; however, this timeline is out of the Company’s control.

“If successful, PACWADS will be one of the few technologies in the world capable of destroying chemical warfare agents. We anticipate that such success will open the doors to additional opportunities; for example, the safe destruction of Ebola contaminated material in countries such as Liberia”, said Philippe Beaulieu, Senior Project Manager at PyroGenesis.

“A successfully developed System would safely destroy chemical warfare agent stockpiles onsite without having to transport these highly toxic chemicals to a remote location for processing, and although we would expect additional contracts resulting from a successful completion of the Final Testing Phase no indication has been given as to the size, if any, such procurement would entail,” said P. Peter Pascali, President and CEO of PyroGenesis. “The fact that our System is in the Final Testing Phase reflects the significant advances that we, at PyroGenesis, have achieved, and which we expect to continue to achieve in the area of defense and chemical warfare agent destruction. This only further solidifies our position within the US military as being the ‘go-to’ supplier of plasma-based solutions.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com
www.pyrogenesis.com

PyroGenesis Comments on Unusual Stock Trading Activity; Provides Guidance on Q2-2017 Results $PYR.ca

Posted by AGORACOM-JC at 8:45 AM on Thursday, June 29th, 2017

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“Recent market trading activities may well be difficult to understand, not only from the Company’s perspective, but by shareholders and market players alike,” said P. Peter Pascali, President and CEO of PyroGenesis. “We wish to reassure all of our stakeholders and market participants that the fundamentals of PyroGenesis, in terms of activities previously reported on, as well as the progress being made thereon, are not only sound but are moving forward at a rapid pace.

MONTREAL, QUEBEC–(June 29, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, announces today that it has observed significant and unusual trading in its common stock in recent days. Management knows of no reason that would give rise to such unusual trading and has no significant information to disclose which could lead to such activity. The Company is current on all its regular quarterly filings, has made (in advance) its second quarter interest payment due under its previously completed convertible debenture, and plans to report its second quarter results in August as required by the TSX Venture Exchange.

“Recent market trading activities may well be difficult to understand, not only from the Company’s perspective, but by shareholders and market players alike,” said P. Peter Pascali, President and CEO of PyroGenesis. “We wish to reassure all of our stakeholders and market participants that the fundamentals of PyroGenesis, in terms of activities previously reported on, as well as the progress being made thereon, are not only sound but are moving forward at a rapid pace. Although we have not provided market guidance in the past, we believe, under the circumstances, that it would be most prudent to do so. As such, we can say with certainty that our Q2-2017 results will be significantly better than that posted for the same period in 2016, and in all likelihood will be cash flow positive from an EBITDA (adjusted) basis as well; which will make it the 3rd of the past four quarters that the Company has been cash flow positive on that basis. In short, we have never been better positioned and we are extremely confident with the progress being made across all of our business lines.”

Additional information on the Company is available on SEDAR at www.sedar.com.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com
www.pyrogenesis.com

PyroGenesis Announces Successful Delivery of First Order of Titanium and Inconel Powders Plus Receipt of Third Powder Order During Ramp-Up Phase $PYR.ca

Posted by AGORACOM-JC at 8:55 AM on Monday, June 19th, 2017

  • Signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3D printers
  • Successfully produced and delivered its first powder order
  • “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product…”

MONTREAL, QUEBEC–(June 19, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, is pleased to announce today that not only has it signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3D printers, the name and origin of which will not be disclosed for competitive reasons, but it has also, further to its press release dated April 25, 2017, successfully produced and delivered its first powder order. Of particular note is that this third order was also placed during the ramp-up phase of the Company’s powder production system (the “System”), during which time the Company had no expectations of any powder sales at all. All three orders were from different clients.

“As we previously announced, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made during ramp-up to be very significant as this would further validate our strategic decision to re-enter the market for powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product. As we have said before, although these orders are sample orders, what is truly noteworthy is that they have been received during our ramp-up phase, and the fact that these clients have taken the time to sample our powders and allocate the funds to qualifying them internally, all before the ramp-up phase is complete, is extremely significant.”

“The level of interest in our capabilities has taken us all by surprise as we did not expect this much interest so early on in and, of course, we are happy with the results so far,” said Massimo Dattilo, Vice President of PyroGenesis Additive. “Of note in today’s announcement, is that the first order was not only for Ti-6Al-4V but also for Inconel powder. This is indeed a watershed mark for the Company as it underscores the flexibility in the system and our capabilities as a company; and it has all taken place well ahead of our most aggressive expectations.”

