PyroGenesis - CEO, Peter Pascali.
CEO, Peter Pascali.
Source: PyroGenesis.
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  • The company wishes to reassure investors that all projects are on track and that there are no undisclosed events to warrant the recent decline
  • The company remains on track with current and prospective projects
  • PyroGenesis CEO Peter Pascali mentioned that contracts expected to be signed within 6 months are in excess of $65 million
  • PyroGenesis Canada Inc. is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products
  • PyroGenesis Canada is down 5.26 per cent, trading at C$6.31 per share at 12:40 pm ET

PyroGenesis Canada (PYR) responded to today’s trading activity and the sudden decline in its stock price.

The company wishes to reassure investors that all projects are on track and that there are no undisclosed events to warrant the recent decline.

PyroGenesis Canada confirms the following:

Everything material has been disclosed by the company in either its press releases or financial reports. None of the contracts previously disclosed are at risk. And lastly, the company wishes to reassure PyroGenesis’ investors that the company remains on track with current and prospective projects.

“We just want to take the time to reassure investors that the recent decline in stock price cannot be explained by any undisclosed events taking place within the company,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis.

“Although we rarely speak to our pipeline, I feel it appropriate to make an exception under the current circumstances. If we are conservative and define the pipeline as being those contracts where we are either in final discussion as the sole supplier, or in a leadership position in a competitive bid, and if we further narrow the definition by looking only at contracts that are expected to be signed within 6 months, then the pipeline is in excess of $65 million. Most of that pipeline would be expected to be completed within 18 months after signature. As such, the Board is of the opinion that the company continues to strengthen its position and has never been better placed.”

PyroGenesis Canada Inc. is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products.

PyroGenesis Canada is down 5.26 per cent, trading at C$6.31 per share at 12:40 pm ET.

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