MONTREAL, Oct. 1, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® high-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch systems, announced today that it has retained Imaginis Business Development Inc. ("Imaginis") as a investor relations consultant to increase PyroGenesis Canada Inc.'s awareness amongst Canadian Institutional Investors and related Retail Brokers (the "Agreement").
"We are pleased to announce that Imaginis, being the most recent addition to our IR team, not only rounds out the current expertise, but will also help promote PyroGenesis' product lines to niche industries, specifically Oil and Gas," noted P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Canada Inc.
In consideration for services provided under the Agreement, the Company will pay Imaginis a retainer of $10,000 per month for a five month term, starting October 1st, 2014 and grant Imaginis, under its shareholder-approved stock option plan, 250,000 incentive stock options at an exercise price of $0.40 per Share, which will vest at April 1, 2015 and have a 5-year term. Should the contract be extended beyond February 28th 2015, an additional 250,000 stock options will be granted at the stock price, at the close of business, on February 27th, 2015 and have a 5-year term. Should the contract not be extended beyond February 28th, 2015, then the original 250,000 options will be null and void and no additional options will be issued. The contract can be cancelled by either party with 30 days notice. The issuance of the stock options remains subject to the approval of the TSX Venture Exchange.
Of note, Imaginis does not currently hold any securities in PyroGenesis nor has any interest, directly or indirectly, in the Company except as that disclosed herein.
Separately, PyroGenesis announces that effective October 1, 2014 Ms. Gillian Holcroft, EVP Strategic Alliances will no longer be employed by the Company.
About PyroGenesis Canada Inc.
PyroGenesis Canada, a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacturing and commercialization of advanced plasma processes. 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 PyroClassTM engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 production 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 9001:2008 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol PYR.V). For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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:
PyroGenesis Canada Inc.
P. Peter Pascali
Chief Executive Officer
E-mail: [email protected]