As previously announced, PyroGenesis is the inventor of Plasma Atomization. The Company’s System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing (“AM”) Industry.

The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led to a patent pending.

On March 30, 2017, the Company announced that it had completed the assembly of its first System and that the first powder run exceeded expectations. This System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1 The ramp-up of the System is expected to be completed over the next few months.

“Our team remains focused and dedicated to our commitments to deliver high quality powders to the Additive Manufacturing Industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry”, said Pierre Carabin, Chief Technology Officer of PyroGenesis. “We are on schedule and extremely happy with the continuous increase we are seeing in our process performance.”

Separately, PyroGenesis is also pleased to announce today that it is implementing an online marketing and awareness program through AGORACOM, wherein the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine and social media marketing. In addition, exclusive sponsorships of invaluable digital properties such as the AGORACOM home page, AGORACOM TV, and the AGORACOM Twitter account will serve to significantly raise awareness of PyroGenesis’ business among small cap investors. The PyroGenesis discussion forum can be found at https://agoracom.com/ir/PyroGenesisCanada/forums/discussion.

Additionally, AGORACOM has launched “CEO Verified” Discussion Forums, the first ever verification of small cap executive posts on a finance platform. For the first time ever, small cap CEOs and other company officials can use AGORACOM discussion forums as their main social media platform to post comments and interact with both shareholders and the broader investment community in a fully moderated and verified forum. Posts to AGORACOM are shareable on Twitter, Facebook and LinkedIn. There are no log-in requirements for investors to read posts; those wishing to post questions, comments and interact with PyroGenesis officials can quickly log-in using their Facebook or LinkedIn accounts, or create a new user account.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

SOURCE PyroGenesis Canada Inc.

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com
www.pyrogenesis.com

PyroGenesis Announces Creation of “PyroGenesis Additive”: Division Dedicated to Additive Manufacturing and First Step to Spin-off; Provides General Up $PYR.ca

Posted by AGORACOM-JC at 9:30 AM on Wednesday, June 14th, 2017

Pyr header 1

  • Created a new division under the name of “PyroGenesis Additive“, dedicated solely to PyroGenesis’ additive manufacturing business line
  • First step to the Company’s previously announced strategic spin-off

MONTREAL, QUEBEC–(June 14, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it has created a new division under the name of “PyroGenesis Additive“, dedicated solely to PyroGenesis‘ additive manufacturing business line. This is the first step to the Company’s previously announced strategic spin-off.

PyroGenesis is the inventor of Plasma Atomization, using this process to produce very small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing (“AM”) Industry.

The Company first began producing powders using Plasma Atomization for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led not only to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM Industry.

The following highlights and developments have been made to date:

  • On October 26, 2015, PyroGenesis announced that it was re-entering the market to produce metal powders, specifically for AM (3D printing);
  • On April 7, 2016, PyroGenesis announced its intention to spin-off its additive manufacturing capabilities into an independent public entity;
  • On April 27, 2016, PyroGenesis announced that its 3D metal particle size distribution greatly exceeded expectations;
  • On October 25, 2016, PyroGenesis announced that it had filed a patent for an improved metal powder production process and that the Company was on schedule for a 2017-Q1 assembly and first production run;
  • On January 23 and March 14, 2017, PyroGenesis provided updates and reaffirms that it is on schedule for 2017-Q1 assembly and first production run despite delays with suppliers;
  • On March 30, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, with its first powder run exceeding expectations. The Company also noted that the ramp-up, which was already underway, was expected to take place linearly over approximately four (4) months;
  • On April 25, 2017, PyroGenesis announced receipt of its first powder order from a multinational conglomerate, with the down payment already received, and market interest exceeding expectations; and
  • On June 7, 2017, PyroGenesis announced receipt of its second powder order.

