PyroGenesis Inc T.PYR

Alternate Symbol(s): PYRGF

PyroGenesis Inc., formerly PyroGenesis Canada Inc., is a Canada-based high-tech company. The Company is engaged in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG). The Company has created proprietary, patented and advanced plasma technologies that are used in four markets: iron ore palletization, aluminum, waste management, and additive manufacturing. It provides engineering and manufacturing expertise, contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (including 3D printing), oil and gas, and environmental industries. Its products and services include plasma atomized metal powders, aluminum and zinc dross recovery, waste management, plasma torches, and innovation/custom process development. It offers PUREVAP, which is a high purity metallurgical grade silicon and solar grade silicon from quartz.

TSX:PYR - Post by User

PyroGenesis Inc

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Comment by skiboyyon Oct 21, 2014 12:17am

176 Views

Post# 23045968

RE:RE:What debt?

analyst8 wrote: This guy keeps on posting FUD (fear uncertainty doubt) everyday .. as the price drops I'll keep on picking up more shares, thanks!

Here's the insider transaction to repay the debt:

May 27/14 May 22/14 Pascali, Peter Photis Indirect Ownership Common Shares 16 - Acquisition under a prospectus exemption 7,500,000 $0.800

Here's the news release on June 4th:

TSXV Confirms Previously Announced Shares for Debt Transaction
Read more at https://www.stockhouse.com/news/press-releases/2014/06/04/tsxv-confirms-previously-announced-shares-for-debt-transaction#J4cPVADHChldxj6V.99

MONTREAL, June 4, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. ("PyroGenesis") (TSXV: PYR), a TSX Venture 50® plasma solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch systems, is pleased to announce that, further to its press release of May 23, 2014, the Company has received final approval from the TSXV for the previously announced shares for debt transaction (the "Shares for Debt Transaction") wherein PyroGenesis announced that it had completed a Shares for Debt Transaction whereby the Company issued 7,500,000 common shares ("Common Shares") of PyroGenesis from treasury at a deemed price of $0.80 per Common Share to Phoenix Haute Technology Inc. ("Phoenix"), to settle $6 million owing by PyroGenesis to Phoenix. Phoenix is a company wholly owned by the father of the CEO of PyroGenesis. Separately, the CEO of PyroGenesis, Mr. Pascali Jr., also invested $700,000 into the Private Placement which the Company announced on May 22, 2014 as having closed oversubscribed.

As previously reported, following completion of the Shares for Debt Transaction, Phoenix, will hold 10,441,524 Common Shares, representing approximately 12.97% of the issued and outstanding Common Shares and Phoenix and Mr. Pascali Snr, taken together, will hold, directly or beneficially, an aggregate of 24,615,795 Common Shares, representing approximately 30.57% of the issued and outstanding Common Shares.

The Common Shares issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four months and one day from the date of issuance thereof under applicable securities laws and TSX Venture Exchange ("TSXV") rules. The transaction is subject to final approval of the TSXV.

Phoenix has acquired the Common Shares for investment purposes and may, in the future, acquire or dispose of the Common Shares through the market, private or otherwise as circumstances or market conditions warrant.

Read more at https://www.stockhouse.com/news/press-releases/2014/06/04/tsxv-confirms-previously-announced-shares-for-debt-transaction#J4cPVADHChldxj6V.99