From the recent AIF really aligns w the timing of TSX uplist. NOT saying entire 1000 torches all at once but the direction sure screams confidence on the direction.
One thing for sure..Pete is NOT uplisting to fail. Onwards and upwards!

 ".... the Company estimates that there is an opportunity to enter into contracts with such clients for the sale of plasma torches, and that they collectively could have a need for more than 1,000 torches."

Wow PYR is locked and loaded for serious liftoff...Just gleaned both docs very quickly so excuse the very short gleaning but there is some good meat to chew on...note the future acquisitions comment..very exciting.  Balance sheet is going to be stellar!!  TSX Senior Board...here we come!

LONG and STRONG PY!

1.  PRELIMINARY SHORT FORM PROSPECTUS

Principal Purposes

The net proceeds of the Offering to the Company, after deduction of the Underwriter’s Fee but before deducting the other estimated expenses of the Offering (estimated to be approximately $450,000), will be $11,291,415.30 (including the Over-Allotment Option which has been exercised in full for Over-Allotment Units) (assuming no sales to purchasers on the President’s List).

The net proceeds of the Offering, including the Over-Allotment Option, which has been exercised in full, are expected to be used by the Company as follows:

(a) approximately $5,000,000 to expand the Company’s current business through future acquisitions of, or investments in, other complementary businesses, products, or technologies;

(b) approximately $1,500,000 to develop and expand sales & marketing across all the Company’s offerings;

(c) approximately $1,000,000 for research and development activities to expand the Company’s offerings in the greenhouse gas emissions reduction space;

(d) approximately $1,000,000 to purchase equipment, tools and software relating to the operations of the Company’s business; and

(e) the balance for general working capital and other general corporate purposes.

Few more points worth noting:

1) The number of patents PyroGenesis has/is developing: the Company owns a total of 118 patents (22 granted, 94 pending and 2 provisional) relating to its products and processes. (Found on pg 21).
2) The number and description of employees that PyroGenesis has: The Company has approximately 70 full-time staff, of which approximately 47 are technical employees (engineers, technicians, tradespeople and operators). Of the Company’s 28 engineering staff, half have advanced degrees (Master or Ph.D.). Of the Company’s 19 manufacturing staff, half have advanced technical degrees (technical college level). The Company prides itself in hiring talented individuals with a complementary mix of professional experience and industry knowledge. The Company continues to develop a working environment wherein everyone is valued for their contribution to the team and rewarded for their accomplishments. The Company believes that it has one of the highest concentrations of plasma expertise under one roof in the world. (Pg. 20).

Full report: https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00031955&issuerType=03&projectNo=03123532&docId=4816394



2. AIF Annual Information Form YE 2019

Gleaning page 10-11 RE: Recent Developments

On May 19, 2020, the Company announced it had entered into the final stages of negotiation for the supply of iron
ore pelletizing equipment to one of the largest international producers or iron ore pellets. Discussions with the
customer are ongoing as of the date of this AIF.
 
On July 2, 2020, the Company announced that it had entered into active discussions with a new potential customer,
who is not only a significant player in the iron ore pelletization industry but is also a major player in the steel industry,
for the sale of equipment. The Company believes there is a high probability that the customer may bypass the standard modeling phase. Discussions with the customer are ongoing as of the date of this AIF. Although there is no certainty that the discussions and relationships with the clients referred to in the May 19, 2020, June 11, 2020 and July 2, 2020 announcements will result in significant contracts for the Company, the Company estimates that there is an opportunity to enter into contracts with such clients for the sale of plasma torches, and that they collectively could have a need for more than 1,000 torches.

The entire long read can be found here: 

https://www.sedar.com/GetFile.do?lang=EN&docClass=1&issuerNo=00031955&issuerType=03&projectNo=03124654&docId=4816269