AGORACOM Small-cap Investor Relations Blog

• 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/

• Company has successfully completed the Factory Acceptance Testing witnessed by RISE Energy Technology Center AB (the “Client”) at PyroGenesis’ facility in Montreal,
• Received payments totaling €643,196 (approx. Can$936K).
• Contract, originally announced last January, is for a 900-kW plasma torch system which was won in a competitive bid announced by the Client.

MONTREAL, Sept. 18, 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, further to previous press releases with respect to the Swedish torch contract  (January 7th, January 17th, and February 21st 2019), the Company has successfully completed the Factory Acceptance Testing (“FAT”) witnessed by RISE Energy Technology Center AB (the “Client”) at PyroGenesis’ facility in Montreal, and has received payments totaling €643,196 (approx. Can$936K).

This Contract, originally announced last January, is for a 900-kW plasma torch system which was won in a competitive bid announced by the Client.

This FAT was held at PyroGenesis’ manufacturing facility where the Client evaluated the equipment during, and after, the assembly process by verifying that the torch was manufactured and operated in accordance with design specifications. After successful testing, the torch was shipped to Sweden, and is expected to arrive today, September 18th. PyroGenesis’ team has arrived at the Client’s facility to perform Site Acceptance Testing (“SAT”), as well as oversee the installation of the torch.

“The success of this testing paves the way for a significant business opportunity for PyroGenesis in developing zero carbon emission technologies. This torch is being used to address a particular segment of the Swedish government’s commitment to zero carbon emissions; specifically, that within the iron ore pelletization industry. The goal is to replace the traditional diesel burners used in iron ore pelletization with plasma torches,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “Our plasma torch expertise, which we consider to be one of the largest, if not the largest, concentration of plasma expertise under one roof, has enabled us to deliver this high-power plasma torch (~ 1 MW range) in only 9 months, and to very exacting design requirements. This contract is aimed at developing fossil-free energy-mining-iron-steel value chains and thereby provides a basis for governance and industrial strategies for transformative change across all of Sweden. We are proud to be playing a significant, and leadership, role in Sweden’s zero carbon emission policy.”

Of note, PyroGenesis’ 900-kW plasma torch is to be used to replace fossil fuel burners in the iron ore induration (pelletization) process. Pelletization is the process in which iron ore is concentrated before shipment, thus significantly reducing the cost of transportation. In conventional technology, the process heat is provided by diesel/fuel burners. The combustion, in the burners, of natural gas, heavy oil and/or pulverized coal results in the production of greenhouse gases such as CO2. Plasma torches are therefore an environmentally friendly alternative.

According to management a typical pellet plant producing 10 million metric tonnes of pellets annually, emits approximately one million metric tonnes of CO2. The total world pellet production of 400 million metric tonnes of pellets corresponds to the production of about 40 million metric tonnes of CO2, and represents a potential market for torch sales in excess of $10B worldwide.

Separately, the Company announces today that, subject to regulatory approval, it has retained Independent Trading Group (“ITG”) to provide market making services to the Company in compliance with the policies and guidelines of the TSXV and other applicable legislation.

The agreement with ITG is principally for the purposes of maintaining market stability and liquidity of PyroGenesis’ shares and is not a formal market making agreement. There are no performance factors contained in the agreement between ITG and the Company and ITG will not receive any shares or options from the Company as compensation for the services it will render.

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/