The current production system is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM Industry.1

Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides an update on the developments within PyroGenesis’ AM business line in the following Q&A format:

Q. Very very busy year so far for PyroGenesis and now we see the creation of PyroGenesis Additive.

A. Most definitely. Over the top. Exceeds our wildest expectations on every front.

Q. So are we finally going to see some movement with respect to the spin-off announced in April 2016?

A. Most certainly. The creation of PyroGenesis Additive is definitely the first step in spinning off our AM capabilities, which we announced over a year ago, into a standalone entity. We are dedicated to a spin-off for a number of reasons, all of which speak to increasing shareholder value. A spin-off, should be less complicated to analyze and we feel it would appeal to a larger investor audience who, although interested in investing in the AM Industry, have little or no interest in either understanding, or investing in, our other business lines (i.e. waste destruction, DROSRITE™, PUREVAP™, amongst others), and a spin-off could help avoid this. Concurrently, we feel a spin-off would provide for a clearer, and better defined, entity, which third parties could consider for joint ventures, strategic alliances, or even an acquisition of PyroGenesis Additive.

Q. Why the delay in the spin-off?

A. Simply put: the world of AM has changed significantly since we first announced our intention to spin-off our additive manufacturing capabilities; and, may I add, all for the better for PyroGenesis’ shareholders.

Over a year ago, we announced our intention to start producing speciality powders for the AM Industry which garnered such interest that it became apparent that PyroGenesis’ shareholders might be best served by spinning off this business line.

As such, we announced our intention to spin off our AM capabilities, but while completing our analysis of the various options available, and just when we were about to make a decision, General Electric (“GE”) announced its acquisition of Arcam, in November 2016, for approximately US$700MM. Now this is noteworthy because Arcam’s subsidiary, AP&C, which was acquired by Arcam for Can$35MM in 2014(2), produced powders using PyroGenesis’ old proprietary technology under an agreement which precluded PyroGenesis from competing against AP&C until 2012. Of particular note, through Arcam, AP&C became the dominant supplier of speciality powders to the AM Industry. GE’s acquisition of Arcam, and by extension of AP&C, has effectively disrupted the supply chain of speciality powders in the AM Industry which has caused end users of such powders to re-examine their access to them, all while PyroGenesis is re-entering the market as a supplier of such powders.

It would not have been prudent for us to carry on with a spin-off merely because we announced such intentions a few months earlier, without fully analyzing the ramifications of the changing landscape.

Q. Where does the spin-off stand and what should investors expect?

A. We believe that the delays in the spin-off have essentially created more value for investors when PyroGenesis Additive is eventually spun off. We will have a working system, with dedicated employees contributing solely to the spin-off, thereby reducing risk and creating more value for PyroGenesis’ shareholders. Additionally, since GE’s acquisition of Arcam, there has been significant interest in PyroGenesis’ powder production capabilities and as such, we believe there is a high probability that we will have visibility on, if not signed, contracts for long term powder supply by the time we spin-off PyroGenesis Additive. At this point, we believe the interests of our shareholders are best served if the spin-off were concurrent with the signing of long term contracts.

Q. When could we expect the spin-off to occur?

A. Given the interest in our powders during the ramp-up phase, we are, barring any developments to the contrary, still committed to a spin-off in 2017.

Q. Speak to us about the ramp-up phase. How is it going? Where do you stand? Have there been any significant issues or developments to report?

A. We could not be happier.

We assembled and commissioned the system, and had our first powder run, as promised, by the end of 2017-Q1 despite significant delays from suppliers. Next, our goal was to ramp-up to full capacity over the ensuing four (4) months (i.e. April-July). Our stated goal was to become a leading supplier of high purity powders with an initial focus on producing commercially pure Titanium and Ti-6Al-4V powders, with additional powders/products being developed on a case by case basis. We did not expect any powder sales until ramp-up was complete however, to our surprise, on April 25, we announced having received a sample order from a multinational conglomerate. To top that off, last week we announced receipt of a second sample order, which together we believe speaks to both the confidence in our capabilities and the demand for our product in the marketplace.

These orders, although excellent news, have nonetheless put some pressure on a number of aspects relating to ramp-up; in particular, the orders we received were not only for titanium powders which we are used to producing, but as announced, also for Inconel which we had never processed before.

To make a long story short, ramp-up was put on hold in order to fulfill the order for Inconel, but the following was done successfully. In fact, the powder production rate was far greater than that for Titanium and the Inconel powder was of exceptional quality; proving, amongst other things, the flexibility of our Plasma Atomization System and how quickly we can “pivot”.

All that to say, given these orders, the ramp-up phase has been extended by approximately, 4-6 weeks.

