P. Peter Pascali Updates Early Warning Report – Benzinga – Press Release


MONTRÉAL, April 09, 2022 (GLOBE NEWSWIRE) — P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Canada Inc. (http://pyrogenesis.com) PYR PYR 8PY (“PyroGenesis“), a high-tech company that designs, develops, manufactures and commercializes plasma atomized metal powders, environmentally friendly plasma waste-to-energy systems and clean plasma torch products, has filed today an updated early warning report with respect to his shareholdings in PyroGenesis in connection with his proposed disposition (the “Proposed Disposition“) through the facilities of the Toronto Stock Exchange of up to 750,000 common shares of PyroGenesis (“Common Shares“) held by Fiducie de Crédit Mellon Trust (the “Trust“) under an automatic securities disposition plan (“ASDP“) and a notice of intention to distribute securities (Form 45-102F1) filed by Mr. Pascali and available under the SEDAR profile of PyroGenesis at www.sedar.com.

The Common Shares to be sold under the Proposed Disposition would be sold for the purposes of allowing for Mr. Pascali to make tax payments and reducing debt. The ASDP will allow for an orderly disposition of a small portion of the Common Shares held or controlled by Mr. Pascali at prevailing market prices during the period from April 18, 2022 to May 6, 2022.

Sales under the ASDP will be effected by an independent securities broker in accordance with general trading parameters set out in the ASDP, and Mr. Pascali is not permitted to exercise any further discretion or influence over how dispositions will occur under the ASDP. Dispositions pursuant to the ASDP will be reported by Mr. Pascali on SEDI in accordance with applicable Canadian securities legislation.

On April 8, 2022, a total of 170,125,795 Common Shares were issued and outstanding. As of April 8, 2022, prior to any sales under the Proposed Disposition, Mr. Pascali (i) beneficially owns and controls 63,742,941 Common Shares (representing 37.47% of the issued and outstanding Common…