What happened After a very similar loan on March 18, 2020?The last Time Peter made a loan to PYR was march 18, 2020 I believe, it had basically the same security on "Movable Property" what happened after that, did Peter disolve the company and take the patents and run as may are suggesting here? No, actually this happened,
Price March 20th $0.15 USD
Price July 24th $4.22 USD
Price Febuary 2021 $9.43 USD
Maybe the reason Peter is making this bridge loan is not the evil intent some suggest, but one hell of a deal(s) is(are) around the corner. Many Millioniares were made in 2020 because of this opportunity, Happy new year to all!
MONTREAL, March 18, 2020 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch systems, is pleased to announce today that it has closed a $903,000 non-brokered secured convertible loan at 12% per annum (the “Loan”), with a related party.
The Loans bears interest at the rate of 12% per annum, with interest payable in cash on a quarterly basis in arrears and matures September 17th, 2021. The Loan is convertible into common shares of the Company (each, a "Common Share") at a conversion price of $0.28 per Common Share (the "Conversion Price"). The Common Shares issuable on conversion of the Loan will be subject to a statutory hold period of four months and one day from the closing date.
The Loan is secured by a subordinated Hypothec on the Universality of Movable Property over all of the present and after acquired moveable property and assets of the Company.
PyroGenesis intends to use the net proceeds from the Offering for general corporate purposes. The Offering is subject to the final approval of the TSXV.