00:14:31 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



PyroGenesis Canada Inc
Symbol PYR
Shares Issued 178,880,395
Close 2023-09-12 C$ 0.805
Market Cap C$ 143,998,718
Recent Sedar Documents

Globe's Milstead unravels AMF's PyroGenesis case

2023-09-13 09:01 ET - In the News

The Globe and Mail reports in its Wednesday edition that PyroGenesis, a small Montreal-based seller of technology to the metals industry, says in a recent news release its investors have reasons to "take comfort" and to be "reassured." The Globe's David Milstead writes the Zen-like message is because the Quebec securities regulator, the Autorité des marchés financiers, has limited its allegations of fraud by the company and its chief executive officer to one series of transactions in 2018 -- not anything else that happened in the dozen years surrounding it. The AMF, has accused Mr. Pascali of engaging in the "communication of false documents, the use of false signatures and the dissemination of false or misleading information to the market and to regulatory bodies." In early 2011, in preparation for its listing, PyroGensis struck a deal with Phoenix Haute Technology, a company owned by Peter P. Pascali -- the father of CEO P. Peter Pascali -- to acquire intellectual-property assets for about $8-million. The AMF is concerned that the PyroGenesis board and shareholders allegedly were not informed about later amendments to the deal, which would leave PyroGenesis on the hook for much more money than intended, until 2018.

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