MONTREAL, Oct. 1, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® high-tech company (the "Company" or
"PyroGenesis") that designs, develops, manufactures and commercializes
plasma waste-to-energy systems and plasma torch systems, announced
today that it has retained Imaginis Business Development Inc.
("Imaginis") as a investor relations consultant to increase PyroGenesis
Canada Inc.'s awareness amongst Canadian Institutional Investors and
related Retail Brokers (the "Agreement").
"We are pleased to announce that Imaginis, being the most recent
addition to our IR team, not only rounds out the current expertise, but
will also help promote PyroGenesis' product lines to niche industries,
specifically Oil and Gas," noted P. Peter Pascali, President and Chief
Executive Officer of PyroGenesis Canada Inc.
In consideration for services provided under the Agreement, the Company
will pay Imaginis a retainer of $10,000 per month for a five month
term, starting October 1st, 2014 and grant Imaginis, under its shareholder-approved stock option
plan, 250,000 incentive stock options at an exercise price of $0.40 per
Share, which will vest at April 1, 2015 and have a 5-year term. Should
the contract be extended beyond February 28th 2015, an additional 250,000 stock options will be granted at the stock
price, at the close of business, on February 27th, 2015 and have a 5-year term. Should the contract not be extended
beyond February 28th, 2015, then the original 250,000 options will be null and void and no
additional options will be issued. The contract can be cancelled by
either party with 30 days notice. The issuance of the stock options
remains subject to the approval of the TSX Venture Exchange.
Of note, Imaginis does not currently hold any securities in PyroGenesis
nor has any interest, directly or indirectly, in the Company except as
that disclosed herein.
Separately, PyroGenesis announces that effective October 1, 2014 Ms.
Gillian Holcroft, EVP Strategic Alliances will no longer be employed by
the Company.
About PyroGenesis Canada Inc.
PyroGenesis Canada, a TSX Venture 50® high-tech company, is the world
leader in the design, development, manufacturing and commercialization
of advanced plasma processes. We provide engineering and manufacturing
expertise, cutting-edge contract research, as well as turnkey process
equipment packages to the defense, metallurgical, mining, advanced
materials (including 3D printing), oil & gas, and environmental
industries. With a team of experienced PyroClassTM engineers, scientists and technicians working out of our Montreal office
and our 3,800 m2 production facility, PyroGenesis maintains its competitive advantage by
remaining at the forefront of technology development and
commercialization. Our core competencies allow PyroGenesis to lead the
way in providing innovative plasma torches, plasma waste processes,
high-temperature metallurgical processes, and engineering services to
the global marketplace. Our operations are ISO 9001:2008 certified, and
have been since 1997. PyroGenesis is a publicly-traded Canadian company
on the TSX Venture Exchange (Ticker Symbol PYR.V). For more
information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words "may",
"plan", "will", "estimate", "continue", "anticipate", "intend",
"expect", "in the process" and other similar expressions which
constitute "forward-looking information" within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company's current expectation and assumptions, and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current views
of the Company with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Company's ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers
are cautioned not to place undue reliance on these forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE PyroGenesis Canada Inc.
