We have previously posted, in this forum, under the profile names Snizelthewizel1, Blackriver1 and Dustit2removeit.
We write this message today under a different profile name, to apologize to PyroGenesis, its executives, and to investors, for our previous actions.
Between December 2021 and April 2022, primarily on the Stockhouse PyroGenesis and HPQ Silicon investor forums, we made numerous untruthful posts against PyroGenesis. These actions triggered an investigative response by the company.
As a result, we are voluntarily admitting to all the following actions:
We initially and subsequently took steps to conceal my identity, including by using anonymous registration information, but eventually, PyroGenesis discovered who we were.
Using the Snizelthewizel1, Blackriver1 and Dustit2removeit accounts, we wrote and submitted several posts online, some of which were directed at PyroGenesis and its various executives. Some of our posts were unfair, and contained information we had not previously verified.
Many of those posts were previously removed by Stockhouse, so the current archive of Snizelthewizel1, Blackriver1 and Dustit2removeit posts does not reflect the full picture of our previous actions.
Our posts may have had the effect upon the reader to disparage or discredit the company and some of its executives, and/or to cause doubt in the minds of other investors. We now understand that our carelessness has caused pain and turmoil, and we will, in the future, act differently.
We have no information whatsoever supporting that the company and/or its executives were conducting any illegal activity.
We have no information supporting that the company has offered to pay or effectively paid any forum participants to post favourable comments.
We posted negative comments about fluctuations in the share price or market volume, with the intent to obtain answers to questions we had. We now understand and regret that our negative comments may have had resulted in making these shares seem out of the ordinary, suspicious, or cause for concern, or have cast the company in a negative light and/or may have alarmed investors.
In conversation or comments with other investors on the forum, we understand that our allegations have been construed as urging them to sell PyroGenesis’ shares and/or buy shares of other companies.
We have no information supporting that the company has manipulated the stock price for their own benefit, or fabricated news, regarding any of its projects.
Some of my posts contained insulting remarks regarding the company’s executives, especially the company’s CEO, P. Peter Pascali and we unreservedly apologize.
In my quest for answers from the company, we now recognize that the means we used, namely to post negative comments on an internet forum, containing unverified information, was not appropriate.
It’s important that we note that this was not a one-time, “having-a-bad-day” moment. We repeatedly posted comments over the course of 4 months, sometime, several times in a day.
In order to avoid drawing more attention to my posts, we have asked Stockhouse to delete all our past postings regarding PyroGenesis and, as such, we will not repeat them here.
The purpose of this post is to publicly apologize to PyroGenesis, and to those we may have misled, for having posted many unverified allegations regarding (i) the company’s conduct of its affairs, as well as (ii) undeserved comments about members of management. We were wrong to post false and serious allegations about the viability and integrity of PyroGenesis and the actions of its executives without first proceeding with a minimum due diligence to verify the exactitude of our statements.
Even though we may have, at times, had honest questions, we failed to take advantage of numerous means and opportunities to fact-check our assumptions by asking the company directly. Instead, we recognize that it was wrong to post unverified information about the company on a public investor forum and we understand now that our negative views could have impact on other people.
We recognize the damage that we have caused and for that we are truly sorry. We apologize unreservedly to the Company, and especially to P. Peter Pascali for our actions and comments.
My message is honest and is a true reflection of the events. Our actions were not carried out as a result of any pressure or request from any third party and we are voluntarily admitting to all our personal wrongdoing.
We will not respond to messages or further questions regarding this matter.
We were told that comments like the ones we posted could have lasting detrimental effects on the company and their investors, and can result in painful and public repercussions for commenters like us. These comments, and the investigation that ensued, brought upheaval upon ourselves and our family as well as professional and financial hardships.
We have paid the company an amount which will remain confidential to resolve this matter, an amount which is significant to us given our net worth.
We appreciate this opportunity to set the record straight to both the company and to its investors who we may have mislead and we are once again sincerely sorry for that.
We urge anyone who has questions or concerns regarding the affairs of any company to contact them directly to get answers, rather than to send negative comments on public investor forums.