PyroGenesis Comments on Recent Trading Activity
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) addresses investor inquiries regarding recent trading activity, confirming that all material information has been disclosed and that none of its contracts are at risk. The company emphasizes that its share price may not reflect its underlying value, especially concerning growth opportunities. In response, it plans to repurchase shares under its Normal Course Issuer Bid (NCIB), stating this is a beneficial use of corporate funds. PyroGenesis continues to progress on current and future projects in advanced plasma technologies.
- Commencement of share repurchase under Normal Course Issuer Bid (NCIB), indicating confidence in company value.
- No disclosed contracts are at risk, ensuring project continuity.
- Ongoing progress on current and prospective projects highlights operational stability.
- None.
MONTREAL, Nov. 18, 2021 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://www.pyrogenesis.com/) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases, issues this press release in response to an inordinate number of investor inquiries relating to recent trading activity.
The Company prefers not to opine on stock price and trading activity, however, given the recent inquiries from investors, the Company confirms that everything material has been disclosed by the Company in either its press releases or financial reports. PyroGenesis further confirms that none of the contracts previously disclosed are at risk. Last, but not least, the Company wishes to reassure PyroGenesis’ investors that the Company remains on track with current and prospective projects.
Furthermore, the Company believes that the market price of the Company's common shares may not, from time to time, reflect the underlying value of the Company, particularly its growth opportunities. Accordingly, the Company is starting to purchase common shares under the existing Normal Course Issuer Bid (“NCIB”) and will report such purchases as required by regulators. The Company will not be obliged to provide further updates with respect to its continuation, or otherwise, under the NCIB. The Company believes that the proposed purchasing of its common shares is in the best interests of the Company and represents an appropriate use of corporate funds.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases, and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. 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 Company'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 Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.sec.gov. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company 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 Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the NASDAQ Stock Market, LLC accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
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