MONTREAL, Nov. 5, 2015 /CNW Telbec/ - PyroGenesis Canada
Inc. (http://pyrogenesis.com) (TSXV: PYR) (OTCQB: PYRNF), a TSX
Venture 50® clean-tech company (the "Company" or "PyroGenesis")
that designs, develops, manufactures and commercializes plasma
waste-to-energy systems and plasma torch products, announces today
that at the request of IIROC, it wishes to clarify certain
disclosures and statements made in its October 26, 2015 news release (the "Press
Release"), which was intended to provide a general update about the
Company and its background.
Given the length of the Press Release and the details contained
therein, one might expect the need for a subsequent press release
in order to elaborate on certain statements that require further
understanding. The Company wishes to do so through the following
news release.
In the October 26th
Press Release, the President and CEO of the Company, Mr.
P. Peter Pascali, issued a Q&A
format to elaborate on the success and progress of the Company, the
obstacles it currently faces, and the corporate strategy going
forward. The Press Release focused primarily on the industries the
Company is involved in, particularly additive manufacturing (3D
Printing), environmental, oil and gas, and mining and metallurgy.
Regarding the Company's involvement in the mining industry,
particularly its engagement to evaluate the feasibility of using
plasma for the purpose of refining ore into pure metal, more
particularly silicon metal, the Company made the following
statement, "the world consumption of silicon metal in 2014 exceeded
US$ 6B," which it wishes to clarify
was sourced from Roskill: Silicon and Ferrosilicon: Global Industry
Markets & Outlook report1.
Additionally, the Press Release provided some background on the
Company's progress and success to date, particularly regarding the
Company's recent and future contracts. The Company wishes to note
that certain material contracts referenced in the Press Release
contain confidential information which disclosure would be
detrimental to the operations of the Company and therefore the
Company is in the process of applying to the securities regulator
for an exemption to file such documents on SEDAR.
The Company further notes that the reference made to "Visibility
from Back Log", a term described in the Press Release as "a unique
PyroGenesis indicator, referring to a very specific subset of our
pipeline, which is defined as: unsigned contracts, under
discussion, with existing clients," is not an industry
accepted measure and as it cannot be used to compare PyroGenesis to
other companies, PyroGenesis will refrain from using this term in
the future and as such, retracts this disclosure. The Company also
hereby retracts disclosure of the following statement: (i) "with a
total investment of $1.7MM,
PyroGenesis could be producing powders within nine (9) months. It
is estimated that PyroGenesis could generate over $10MM
profit/year/System from powder sale alone," and (ii) "with pilot
plant testing successfully concluded in October 2015, the results confirmed that for an
initial investment of approximately $20MM in a PyroGenesis system,
the client could save over $40MM per year in disposal costs and
value from recovered metal."
Overall, the Company intended through the Press Release to
provide a very clear and up-to-date view of the Company, its
successes and its progress. We encourage investors to contact Mr.
Pascali or Ms. Sophy Cesar for more
information about the Company.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® clean-tech company,
is the world leader in the design, development, manufacture 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 engineers, scientists and technicians working out of
our Montreal office and our 3,800
m2 manufacturing 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) and on the OTCQB Marketplace (Ticker Symbol:
PYRNF). 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, or at www.otcmarkets.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, its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
____________________________
1 Roskill:
Silicon and Ferrosilicon: Global Industry Markets & Outlook
report (2014).
SOURCE PyroGenesis Canada Inc.