- Announced today that it is calling a Special Meeting of Shareholders scheduled for November 21st, 2019, to increase the number of directors and to elect a new Board.
- The total number of Board members will now be increased to seven (7), five (5) of whom will be independent.
MONTREAL, Sept. 23, 2019 – PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: 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, announced today that it is calling a Special Meeting of Shareholders scheduled for November 21st, 2019, to increase the number of directors and to elect a new Board. The total number of Board members will now be increased to seven (7), five (5) of whom will be independent. Of those directors proposed, three (3) will be new and include the following:
- Dr. Virendra Jha, Member of the Order
of Canada and former Vice President for Science, Technology and Programs
and Chief Engineering Adviser at the Canadian Space Agency (CSA);
- Mr. Michael Blank, CPA, CA, over 30 years of experience in finance and accounting;
- Mr. Alexander Pascali, Senior Business
Development Manager at PyroGenesis with more than 10 years of experience
in business, strategy, and marketing.
The full slate of directors proposed are as follows who, once
elected, will be confirmed in their respective offices by the Board:
- Mr. Andrew Abdalla, CPA, CA as Chair of the Board and Acting Chief Financial Officer;
- Mr. P. Peter Pascali as Chief Executive Officer, President and Director;
- Mr. Michael Blank as Chair of the Audit Committee;
- Mr. Robert M. Radin as Director;
- Dr. Virendra Jha as Director;
- Mr. Christopher Twigge-Molecey as Director;
- Mr. Alexander Pascali as Director.
The proposed slate of directors is a result of a thorough process
wherein the candidates were selected with a view of complementing the
strategic plan which the Company has been executing over the past 18
months.
“I am proud that our Board is actively involved in every aspect of
our business and we are pleased to propose these three new directors
whose expertise is highly relevant to our future and will further
strengthen our current mix,†said Mr. P. Peter Pascali, President and
CEO of PyroGenesis.
About Dr. Virendra Jha
Dr. Jha has over 42 years
of experience in the Canadian Space Program ranging from in-depth
engineering work to senior management positions in both the Private and
the Public Sectors. Dr. Jha began his space career in 1972 when he
joined the Aerospace group of RCA Limited Montreal, which later became
Spar Aerospace Limited. In 1988, he became the Director of Engineering
at Spar Aerospace Limited. In 1991 Dr. Jha joined the Canadian Space
Agency as Director of the Space Mechanics Group. In 1996, he was
promoted to the position of Director General, Space Technologies Branch
of the CSA. From 2003 till 2008, he was the Vice-President responsible
for Science, Technology and Programs at the Canadian Space Agency. As
Vice President, Dr. Jha provided strategic direction, vision and
leadership to all core technical sectors of the Agency. From November
2005 until February 2006, Dr. Jha also served as the Acting President of
the Canadian Space Agency. He was Chief Engineering Adviser at the
Canadian Space Agency until his retirement in 2014.
Dr. Jha received his B. Tech. degree in Mechanical Engineering from
the Indian Institute of Technology Delhi India, his Master’s degree in
Mechanical engineering from McMaster University, Hamilton, Canada, and
his Ph.D. degree in Mechanical Engineering from Concordia University,
Montreal, Canada and the C.Dir. (Chartered Director) Degree from
McMaster University, Hamilton, Canada.
Dr. Jha’s technical contributions in Canadian Space Program as well
as in International Space activities have been significant. His
leadership and commitment to the profession is reflected by his
recognition and active participation in many groups, committees and
advisory boards.
About Mr. Michael Blank
With
over 30 years of executive experience in leading finance and operations
for private and public organizations, Michael has a sound professional
judgement in business plan preparation, budgeting, cash flow management
and internal control implementation. As the Chief Financial Officer of
global publicly held corporations, Mr. Blank has gained significant
experience in financial reporting, accounting, finance and capital
management, investor relations, and international operations.
Michael has acquired an extensive knowledge of taxation and audit
over 10 years at KPMG, a leading international public accounting and
consulting firm in Canada and Europe. Adept at explaining complex
accounting and tax rules and their impacts on businesses, he provided
corporate tax consulting and the information clients rely on to make
strong business decisions.
Michael holds a bachelor’s degree in commerce with finance and
accounting major with honors, from Queen’s University and a Diploma in
Public Accounting from McGill University. Michael is a designated
Chartered Professional Accountant (CPA), and qualifies as a Chartered
Accountant (CA).
About Mr. Alexander Pascali
With a strong
background in marketing, Alexander has been actively involved over the
past ten (10) years in all aspects of the Company, which has culminated
in his current leadership position in business development. Alexander
has also been intimately involved in the formation and implementation of
the Company’s strategic direction. He has been instrumental, and the
driving force behind the Company’s largest transactions, including the
recently announced potential $20M contract.
About PyroGenesis Canada Inc.
PyroGenesis Canada
Inc., a high-tech company, is the world leader in the design,
development, manufacture and commercialization of advanced plasma
processes and products. 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 9001:2015 and AS9100D
certified, and have been ISO certified since 1997. PyroGenesis is a
publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker
Symbol: PYR) and on the OTCQB Marketplace. 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
Corporation’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
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’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 Corporation 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 OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact:
Rodayna Kafal, Vice President Investors Relations and Strategic Business Development, or
Clémence Bertrand-Bourlaud, Marketing Manager/Investor Relations,
Phone: (514) 937-0002, E-mail: [email protected]
RELATED LINKS: http://www.pyrogenesis.com/
