PyroGenesis Receives Conditional Approval to Graduate to the Toronto Stock Exchange
MONTREAL, Oct. 26, 2020 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (TSX-V: PYR; OTCQB: PYRNF; FRA: 8PY) (the “Company” or “PyroGenesis”), a high-tech company that designs, develops, manufactures
and commercializes advanced plasma processes and products, is pleased to announce that, further to its press release dated October 6, 2020, it has received conditional approval from the Toronto
Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange (the “TSXV”) and list its common shares on the TSX.
“This is a significant milestone for the Company,” said P. Peter Pascali, CEO and Chair of PyroGenesis. “We are proud to have been conditionally accepted by Canada’s largest and most credible exchange. Having spent just under 10 years on the TSX Venture Exchange (whom we would like to thank for providing us the ideal forum on which we could attract the capital to finance our growth), we believe it is time for us to graduate to the TSX, the premier destination for publicly traded companies. This represents another step in management’s efforts to broaden our appeal to a larger shareholder base while at the same time raising the Company’s profile in the investment community. It underscores our long-term commitment to increasing investor awareness and generating shareholder value. As we continue to successfully execute our growth strategy, the graduation to the TSX should enhance the liquidity of our stock and enable us to continue building long-term shareholder value.”
Final approval of the listing is subject to the Company fulfilling all of the requirements of the TSX, including the completion of the Company’s public offering for which it has filed a preliminary prospectus on October 20, 2020. Upon, and subject to, receipt of final TSX approval, PyroGenesis’ common shares would be delisted from the TSXV and begin trading on the TSX under the symbol “PYR”.
Separately, the Company is pleased to announce the creation of a new Board position; Lead Independent Director. We are happy to announce that Mr. Robert Radin has agreed to be the Company’s first Lead Independent Director.
In an unrelated matter, the Company also announces today that it has granted stock options to acquire 200,000 common shares of the Company to Mr. Rodney Beveridge, Director, and 50,000 Common Shares to Ms. Rodayna Kafal, Director & Vice President, Investor Relations and Strategic Business Development. The stock options have an exercise price of $4.00 per common share and are exercisable over a period of five (5) years. The options are granted in accordance with the Company’s stock option plan.
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