- Announced today that it intends to implement a normal course issuer bid through the facilities of the Toronto Stock Exchange or alternative trading systems.
- Pursuant to the NCIB, PyroGenesis may purchase, from time to time, over a period of 12 months starting January 14 th, 2021 and ending January 13th , 2022, up to 5,000,000 common shares (approx. 3.14% of its common shares issued and outstanding as of January 4 th, 2021).
MONTREAL, Jan. 12, 2021 — PyroGenesis Canada Inc. ( http://www.pyrogenesis.com ) (TSX: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it intends to implement a normal course issuer bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”) or alternative trading systems.
Pursuant to the NCIB, PyroGenesis may purchase, from time to time, over a period of 12 months starting January 14 th , 2021 and ending January 13 th , 2022, up to 5,000,000 common shares (approx. 3.14% of its common shares issued and outstanding as of January 4 th , 2021). As of January 4 th , 2021, there were 159,145,992 common shares of PyroGenesis issued and outstanding. On any given day, during the NCIB, PyroGenesis may only purchase up to 83,342 common shares, which is equivalent to 25% of the Average Daily Trading Volume of 333,370 calculated based on the trading volumes on the TSX from November 20 th , 2020 (being the first day PyroGenesis was listed on the TSX) to December 31 st , 2020.
Purchases under the NCIB may commence as of January 14 th , 2021 and will end on the earlier of: (i) January 13 th , 2022; or (ii) the date on which the Company has purchased the maximum number of common shares to be acquired under the NCIB. All purchases made by the Company will be through Pollitt & Co. Inc. acting on behalf of the Company. The purchases will be made in accordance with the rules of the TSX, through the facilities of the TSX or through alternative trading systems. The actual number of common shares which will be purchased, and the timing of such purchases, will be determined by the Company, and the price which the Company will pay for the common shares will be the market price at the time of the purchase. The common shares purchased under the NCIB will be cancelled.
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Tags: 3D Systems Corporation, drosrite, Northrop Grumman Corporation, plasma, plasma torch, powders, PUREVAP, tsx