PyroGenesis Canada Inc.
OTCQB : PYRNF
TSX VENTURE : PYR

PyroGenesis Canada Inc.

June 16, 2016 16:45 ET

PyroGenesis Announces Shares for Debt Transaction

MONTREAL, QUEBEC--(Marketwired - June 16, 2016) -

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PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a company that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products (the "Company" or "PyroGenesis"), is pleased to announce that it has entered into an agreement with certain suppliers (the "Suppliers"), whereby PyroGenesis has offered and the Suppliers have agreed to PyroGenesis issuing common shares in the capital of the Company ("Common Shares") at a deemed price of $0.20 per Common Share in payment of an aggregate amount of $262K owing by PyroGenesis to the said Suppliers (the "Transaction"). The completion of this Transaction is subject to the approval of the TSX Venture Exchange.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc., a TSX Venture 50® clean-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. 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 9001:2008 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). 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, the expected completion of the shares for debt transaction and the expected benefits to the Company following the completion of the transaction. 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.otcmarkets.com. 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 TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • PyroGenesis Canada Inc.
    P. Peter Pascali
    Chief Executive Officer
    (514) 937-0002
    ir@pyrogenesis.com