PyroGenesis Inc T.PYR

RE:RE:RE:AMF Proceedings

[dalesio_98]

Interesting indeed.

Good luck to All!

GrahamB wrote:

dalesio_98 wrote: The AMF sought removal of PyroGenesis lawyer (lawfirm) due to alledged conflict of interest, etc, a Request for a declaration of ineligibility which was not granted.

PyroGenesis lawfirm & lawyer Osler, Me Benoit, in turn, sought a Request for a declaration of abusive conduct by the AMF which was not granted.

Osler & Me Benoit et al continues to represent PyroGenesis.

I do not have an update as to the content of the next proceedings nor when it/they will be held. 

TBA

Good luck to All!

GrahamB wrote:

Does anyone have an update on the status of the alleged Breach of securities Act that AmF is initiating?
Perhaps Dalesio knows ?

Also as referenced below -what is meant by the reference to:

• "Request for a declaration of abusive conduct by the respondent, PyroGenesis Canada Inc."

Summary of PYRs news release on this and the AMF details I found online 

The AMF has initiated administrative proceedings against Mr. Pascali, Alan Curleigh, who is a director of the Company, and the Company, for actions taken in connection with the 2018 Phoenix Transactions. The AMF alleges that Mr. Pascali was in breach of section 199.1(2) of the Securities Act (Qubec), that Mr. Pascali and the Company made misrepresentations in breach of sections 196 and 197 of the Securities Act (Qubec), that Mr. Pascali and the Company failed to comply with certain disclosure obligations under applicable securities legislation, and that Mr. Pascali and Mr. Curleigh failed to comply with their fiduciary duties as directors of the Company. The AMF is seeking administrative penalties totaling $4.20 million against Mr. Pascali, and a disgorgement order of $9.57 million to the AMF also from Mr. Pascali. The AMF is also seeking administrative penalties totaling $550,000 against the Company. Separately, the AMF is also seeking orders prohibiting Mr. Pascali and Mr. Curleigh to act as an officer or director of a reporting issuer for 5 years.”

 

PyroGenesis Provides Update on AMF Investigation | PyroGenesis Inc.

 

Case Number: 2023-021
Authority: Autorit des marchs financiers (AMF) - Financial Markets Authority
Applicants:

• Photis Peter Pascali
• Alan Curleigh

Respondent:

• PyroGenesis Canada Inc.

Law Firm:

• Osler, Hoskin & Harcourt, s.e.n.c.r.l./s.r.l.

Hearing Date and Time:

• May 9, 2024, at 9:30 AM

Details:

• Request for a declaration of ineligibility
• Request for a declaration of abusive conduct by the respondent, PyroGenesis Canada Inc.
• Type of Hearing: Full hearing
• Location: Paul Fortugno courtroom

 

Thanks for the update Dalesio
Its interesting that several elements of the article you linked to on the Mariner report actually became elements later in  the allegations  y the AMF.
For example, If I understand it correctly , the Mariner report alleged delays in disclosure to shareholders about family transactions ,amongst others.
Will be interested to see how this all proceeds