Pyrogenesis Canada Inc - PYR STOCK NEWS

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced the successful completion of a non-brokered private placement on October 19, 2022, raising gross proceeds of $1,318,980 by issuing 1,014,600 units at $1.30 each. Each unit comprises one common share and a purchase warrant exercisable at $1.75 until October 19, 2024. The funds raised will support working capital and general corporate purposes. Notably, the closing price on the previous trading day was $1.17.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) has announced the suspension of its contract for a land-based system to destroy PFAS chemicals, initially awarded after a competitive bidding process. CEO P. Peter Pascali emphasized the decision was based on protecting intellectual property developed during the project’s pilot phase. Although the contract was halted, Pascali reiterated the company’s technological capabilities in addressing PFAS disposal and stated that they are exploring similar opportunities in the USA. The firm maintains a commitment to shareholder interests.

PyroGenesis Canada (TSX: PYR) has announced a significant milestone with the initiation of operational testing for its Gen3 PUREVAP™ Quartz Reduction Reactor (QRR) pilot plant. This groundbreaking facility is designed to convert quartz into high-purity silicon in a single step, aiming to lower costs and reduce carbon footprints. PyroGenesis will receive a 10% royalty on HPQ Silicon's sales as part of their collaboration. The PUREVAP™ process is poised to contribute to sustainable energy solutions, playing a crucial role in the decarbonization of the economy by 2050.

On October 4, 2022, PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced a payment of approximately $682,000 received under its exclusivity contract with Drosrite International LLC (DI). This payment aligns with a revised schedule to support the end user's cash flow amid challenges such as COVID-19 and supply chain issues. PyroGenesis expects additional payments from DI in the near future as part of their strategic agreement. The company specializes in advanced plasma processes and sustainable solutions aimed at reducing greenhouse gas emissions.

PyroGenesis Canada Inc. has reached a pivotal stage in its qualification process for metal powder production, completing an audit by a tier one global aerospace company. This marks a significant advancement in their goal to become an approved supplier of titanium powder. The company is now making requested modifications to proceed with the delivery of final samples for testing. With a unique manufacturing process aimed at dominating the titanium powder market, PyroGenesis targets a Q4 2022 / Q1 2023 timeline for final approval. The firm maintains a strong competitive position in advanced plasma technologies.

PyroGenesis Canada Inc. has been selected to provide its SPARC™ refrigerant waste destruction system for a confidential Client in the Southern hemisphere. The project, with costs ranging from USD$2-5 million per system, is expected to culminate in a contract by the end of Q2 2023. This system is intended to ensure carbon-free destruction of ozone-depleting refrigerants, aligning with increasing global regulations on hazardous waste disposal. The project timeline is approximately 18 months post-contract signing, signaling a commitment to environmentally-friendly solutions in waste management.

MONTREAL, Sept. 09, 2022 – PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced the termination of its automatic securities disposition plan (ASDP) on 800,000 common shares. This decision, approved by the Board of Directors, was made to prevent potential market disruptions from a rapid sale of shares. The termination occurred without any material non-public information being possessed by Mr. Pascali or the Trust. PyroGenesis specializes in sustainable plasma processes that reduce greenhouse gases and has established its competitive edge in several key industries.

PyroGenesis Canada Inc. has been selected by an unnamed international magnesium producer to test its zero-emission plasma torches for transforming mining waste into high-value metal. The contract involves two initiatives: cleaning hydrocarbon by-products from magnesium production and recovering valuable metals from dross, which is often discarded. The company has received a small purchase order for the first initiative, with testing expected to conclude in Q4 2022. The move reflects PyroGenesis' focus on sustainable solutions in the magnesium industry, responding to increasing demand and supply challenges.