Separately, but in parallel, PyroGenesis’ existing quality control system (ISO 9001:2008 certified) is being expanded to include the additional protocols required by the AM Industry.

Q. Could you please provide an update on the next significant milestone in powder production?

A. Most certainly. We are currently producing flowable powder batch after batch. What is even more noteworthy is the fact that, although our original ramp-up envisioned producing Ti64, we have also successfully produced Inconel powders and are currently in discussions to consider producing additional materials as well.

The next milestone is to move to a 2 shift/day, which we are currently hiring and training for. Given the natural lag that occurs during the summer, we are not expecting this to be completed before the end of August.

Q. Could you give us an indication in terms of production rate and quality of the powders at this stage of the ramp-up phase?

A. Again, we are very happy with the results so far. First and foremost, our production rate is significantly better than what we used to have. The powders already meet or exceed the ASTM specifications and we expect that by the end of the ramp-up phase our Ti64 powders will be of a significantly higher quality.

Additionally, we have adjusted the process to be Tungsten free, something it seems that various industries are interested in, and we are very happy with the results so far. We expect that by year-end, we will be able to guarantee a Tungsten free product.

Q. Any concerns?

A. Yes and no. We have definitely underestimated the interest in our production and it has become apparent that we need to expand our capacity faster than originally planned. We currently have plans to order the long lead items for 3 more systems in anticipation of having to address this need.

Separately, this early interest has caused us to think of adding in-house analytical capabilities and automated sieving processes earlier than planned. All this bodes well for the underlying business as both speak to quicker turnaround time and more reliable post production processing.

Q. In your April 25th press release you noted that you had “…signed a number of agreements with significant and potential players in the AM Industry, wherein the Company is in discussions regarding the possibility of concluding certain business relationships or transactions related to AM, most notably geared to the production of powders…”. Could you elaborate on this?

A. Yes, but in all fairness we did point out that although noteworthy, we cautioned concluding that anything of significance would happen quickly, or even at all. Discussions take time and we are still in the early phases, and that still rings true.

However, we note that we have had discussions with top level metal printer manufacturers, distributors, and end-users; some at our facilities and others at theirs. It is indeed encouraging to see that our product is having the resonance that we thought it would have in the marketplace. The minimum takeaway should be the interest we are garnering from very discerning entities in such a short time frame.

Q. So, in conclusion, you are confident?

A. Absolutely. The decision to re-enter into powder production was the right one. The changes and consolidation in the marketplace over the past year have only underscored this decision. We are the inventors of Plasma Atomization, a process that arguably has helped bring AM to where it is today, and so we can say with confidence, that we are back. We are back to producing, but more so, improving the process that has become the gold standard in the AM Industry.

Q. Your goal?

A. As previously announced, our goal is not only to become a significant producer of metal powders to the AM Industry, but to bring the technology to a new level and enable 3D printing to reach new heights by effectively making our old technology, the gold standard, obsolete. We are making great strides on both fronts, and we have only been up and running for less than 3 months.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

2http://advancedpowders.com/news/arcam-to-make-strategic-acquisition-of-metal-powder-manufacturer-to-secure-supply-of-strategic-raw-materials

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com

PyroGenesis Receives Second Order for 3D Printing Powders During Ramp-Up Phase; Interest in Powders Continues to Increase $PYR.ca

Posted by AGORACOM-JC at 10:29 AM on Wednesday, June 7th, 2017

Pyr header 1

  • Signed its second contract for an order of titanium powder (Ti-6Al-4V) from a US based end user
  • This is second order placed during the ramp-up phase of the Company’s powder production system and exceeds the original expectations for powder sales during this phase

MONTREAL, QUEBEC–(June 7, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and plasma torch products, is pleased to announce today that it has signed its second contract for an order of titanium powder (Ti-6Al-4V) from a US based end user (the “Client”), the name and origin of which will not be disclosed for competitive reasons. Note, this is the second order placed during the ramp-up phase of the Company’s powder production system (the “System”), and exceeds the original expectations for powder sales during this phase.

PyroGenesis‘ System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the additive manufacturing industry.

