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PyroGenesis Canada Inc (C-PYR) - News Release
PyroGenesis board approves PyroGenesis Additive spinoff
2019-04-16 12:28 AT - News Release
Shares issued 133,598,450
PYR Close 2019-04-15 C$ 0.63
Mr. Peter Pascali reports
PYROGENESIS' BOARD APPROVES PYROGENESIS ADDITIVE'S SPIN-OFF
PyroGenesis Canada Inc.'s board of directors has approved the implementation of the necessary steps to spin off PyroGenesis Additive, a division specializing in developing, commercializing and advancing plasma-atomized metal powder for the additive manufacturing industry.
The terms of the spin-off are not yet agreed to, and will be disclosed once they have been confirmed and approved by the Board. Furthermore, it is expected that the spin-off will not represent more than 50% of the assets of the Company.
"The reason to spin-off PyroGenesis Additive is primarily to attract an investor base best suited to their unique value proposition, particular business operations, and financial characteristics, thereby maximizing shareholders' value and placing it in a better position to generate revenues and develop strategic relationships than had it remained part of the PyroGenesis stable of technologies," said Mr. P. Peter Pascali, President and CEO of PyroGenesis. "A spin-off creates simplicity which in and of itself increases interest, all to the benefit of shareholders."
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50trademark high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. 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 engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing 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 9001:2015 certified, and have been since 1997.
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