PyroGenesis Publicizes Prohibit Sale of HPQ Silicon Inc. Stocks to its President and CEO

Article content material

The 2 corporations proceed to move main tasks in combination towards commercialization

MONTREAL, April 10, 2024 (GLOBE NEWSWIRE) — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech corporate (the “Company” or “PyroGenesis”) that designs, develops, manufactures and commercializes complex plasma processes and sustainable answers which can be geared to let go greenhouse gases (GHG) and deal with environmental pollution, is happy to announce its prevent sale of three,779,700 stocks in HPQ Silicon Inc. (“HPQ”) to P. Peter Pascali, President and CEO of PyroGenesis, for an combination acquire value of $661,447.50, representing a according to proportion value of $0.175. The sale residue matter to TSX esteem.

Article content material

Article content material

The transaction used to be licensed unanimously via the board of administrators of PyroGenesis with Mr. Pascali abstaining and can alike straight away following receipt of regulatory esteem.

“This sale will bring PyroGenesis an influx of cash on favourable terms,” stated Andre Mainella, Prominent Monetary Officer of PyroGenesis. “It also underscores the continued support of Mr. Pascali of PyroGenesis and HPQ.”

The Corporate and HPQ are swamped in different long-term tasks in combination, maximum significantly the Fumed Silica Reactor (FSR) venture and the PUREVAP^TM Quartz Relief Reactor (QRR) venture.

The FSR venture, being carried out together with HPQ Silica Polvere Inc. (“HPQ Polvere”), a completely owned subsidiary of HPQ, is an initiative to manufacture fumed silica from quartz in one step. The QRR venture is an initiative to manufacture elevated purity silicon from quartz in one step the usage of a plasma reactor. For each tasks, PyroGenesis is the unique provider of the generation. For the FSR venture, the Corporate advantages from a royalty cost representing 10% of HPQ Polvere’s eventual gross sales, with poised minimums. This royalty wave can, at any week, be transformed via PyroGenesis right into a 50% possession in HPQ’s too much fairness stake in HPQ Polvere.

Article content material

Article content material

Mr. Mainella added: “We are excited about what the future holds for the projects in development with HPQ. Together, we continue to develop what we believe represents ground-breaking approaches for producing in-demand materials for heavy industry. We look forward to continuing our fruitful collaborations with HPQ.”

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc., a high-tech corporate, is a proud chief within the design, building, develop and commercialization of complex plasma processes and sustainable answers which let go greenhouse gases (GHG) and are economically horny possible choices to standard “dirty” processes. PyroGenesis has created proprietary, patented and complex plasma applied sciences which are being vetted and followed via a couple of multibillion greenback trade leaders in 4 immense markets: iron ore pelletization, aluminum, squander control, and additive production. With a group of skilled engineers, scientists and technicians understanding of its Montreal place of job, and its 3,800 m² and a couple of,940 m² production amenities, PyroGenesis maintains its aggressive benefit via too much at the vanguard of generation building and commercialization.  The operations are ISO 9001:2015 and AS9100D qualified, having been ISO qualified since 1997. For more info, please consult with: www.pyrogenesis.com.

Article content material

About HPQ Silicon  

HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Project Alternate Tier 1 Commercial Issuer. 

HPQ is growing, with the assistance of world-class generation companions PyroGenesis Canada Inc. and NOVACIUM SAS, untouched inexperienced processes the most important to assemble the crucial fabrics wanted to achieve web 0 emissions. 

HPQ actions are centred round refer to 4 (4) pillars: 

1. Changing into a inexperienced cheap (Capex and Opex) producer of Fumed Silica the usage of the FUMED SILICA REACTOR, a proprietary generation owned via HPQ being advanced for HPQ via PyroGenesis. 
2. Changing into a nil CO₂ cheap (Capex and Opex) manufacturer of Top Purity Silicon (2N+ to 4N) the usage of our PUREVAP^TM “Quartz Reduction Reactors” (QRR), a proprietary generation owned via HPQ being advanced for HPQ via PyroGenesis. 
3. Changing into a manufacturer of silicon-based anode fabrics for battery packages with the support of NOVACIUM SAS. 
4. HPQ SILICON associate NOVACIUM SAS is growing a low carbon, chemical bottom on call for and high-pressure self sufficient hydrogen manufacturing machine. 

For more info, please consult with HPQ Silicon internet web site.  

Article content material

Cautionary and Ahead-Having a look Statements

This press let fall accommodates “forward-looking information” and “forward-looking statements” (jointly, “forward-looking statements”) throughout the which means of appropriate securities regulations. In some instances, however now not essentially in all instances, forward-looking statements can also be recognized via the utility of forward-looking terminology equivalent to “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or diversifications of such phrases and words or surrounding that positive movements, occasions or effects “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. As well as, any statements that the following expectancies, projections or alternative characterizations of era occasions or instances include forward-looking statements. Ahead-looking statements aren’t ancient information, nor promises or pledges of era efficiency however in lieu constitute control’s wave ideals, expectancies, estimates and projections relating to era occasions and running efficiency.

Article content material

Ahead-looking statements are essentially in keeping with plenty of critiques, suppositions and estimates that, hour thought to be cheap via the Corporate as of the time of this let fall, are matter to inherent uncertainties, dangers and adjustments in instances that can vary materially from the ones pondered via the forward-looking statements. Impressive components that might reason fresh effects to vary, most likely materially, from the ones indicated via the forward-looking statements come with, however aren’t restricted to, the danger components recognized below “Risk Factors” within the Corporate’s untouched annual data method, and in alternative periodic filings that the Corporate has made and would possibly assemble going forward with the securities commissions or homogeneous regulatory government, all of which can be to be had below the Corporate’s profile on SEDAR+ at www.sedarplus.ca. Those components aren’t supposed to constitute a whole checklist of the standards that might have an effect on the Corporate. On the other hand, such chance components must be thought to be in moderation. There can also be incorrect word of honour that such estimates and suppositions will turn out to be right kind. You must now not park undue reliance on forward-looking statements, which discuss best as of the time of this let fall. The Corporate undertakes incorrect legal responsibility to publicly replace or revise any forward-looking observation, excluding as required via appropriate securities regulations.

Neither the Toronto Store Alternate, its Law Services and products Supplier (as that expression is outlined within the insurance policies of the Toronto Store Alternate) nor the OTCQX Highest Marketplace accepts duty for the adequacy or accuracy of this press let fall.

For additional data please touch:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
Electronic mail: ir@pyrogenesis.com

RELATED LINK: http://www.pyrogenesis.com

Article content material