PyroGenesis to Buy Back up to Five Million Shares

MONTREAL - Dec. 14, 2016 - PRLog -- The company's board of directors believe that the market price of the company's shares does not reflect the underlying value of the company, including its growth opportunities, and that the proposed purchasing of its shares is in the best interests of the company and represents an appropriate use of corporate proceeds. Any purchases made by the company could also enhance value and liquidity for its continuing shareholders.

"At these price levels, we find the value of our shares to be an attractive investment and, as such, a good use of funds, particularly given our recent flurry of press releases which describe, amongst other things, that the company has signed over $11.5-million of contracts since June 30, 2016, that we are on schedule to produce powders for 3-D printing in Q1 2017, and that we have received successful results from both the Purevap system and the commercialization of our Drosrite system," said P. Peter Pascal, president and chief executive officer of PyroGenesis. "Our share volume has increased nicely to over 100,000 shares trading per day; however, the share price has not fully reflected this recent news. It is inconceivable that PyroGenesis at September would have the same market value as it does today, and, as such, we feel it is an opportune time to buy PyroGenesis shares."

Separately, the company announces today that, subject to regulatory approval, it has retained Mackie Research Capital Corp. to provide market making services to the company in compliance with the policies and guidelines of the TSX-V, and other applicable legislation.

The agreement with Mackie is principally for the purposes of maintaining market stability and liquidity of PyroGenesis's shares and is not a formal market-making agreement. The agreement is for a minimum one-year term, and the company has agreed to pay Mackie $3,000 per month during the term, payable quarterly in advance. After the one-year period, either party may terminate the agreement by giving 60 days written notice.

There are no performance factors contained in the agreement between Mackie and the company, and Mackie will not receive any shares or options from the company as compensation for the services it will render. The company and Mackie act at arm's length; however, Mackie may provide investment banking services to the company, and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of PyroGenesis.

About PyroGenesis Canada

PyroGenesis Canada is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. The company provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defence, metallurgical, mining, advanced materials (including 3-D printing), oil and gas, and environmental industries.

http://www.pyrogenesis.com/