18:51:25 EST Sat 27 Feb 2021
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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 159,420,992
Close 2021-02-23 C$ 10.18
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PyroGenesis does not say why stock is down

2021-02-23 13:35 ET - News Release

Mr. Rodayna Kafal reports


PyroGenesis Canada Inc. has issued this press release in response to this morning's trading activity and the sudden decline in its stock price. The company is reassuring investors that all projects, including the Nasdaq listing, are all on track and that there are no undisclosed events to warrant this morning's decline.

The company prefers not to opine on stock price and trading activity; however, given the recent decline and inquiries from investors, the Company confirms: Everything material has been disclosed by the company in either its press releases or financial reports. PyroGenesis further confirms that neither the contracts previously disclosed nor the Nasdaq listing are at risk. Last, but not least, the company wishes to reassure PyroGenesis's investors that the company remains on track with current and prospective projects, as well as with the Nasdaq listing.

"I just wanted to take the time to reassure investors that the decline in stock price this morning cannot be explained by any undisclosed developments at the company, as all material events have been disclosed," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "The board believes the company is in the strongest position it has ever been with a backlog at historical levels, a pipeline that is growing exponentially and a clean balance sheet, which, as of today, posts cash on hand in excess of $27.5-million."

About PyroGenesis Canada Inc.

PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defence, metallurgical, mining, advanced material (including 3-D printing) and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and 3,800-square-metre manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The company's core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes and engineering services to the global marketplace. PyroGenesis Canada's operations are ISO 9001:2015 and AS9100D certified.

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