MONTREAL, Oct. 07, 2022 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions to reduce greenhouse gases (GHG) and address environmental pollutants, announces today that, further to its press release dated October 28, 2021, the negotiation for the land-based system to destroy Perfluoroalkyl and Polyfluoroalkyl Substances (“PFAS”) contract has been suspended and discontinued.
On October 28, 2021, it was announced that PyroGenesis, after a competitive bidding process, had been selected to provide its plasma based thermal process equipment in a two-phase project geared to providing a land-based system to destroy PFAS. The first phase was to provide pilot testing. The second phase was geared to a full fabrication, furbishing and commissioning of a fully commercial land-based system.
“This decision was made because we remained firm in our decision to not compromise nor hand over, to the Client, the intellectual property (IP) which we would have developed in Phase 1,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis....."
That news was released just after 10 pm, on October 7th, 2022.
The Friday night of the Thanksgiving long weekend, back in 2022.
The trust sold 50,000 shares earlier that day...at the very least 6 hours earlier, when the market closed at 4:00pm.
The trust sold those 50,000 shares @ $1.4043
and 44,200 shares @$1.4874 the day before that.
and 27,200 at $1.5178 the day before that.
My point is irrefutable.
The board must have reached their decision in the interval between after the market closed that Friday and before the press release hours later.
Otherwise, it's an absolutely transparent case of insider trading.