PyroGenesis is the inventor of Plasma Atomization. The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which not only led to a patent pending, but also to PyroGenesis’ decision to re-enter the market and produce powders for the AM industry. The System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1

“As previously announced on March 30, 2017, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made before such time to be very significant as this would further validate our strategic decision to enter into powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “Although this order is a sample order what is truly noteworthy is it’s the second order we have received during ramp up. The fact that this Client has taken the time to sample our powders and allocate the funds to qualifying it internally, all before the ramp-up phase is complete is extremely significant. The two sample orders received to date exceed our initial expectations for powder sales. We believe that a third sample order received during the ramp up phase would underscore the interest in the marketplace for PyroGenesis‘ products and unique expertise.”

On March 30th, 2017, PyroGenesis announced that it had completed the assembly of its first powder production system, and that the first powder run exceeded expectations. The ramp-up that was already underway was expected to take place over the ensuing (4) months (April-July).

“We note that so far the operational performance and progress to date, during the ramp-up phase, far exceed our expectations,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “Our team remains focused and dedicated to our commitments to deliver high quality powders to the additive manufacturing industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry.”

“These continue to be very exciting times for PyroGenesis,” said Mr. Pascali. “This second order, and although noteworthy, we continue to be cautious from concluding that anything of significance will happen quickly. Discussions take time and we are still in the early phases. Suffice it to say at this point that there have been no disappointments and we continue to be happy with the progress and developments to date.”

The Company will be issuing an in depth update on the progress of its Powder Production business line within the next week where a review will take place on all aspects of that sector.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com or rkafal@pyrogenesis.com

 

PyroGenesis Q1 2017 Results: Cash Flow Positive on EBITDA (Adj.) Basis; Revenues Increase 67%; Gross Margins Increase to 52%; Current Backlog $9.4MM $PYR.ca

Posted by AGORACOM-JC at 10:41 PM on Tuesday, May 30th, 2017

Pyr header 1

  • Revenues increased 67% to $1.7MM in Q1 2017 from $1.0 MM posted in Q1 2016;
  • Gross profit after amortization of intangible assets increased to 52% in Q1 2017, from – 5.5% over the same period in 2016. (Gross profit before amortization of intangible assets increased to 52% in Q1 2017 from 29% over the same period in 2016);
  • Most importantly, Q1 2017 was profitable on an EBITDA (adjusted) basis. Q1 2017 posted an EBITDA (adj.) of $22.6K versus a EBITA (adj.) loss of $649.5K;

MONTREAL, QUEBEC–(May 30, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the first quarter ended March 31, 2017.

Q1 2017 results reflected the following highlights:

  • Revenues increased 67% to $1.7MM in Q1 2017 from $1.0 MM posted in Q1 2016;
  • Gross profit after amortization of intangible assets increased to 52% in Q1 2017, from – 5.5% over the same period in 2016. (Gross profit before amortization of intangible assets increased to 52% in Q1 2017 from 29% over the same period in 2016);
  • Most importantly, Q1 2017 was profitable on an EBITDA (adjusted) basis. Q1 2017 posted an EBITDA (adj.) of $22.6K versus a EBITA (adj.) loss of $649.5K;
  • Over $13.5MM in contracts were signed, and work begun on, since June 30, 2016 which, taken in context of historic revenues (2016: $5.2MM; 2015: $6.2MM; 2014: $5.8MM) is quite significant. Backlog of signed contracts as of the date of this writing is $9.4MM;
  • Cash on hand at March 31st 2017 was $1.3 MM (December 31st 2016: $385K).

At year end 2016, we described the preceding twelve months as being a pivotal year for PyroGenesis as the Company shifted its focus away from being a fabricator of plasma-based systems that produced unique titanium powders, in favour of becoming a producer of metal powders for the Additive Manufacturing Industry (the “Industry”). Given their unique properties (pure, small, spherical, and uniform; which make them flow like water), these powders are greatly sought after in the Industry, particularly 3D printing. Given this strategic shift, together with the backlog of signed contracts from our non-additive manufacturing business (“Core/Traditional Lines of Business”) of over $13MM since June 30, 2016, we projected that 2017 was shaping up to be a break out year for PyroGenesis, and Q1 2017 has not disappointed.

The Company will be issuing an in depth update on the progress of its Powder Production business line within the next two weeks where a review will take place on all aspects of that sector. Suffice it to say at this point that there have been no disappointments and we are very happy with the progress and developments to date.

What is key to note is that these results reflect revenues from what we call our Core/Traditional Lines of Business (ie no revenues from powder sales at all), however expenses reflect certain costs of building our first powder production system which came on stream in Q1 2017 and is, as previously announced, currently ramping up to full production.

