P. Peter Pascali Updates Early Warning Report
Rhea-AI Summary
P. Peter Pascali, CEO of PyroGenesis (PYRGF, TSX: PYR), filed an updated early warning report after acquiring 5,882,352 units in a non-brokered private placement, each unit including one common share and one warrant.
His Total Ownership rose from 28.48% (62,532,757 shares) to 30.34% (68,415,109 shares). Assuming exercise of vested options, existing warrants, and all new warrants and shares from this Transaction, his group could hold 88,923,033 shares, or 36.15% of outstanding shares.
AI-generated analysis. Not financial advice.
Positive
- Insider increases Total Ownership to 30.34% after acquiring 5,882,352 units
- Fully diluted potential ownership could reach 36.15%, or 88,923,033 shares
- Participation in non-brokered private placement signals continued insider financial commitment
Negative
- Issuance of 5,882,352 new common shares represents 2.61% dilution to existing shareholders
- Fully diluted structure assumes significant additional share issuance tied to options and warrants
MONTRÉAL, June 08, 2026 (GLOBE NEWSWIRE) -- P. Peter Pascali, President and Chief Executive Officer of PyroGenesis Inc. (http://pyrogenesis.com) (TSX: PYR) (FRA: 8PY1) (“PyroGenesis”), the leader in innovating for ultra-high temperature processes and engineering, and a technology provider to heavy industry & defense, has filed on June 8, 2026, an updated early warning report with respect to his shareholdings in PyroGenesis in connection with his acquiring of 5,882,352 units (the “Transaction”) through the non-brokered private placement by purchasing 5,882,352 units comprising of one common share (“Common Shares”) and one common share purchase warrant (“Warrant”) of PyroGenesis. A notice of required disclosure under the early warning requirements (Form 62-103F1) was filed by Mr. Pascali and is available under the SEDAR profile of PyroGenesis at www.sedarplus.ca.
On June 4, 2026, a total of 225,463,423 Common Shares were issued and outstanding. As of June 4, 2026, prior to completion of the Transaction, Mr. Pascali (i) beneficially owned and controlled 56,805,357 Common Shares (representing
With the completion of the Transaction, 5,882,352 Common Shares, representing
In addition, Mr. Pascali beneficially owns and controls options issued under PyroGenesis’ share-based compensation plans (which include the Issuer’s Option Plan and the Issuer’s Long Term Incentive Plan) to acquire 3,570,000 Common Shares of which 3,495,000 are vested (the “Vested Options”) and, beneficially owned and controlled 11,130,572 Warrants to acquire 11,130,572 Common Shares (“Pre-Closing Warrants”).
Assuming the exercise of all the Vested Options and of all the Pre-Closing Warrants, an aggregate of 3,495,000 and 11,130,572 Common Shares would be issued, respectively, and the Total Ownership would increase to 77,158,329 Common Shares, or
Assuming the exercise of the Vested Options, the Pre-Closing Warrants, the completion of the Transaction of Common Shares and Warrants, an aggregate of 3,495,000, 11,130,572, 5,882,352, and 5,882,352 Common Shares would be issued, respectively, and the Total Ownership would increase to 88,923,033 Common Shares, or
The Trust, the Estate and the Foundation may be considered to be joint actors with Mr. Pascali. Mr. Pascali is a (i) trustee, executive officer and beneficiary of the Trust, (ii) executor of the estate of Petros P. Pascali, and (iii) director of the Foundation.
Mr. Pascali and any joint actor may, from time to time, acquire or dispose of ownership or control or direction over some or all of the securities of PyroGenesis depending on a number of factors.
For further information, including regarding the early warning report, including a copy of same (which is available under PyroGenesis’ SEDAR profile at www.sedarplus.ca) please contact:
P. Peter Pascali, President and Chief Executive Officer of PyroGenesis, at 514-937-0002. The address of the head office of PyroGenesis is 1100 Boulevard Rene-Levesque Ouest, Bureau 1825, Montreal, Quebec, H3B 4N4.
