PyroGenesis Provides Update on its Listing Application with NASDAQ
MONTREAL, Feb. 18, 2021 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQB: PYRNF) (FRA: 8PY), (the "Company", the “Corporation” or "PyroGenesis") a Company that
designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to provide, further to its Press Release dated
February 2nd, 2021, an update on the Company’s application to list its common shares (“Shares”) on the NASDAQ Stock Exchange (“NASDAQ”). NASDAQ is the second largest
exchange by market capitalization worldwide, and is home to many of the world’s best technology companies.
The Company is pleased to announce that the United States Securities and Exchange Commission (SEC) has recently approved PyroGenesis’ Shares for listing in the US. The only remaining request from the SEC, before rendering the Company’s Shares effective, is that upon final NASDAQ acceptance, the Company provides the SEC with at least 3 days’ prior notice of its intended listing date.
With respect to the NASDAQ application, the Company is pleased to announce that it believes it has responded to all questions to the full satisfaction of the exchange. The last outstanding item at this time, before final NASDAQ acceptance, is to have the Company’s Shares become eligible for electronic clearing and settlement through the Depository Trust Company (DTC). DTC eligibility is required in order to create a seamless electronic process of trading and thereby enhance liquidity of the Company's Shares. This is currently in process with DTC.
As previously disclosed, there will not be a concurrent financing associated with this listing nor will there be a reverse stock split.
“We are pleased to be in the final moments before a NASDAQ listing,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “We have been extremely satisfied with the increased visibility our recent uplisting to Canada’s premiere exchange, the Toronto Stock Exchange (TSX), has had. We expect this move to NASDAQ will further increase awareness of PyroGenesis and its offerings, both within the financial community and amongst potential clients. Upon final NASDAQ approval, the Board of Directors of PyroGenesis will choose a listing date that will be most beneficial to the Company while taking into consideration other events that are taking place.”