We are more convinced than ever before that 2017 is the breakout year we have been positioning the Company for, for a number of reasons:

  • The healthy gross margins established in 2016 (before consideration of the 2016 write- offs), have improved, and are expected to continue to improve once powder production is in full swing;
  • Established backlog of signed contracts, the majority of which are expected to be completed in 2017;
  • Our Core/Traditional Lines of Business are poised to contribute significantly to the bottom line and be both profitable and significant in their own right.

The following is a non-exhaustive review of PyroGenesis‘ main commercial activities:

  1. Powder Production: The Company has met every milestone announced on the road to making metal powders for the Industry. It was recently announced that the assembly of the first powder production system was completed and that the first powder run exceeded expectations. The ramp up is under way and is expected to take place linearly over the ensuing months. As announced in recent press releases interest has far exceeded Managements’ expectations and an initial contract was signed for a sample amount of powder. Also recently announced was the fact that the Company has signed a number of agreements with significant and potential players in the Industry reflecting various discussions regarding the possibility of concluding certain business relationships or transactions geared to the production of powders. The current system is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the Industry1.
  2. DROSRITE™: The DROSRITE™ Furnace System was proven out at a North American customer’s Mexican facility during the first half of 2016. Soon thereafter, a successful demonstration of the DROSRITE™ System in the Middle East took place, following which an unsolicited request to exclusively market the process in the region was received and is currently being discussed. Management’s belief that the supply and installation of the first commercial sale in North America would enable the Company to leverage this success to generate a continued flow of orders for additional DROSRITE™ systems is being borne out. This recent flurry of activity and interest for the DROSRITE™ system bodes well for 2017 where we now expect to have at least 3 orders placed. We continue to expect the first follow on contracts to be signed in the 2nd half of 2017. The market potential for PyroGenesis’ DROSRITE™ system, from Aluminium dross alone, exceeds $400MM.
  3. HPQ: On August 2, 2016 PyroGenesis announced that it had signed contracts totalling CDN $8,260,000 with HPQ Silicon Resources Inc., formally Uragold Bay Resources Inc. for the sale of IP and to provide a 200 metric tonne (MT) per year PUREVAP™ pilot system to produce silicon metal directly from quartz. This system will for the most part be constructed in 2017, with advancement of the contract accelerating in the second half of the year. According to percent completion accounting standards for revenue recognition the majority of these revenues will be recognized in the 2nd half of 2017. Of note, if successful, PyroGenesis benefits from a 10% royalty on all revenues derived from the use of this system by HPQ, subject to annual minimums.
  4. Chemical Warfare Destruction System: The Company recently announced that PyroGenesis has, in coordination with the US-based Southwest Research Institute (SwRI), successfully completed long-duration performance tests using the Company’s tactical Plasma Arc Chemical Warfare Agents Destruction System (“PACWADS”) using surrogate chemical warfare agent material. These tests supported the Defense Advanced Research Projects Agency (DARPA) Agnostic Compact Demilitarization of Chemical Agents (ACDC) program and far exceeded minimum requirements with over 99.9999% destruction efficiency. The PACWADS has, as of this writing, been delivered to the testing site and is currently going through final testing using real chemical warfare agents. These tests should be completed by the end of Q3 2017 (this timeline however is out of the Company’s control). Again this bodes well for 2017 as we would expect additional contracts resulting from a successful completion of the final testing. However, no indication has been given as to the size, if any, such procurement would entail.
  5. Other Contracts: There are other contracts being discussed (such as a third order for a PAWDS for a New US Aircraft Carrier which is expected to be ordered sometime towards the end of 2017/beginning of 2018 with an estimated value of approximately $6MM; SPARC system sales, amongst others) which give us confidence that 2017 will be the break out year.
1 Wohlers Report 2016 (ISBN 978-0-9913332-2-6)

Given the above, we expect a strong performance in the coming year, and based on existing contracts, the Company expects to be profitable in 2017 (excluding any contribution from powder sales) as noted above. Our projections for 2017 are only heightened by the reception we have received so far and how our entrance as a powder producer has been so well received by the Additive Manufacturing community.

