PyroGenesis Grants Stock Options

MONTREAL, Sept. 19, 2012 /CNW Telbec/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") (TSXV: PYR), today announces the cancellation and granting of incentive stock options (each an "Option").

Pyrogenesis has cancelled 1,060,000 previously issued Options granted to thirteen employees of the Company and granted an aggregate of 1,276,000 Options to such employees to acquire an aggregate of 1,276,000 common shares at $0.15 per common share. Of these Options 1,060,000 will vest as follows: 30 percent as of the date of grant, 30 percent at the first anniversary of the date of grant and 40 percent at the second anniversary of the date of grant. The remaining 216,000 Options will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant.

In addition, ten employees have been granted an aggregate of 400,000 Options to acquire an aggregate of 400,000 common shares at $0.15 per common share. Of these Options 200,000 will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant. The remaining 200,000 Options will vest as follows: 15 percent as of the date of grant, 15 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant.

Five directors have been granted an aggregate of 790,000 Options entitling them to acquire an aggregate of 790,000 common shares at a price of $0.15 per common share. Of these Options, 400,000 will vest as follows: 30 percent as of the date of grant, 30 percent at the first anniversary of the date of grant and 40 percent at the second anniversary of the date of grant; 150,000 of these Options will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant; 100,000 of these Options will vest as follows: 50 percent as of the date of grant, 25 percent at the first anniversary of the date of grant and 25 percent at the second anniversary of the date of grant; 100,000 of these Options will vest quarterly over four years starting on the date of the grant; 40,000 of these Options will vest on the date of the grant.

One director has been granted an aggregate of 550,000 Options entitling them to acquire an aggregate of 550,000 common shares at a price of $0.175 per common share. Of these Options, 500,000 will vest as follows: 30 percent as of the date of grant, 30 percent at the first anniversary of the date of grant and 40 percent at the second anniversary of the date of grant. The remaining 50,000 Options will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant.

Two officers have been granted an aggregate of 550,000 Options entitling them to acquire an aggregate of 550,000 common shares at a price of $0.15 per common share. Of these Options, 500,000 will vest as follows: 30 percent as of the date of grant, 30 percent at the first anniversary of the date of grant and 40 percent at the second anniversary of the date of grant; 50,000 of these Options will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant.

In addition, a Consultant of the Company has been granted 110,000 Options entitling him to acquire an aggregate of 110,000 common shares at a price of $0.15 per common share. 100,000 of these Options will vest as follows: 50 percent as of the date of grant, 25 percent at the first anniversary of the date of grant and 25 percent at the second anniversary of the date of grant; 10,000 of these Options will vest as follows: 10 percent as of the date of grant, 20 percent at the first anniversary of the date of grant, 30 percent at the second anniversary of the date of grant and 40 percent at the third anniversary of the date of grant.

All Option grants disclosed above are exercisable for a period of five years and have been granted in accordance with the Company's Stock Option Plan.

About PyroGenesis Canada Inc.

PyroGenesis Canada is an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products. PyroGenesis' proprietary plasma technologies utilize the intense energy of plasma to gasify and vitrify virtually any type of waste without producing hazardous by-products. PyroGenesis' patented gasification and vitrification technology is different from incineration because it produces a clean synthetic gas from waste, which can be used for power generation. PyroGenesis' technology can also turn waste into a glassy rock that can be utilized as construction material. PyroGenesis has marquee defense industry and civilian customers that are using its technology in marine and land-based applications. For more information, please visit www.pyrogenesis.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: PyroGenesis Canada Inc.

For further information:

Chief Executive Officer
P. Peter Pascali
514. 937.0002
ir@pyrogenesis.com

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PyroGenesis Canada Inc.

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