Mr. Peter Pascali reports
PYROGENESIS ANNOUNCES TERMINATION OF AUTOMATIC SECURITIES DISPOSITION PLAN
PyroGenesis Canada Inc. has terminated, effective today, the automatic securities disposition plan (ASDP) under which a proposed disposition of up to 800,000 common shares of PyroGenesis was to be made.
On Aug. 18, 2022, president and chief executive officer Peter Pascali filed a notice of intention to distribute securities (Form 45-102F1) under the SEDAR profile of PyroGenesis, through which he announced his intention of selling, on the Toronto Stock Exchange, up to 800,000 of the 4,904,657 common shares (the proposed disposition) owned by Fiducie de Credit Mellon Trust, a trust of which he is a trustee, executive officer and beneficiary. On the same date, the trust and PyroGenesis entered into an ASDP with an independent broker, who was appointed to effect the sales to be made under the proposed disposition between Aug. 25, 2022, and Sept. 16, 2022.
On Sept. 8, 2022, Mr. Pascali and PyroGenesis notified the broker of their decision to terminate the ASDP. The decision was taken in order to avoid the possible situation wherein, in accordance with the trading parameters set out in the ASDP, the sale of a large number of common shares would be made in a short period of time. The board of directors of the company approved the termination of the ASDP, as it is believed to be in the best interest of the shareholders of PyroGenesis. The termination was made at a moment in time when Mr. Pascali/the trust represented not being aware of or in possession of any privileged information or material non-public or undisclosed information about PyroGenesis or any securities of PyroGenesis.
About PyroGenesis Canada Inc.
PyroGenesis Canada, 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 (GHG) and are economically attractive alternatives to conventional dirty processes. PyroGenesis has created proprietary, patented and advanced plasm a 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-square-metre and 2,940-square-metre manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization.
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