Management remains focused on reducing PyroGenesis’ dependency on long-cycle projects by developing a strategic portfolio of volume driven, high margin/low risk products that resolve specific problems within niche markets, and doing so by introducing these plasma-based technologies to industries that have yet to consider such solutions.

Management is also actively targeting recurring revenue opportunities that will generate a growing, and profitable, regular cash flow to the Company.

PyroGenesis has one of the largest concentrations of plasma expertise in the world, with over 250 years of accumulated technical experience and 59 patents, combined with unique relationships with major Universities performing cutting edge plasma research and development, which positions the Company well to execute upon its various strategies.

Financial Summary

Revenues

The Company posted revenues of $1,696,138 in the first quarter of 2017 (“Q1, 2017”), representing an increase of 67% compared with $1,016,853 recorded in the first quarter of 2016 (“Q1, 2016”). Revenue recorded in Fiscal 2016 was generated primarily from (i) the sale of intellectual property and development of a vacuum arc reducing process to convert Silica into high purity Silicon metal, (ii) manufacture and further field testing of Tactical PACWADS, the first mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, (iii) the demonstration of the viability of PyroGenesis’ existing plasma chemical warfare agent destruction platform with locally available materials, for the complete eradication of chemical warfare agents without creating hazardous by-products, and (iv) support services related to PAWDS-Marine systems supplied to the US Navy.

Cost of Sales and Services and Gross Margins

Cost of sales and services before amortization of intangible assets was $820,864 in Q1, 2017, representing an increase of 13% compared with $723,256 in Q1, 2016. Total costs of sales and services, was $820,264 representing a decrease of 24% compared with $1,072,524 in Q1, 2016.

Various factors, including, but not limited to, the mix of long and short-term manufacturing projects, project complexity and scale, and project R&D content, may significantly impact both the composition and overall level of cost of sales and services reported in a given period, as the mix of labor, materials and subcontracts may be significantly different.

The costs incurred in Q1, 2017 are primarily attributable to the work completed under PyroGenesis’ project to develop a vacuum arc reducing process to convert Silica into high purity Silicon metal, work completed on the tactical mobile plasma system for destruction of chemical warfare agents under contract with an international military consortium, and support services related to PAWDS Marine systems supplied to the US Navy.

Investment tax credits recorded against cost of sales are primarily related to client funded projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits increased to $132,246 in Q1, 2017, compared with $108,815 in Q1, 2016. This represents an increase of 22% quarter-over-quarter. The Company continues to make investments in research and development projects incorporating the involvement of strategic partners and government bodies.

In Q1, 2017, the gross margin before amortization of intangible assets was $875,874, which represents 51.6% of revenue. This compares with a gross margin before amortization of intangible assets of $293,597 (28.9% of revenue) for Q1, 2016.

The amortization of intangible assets of Nil in Q1, 2017 ($349,268 in Q1, 2016) relates to the licenses and know-how purchased in 2011 from a company under common control. This expense is a non-cash item and the underlying asset was fully amortized by December 31, 2016.

Selling, General and Administrative Expenses

Selling, general and administrative expenses (“SG&A”) for Q1, 2017 were $1,148,916, representing an increase of 10% compared with $1,048,915 reported for Q1, 2016. Excluding the costs associated with share-based compensation (a non-cash item in which options vest over a four year period), SG&A expenses increased by 3% in Q1, 2017 compared with Q1, 2016.

The increase in SG&A expenses is attributable to the net effect of (i) a decrease of 2% in employee compensation, (ii) an increase of 10% for professional fees, primarily due to increase in investor relations, (iii) a decrease of 1% in office and general expenses, due to a decrease in courses and seminars, (iv) travel costs increased by 6%, due to an increase in travel abroad, (v) depreciation on property and equipment decreased by 22%, (vi) government grants decreased by 100% due to lower level of activities supported by such grants, (vii) other expenses increased by 1%, primarily due to the reduced cost of freight and shipping, and (viii) an increase in share base payments of 12% primarily due to the vesting structure of the stock option plan and the stock options offered on September 25, 2016.

Total Comprehensive Loss

The comprehensive loss for Q1, 2017 was $298,610 compared to a loss of $1,248,661 in Q1, 2016, representing a decrease of 76% quarter-over-quarter.

