PyroGenesis Provides Update on Extension of Filings Due to Delays Caused by COVID-19

MONTREAL, June 02, 2020 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://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 announces today that, further to its press release dated April 27, 2020, it is required by the Autorité des marchés financiers to provide the following update before June 3^rd, 2020.

On March 23, 2020 the TMX Group exchanges, the Toronto Stock Exchange (“TSX”) and the TSX Venture Exchange (“TSXV”), announced temporary blanket relief measures for listed issuers during the Coronavirus (COVID-19) pandemic. These included the allowance to delay the filing of certain continuous disclosure documents by up to 45 days, given the administrative burden on public companies and accounting firms during the current crisis, and to provide greater flexibility in dealing with market volatility.

The Company will continue to rely on a temporary blanket relief provided by the Canadian Securities Regulatory Authorities for the filing of their Financial Statements and Management’s Discussion and Analysis (“MD&A”), for the year ended December 31, 2019  (“Annual Filings”) as well as for the period ended March 31, 2020 (“Q1 2020 Filings”). As a result, PyroGenesis expects to file its Annual Filings on or before June 15, 2020 and its Q1 2020 Filings on or before July 16, 2020.

During the period that the required filings remain outstanding, PyroGenesis' management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company further confirms that since the press release dated April 27, 2020, there have been no material events that have not been publicly disclosed.

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc., a 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 and AS9100D certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com.