MONTREAL, Feb. 18, 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, announce today that it completed a financing in which the
Company received funding in the form of two (2) loans (together,
the "Loans") with respect to its scientific research and
experimental development credit ("SR&ED Tax Credits") for the
Company's fiscal years ending December 31,
2014 and December 31, 2015
(the "Financing").
Pursuant to the Financing, the Corporation granted R & D a
security interest and movable hypothec on its assets, with a first
rank claim on the refundable portion of its SR&ED Tax Credits
for the fiscal years ending December 31,
2014 and December 31,
2015.
"This financing is the first of its type that the Company has
entered into which is entirely non-dilutive to shareholders," said
Mr. P. Peter Pascali, President and
CEO of PyroGenesis. "As the Company's cash flow improves, and its
order backlog increases, management will increasingly look to these
types of non-dilutive financings to fund growth."
In connection with the Financing, the Company paid Strategis
Capital Advisors a cash commission of $6,000 CAD.
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.
SOURCE PyroGenesis Canada Inc.