The decrease of $950,051 in the comprehensive loss in Q1, 2017 is primarily attributable to: (i) an increase in product and service related revenue of $679,285, (ii) an increase in cost of sales and services totaling $97,009 as explained above, (iii) an increase in SG&A expenses of $100,002 as explained above, (iv) an increase in R&D expenses of $25,187 primarily due to the fact that many of the Company’s engineering and R&D resources were concentrated on activities within projects under construction for clients, with such costs being recorded within cost of sales, (v) an increase in net finance costs of $6,647 due to an increase in accretion costs on convertible debentures, (vi) an increase in finance income of $150,343 due to the adjustment of the fair market value of other investments.

EBITDA

The EBITDA loss in Q1, 2017 was $115,565 compared with an EBITDA loss of $715,937 for Q1, 2016, representing a decrease of 84%.

Adjusted EBITDA gain in Q1, 2017 was $22,586 compared with an Adjusted EBITDA loss of $649,506 for Q1, 2016. The increase of $672,092 in the Adjusted EBITDA in Q1, 2017 is mainly attributable to the decreased comprehensive loss of $950,051, a decrease in depreciation on property and equipment of $7,058, a decrease of $349,268 in amortization of intangible assets, offset by an increase in finance charges of 6,647 and an increase in share-based payments of $71,720.

Liquidity

As at March 31, 2017, the Company had cash on hand of $1,278,447 and negative working capital of $6,004,376 compared with a cash balance of $385,257 and negative working capital of $2,079,353 as at December 31, 2016.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

PyroGenesis Canada Inc.
Mr. P. Peter Pascali
President and CEO
(514) 937-0002
ppascali@pyrogenesis.com

PyroGenesis Provides 2nd Progress Report to HPQ Silicon Resources; 62% Increase in Impurity Removal; 531% Yield Increase $PYR.ca

Posted by AGORACOM-JC at 8:48 AM on Tuesday, May 16th, 2017

Pyr header 1

  • Submitted  “Update on the PUREVAP™ progress report to HPQ Silicon Resources Inc.
  • 62% Increase in Impurity Removal
  • 531% Yield Increase

MONTREAL, QUEBEC–(May 16, 2017) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, is pleased to announce today that, further to its press release dated January 26, 2017, it has submitted a progress report to HPQ Silicon Resources Inc. (“HPQ”) entitled “Update on the PUREVAP™ Process Characterization Testing #2“, which covers the period since the last technical report. The salient points of the report are significant in that they validate the systematic and methodical approach to the lab scale test purification work, and the scaling up of the process to convert quartz into high purity silicon metal.

The report confirms that recent, and ongoing, modifications to the PUREVAP™ process have resulted in: (i) a 62% improvement in the impurity removal capacity of the system using low purity quartz as feedstock and (ii) a 531% increase in yield of the silicon (Si) produced.

“We are pleased with the progress to date,” said Pierre Carabin, Chief Technology Officer of PyroGenesis. “We have now reached a stage where we can start testing using high purity feedstock which will allow us to validate the impurity removal capacity of the lab scale reactor and ultimately, to further improve the product purity.”

Having successfully secured access to high purity quartz (99.5% SiO2), the next phase will apply high efficiency impurity removal techniques to this higher purity feedstock. The objective of using a higher purity feedstock is to test the ability to reach the 5N (99.999%) benchmark at lab scale, and furthermore, to provide additional data which will help PyroGenesis with the final design of the pilot plant reactor. These tests will commence as soon as the latest process improvements are completed.

“These results demonstrate that the PUREVAP™ QRR quartz purification process can continue to be successfully improved while using low purity feedstock at the bench scale. This represents yet more important technical milestones being reached in our path toward production of Solar Grade Silicon Metal. At this stage of our development, we continue to pass critical milestones consistently and must continue our ‘iterative’ approach of incrementally increasing size, and purity step by step”, said Bernard Tourillon, Chairman and CEO of HPQ. “Building on our scaling up success to date, the coming months should allow us to continue to make improvements to our scaling up program, while simultaneously testing for the best and greenest pathway to produce 5N (99.999% Si) Solar Grade Silicon Metal at lab scale, prior to start-up of the Pilot plant scheduled for 2018.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit www.pyrogenesis.com

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

SOURCE PyroGenesis Canada Inc.

PyroGenesis Canada Inc.
Rodayna Kafal
VP, Investor Relations and Communications
(514) 937-0002
ir@pyrogenesis.com
rkafal@pyrogenesis.com