Pyrogenesis Canada Inc T.PYR

Reasons for settlement agreement

[developbc]

Because PETER had no beneficial interest in Phoenix I really believe why PETER so confident they will win and prevail 

@HARJAY 2..0 from PYROGENESIS CANADA INC. REVISED ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2019 Dated November 3, 2020

Following discussion, and after taking into consideration the merit of the claim, the potential lengthy and costly litigation procedures that could result from the claim, the negative impact the claim would have on the capacity of the Company to complete additional financings if the claim was reflected in its financial statements, and the terms of the settlement agreement, the Board unanimously approved the entering into of the settlement agreement, with P. Peter Pascali abstaining from voting.

As a result of a power of attorney signed by the Father and authorizing P. Peter Pascali, the Chief Executive Officer of the Company, to take certain actions on his behalf, Phoenix was considered “under common control” of the Father and P. Peter Pascali from an accounting perspective when the settlement agreement was entered into. P. Peter Pascali had no beneficial equity interest in and was not a director or officer of Phoenix at the time of the settlement.

[tamaracktop]

You're kidding right ? He was the beneficiary of his father's estate.  His father owned Phoenix, and yet he negotiated with His Father on behalf of Shareholders ?? I've made that point on more than one occasion. 

[BIGMOE]

This is old news and a family matter.  No impact on Pyro.  Move on. Waiting for the large Torch Contract from Rio Tinto

[tamaracktop]

To put it simply, you're out of your mind.

[Thinkbigsti69]

Tamyflop are you still talking to yourself in front of the mirror?

[Thinkbigsti69]

This is way overplayed by the fudsters. It is a nothing burger.  LEGAL PROCEEDINGS The Company may be, from time to time, involved in legal proceedings of a nature considered normal to its business. The Company is not involved in any legal proceedings which individually or in the aggregate would be material to the Company’s consolidated financial condition or results of operations.

[dalesio_98]

A family matter you say. Affecting a public company listed on the TSXV and Nasdaq (under review). Affecting employees, shareholders, creditors and possibly PYR future. Good luck to all!

[mollyriley]

Great DD and some reassurrance. This is what Peter has always claimed from what I know

[MystiMysti]

No fun being 90% down