MONTREAL, May 31, 2019 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, wishes to clarify today, due to numerous inquiries, the transaction that took place yesterday wherein it was announced that the CEO, Mr. Photis Peter Pascali, had increased his beneficial ownership in the Company to 52.82% from 50.37%, an increase of approximately 2.5%.
As this transaction involved the CEO, a significant investor in the Company, the Company was obliged to issue an early warning report which regretfully has caused confusion.
In the transaction, Mr. Pascali acquired 3,385,715 Common Shares, plus Warrants for C$1,862,143.25.
The Company would like to clarify the fact that this was not a private placement, no money was received by the Company and no new shares or warrants were issued by the Company.
It was announced that Mr. Pascali acquired the Common Shares and Warrants for investment purposes and may, from time to time, acquire or dispose of ownership or control or direction over some or all of the existing securities or over additional securities of PyroGenesis.
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 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.
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SOURCE PyroGenesis Canada Inc.
For further information please contact: Clémence Bertrand-Bourlaud, Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
RELATED LINKS: http://www.pyrogenesis.com/