Pyrogenesis Canada Inc T.PYR

Sweet deal - for Mellon

[tamaracktop]

- the warrants are already "in the money"

- the debt is "secured by moveable assets" of the company

P3 put up nothing

The company has no money

Sweet deal for Mellon = bad news for PyroGenesis

[tamaracktop]

"The Loan will be secured by a subordinated hypothec on the universality of the Company’s movable property." The company pledged All of its assets to "secure" this loan. There are two reasons the company would have done this. Either they couldn't raise capital in the market, or they need the money NOW or both.

[dalesio_98]

Trust has been continually disposing of shares even at year low. Trust could have provided this funding earlier on, not when Pyro had its back to the wall. Trust went easy on the 3% interest rate compared to the previous debentures/interest rate. Trust gets warrants, Pyro pledged all assets securing loan. NO risk to the Trust, Mr. Pascali. Mr. Pascali already owns 47% of the outstanding shares.