PyroGenesis Announces Corporate Name Change

Rhea-AI Summary

PyroGenesis Inc., a company specializing in plasma processes and sustainable solutions for reducing greenhouse gases, has announced its corporate name change from PyroGenesis Canada Inc. to PyroGenesis Inc. (French version: PyroGènese Inc.). The change reflects the company's international presence across 21 countries but involves no restructuring or control changes. Trading symbols remain unchanged (TSX: PYR, OTCQX: PYRGF).

Additionally, the company has relocated its headquarters to 1100 René-Lévesque Boulevard West in downtown Montreal, moving from its 30-year location in Griffintown to accommodate growth and provide better accessibility.

Positive

• International expansion confirmed with presence in 21 countries
• Company growth evidenced by need for larger headquarters

Negative

• None.

Corporate headquarters move to larger downtown Montreal location

MONTREAL, Nov. 12, 2024 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, is pleased to announced that the Company’s name has been changed to PyroGenesis Inc. from PyroGenesis Canada Inc. Simultaneously, the French version of the Company’s name has changed to PyroGènese Inc. from PyroGènese Canada Inc.

“This change to our name is a subtle but important change as it better reflects who we are and what we are doing,” noted P. Peter Pascali, President and CEO of PyroGenesis. “With sales across 21 countries and counting, this name change is part of an initiative to better express in all areas of communication that we are an internationally focused company with global reach.”

This name change does not involve any restructuring, change of control, or other corporate reorganization. This decision solely pertains to a more inclusive and internationally resonant brand image. The name change does not affect trading of the Company’s shares. The shares will continue to trade on the TSX under the symbol PYR and through the OTCQX under the symbol PYRGF. The new corporate name was effective on the Canadian and US capital markets as of November 11, 2024, with no change to the stock symbols.

Additionally, the Company is pleased to announce that it has recently moved its headquarters to a larger location in downtown Montreal. The move comes as a result of the Company having outgrown its previous headquarters after more than 30 years in Montreal’s historic Griffintown neighbourhood. The new office location resides in the heart of downtown near Montreal Central Station, the Queen Elizabeth Hotel, and the Bell Centre arena (home of the Montreal Canadiens), and provides more modern amenities and a smarter office layout, while also providing easier access for employees and customers that use public transit.

PyroGenesis’ new corporate headquarters are now located at 1100 René-Lévesque Boulevard West, Suite 1825, Montréal, Québec, Canada H3B 4N4. Phone numbers will remain the same, with 514-937-0002 as the main line.

About PyroGenesis Inc.

PyroGenesis Inc., a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) 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.

Cautionary and Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.

Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, 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 OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.

For further information please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
E-mail: ir@pyrogenesis.com
RELATED LINK: http://www.pyrogenesis.com/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4eac091e-7a31-4295-a885-b0872e4b3d52

FAQ

What is PyroGenesis's new company name after the 2024 name change?

PyroGenesis changed its name from PyroGenesis Canada Inc. to PyroGenesis Inc. (PyroGènese Inc. in French) effective November 11, 2024.

Will PyroGenesis (PYRGF) stock symbol change after the name change?

No, PyroGenesis will continue trading under the same symbols: PYR on TSX and PYRGF on OTCQX.

What is PyroGenesis's new headquarters address in Montreal?

PyroGenesis's new headquarters is located at 1100 René-Lévesque Boulevard West, Suite 1825, Montréal, Québec, Canada H3B 4N4.

How many countries does PyroGenesis (PYRGF) operate in as of 2024?

PyroGenesis operates across 21 countries according to the announcement.