Pyrogenesis announces intent to exercise option to purchase 50% of hpq silica polvere

Montreal, may 30, 2024 (globe newswire) -- pyrogenesis canada inc. (http://pyrogenesis.com) (tsx: pyr) (otcqx: pyrgf) (fra: 8py), a high-tech company (the “company” or “pyrogenesis”) that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (ghg) and address environmental pollutants, is pleased to announce that the company has notified hpq silicon inc. (“hpq”) of its intent to exercise its right to convert its annual royalty rights into a 50% ownership of hpq silica polvere inc. (“hpq polvere”), a wholly-owned subsidiary of hpq. as previously discussed in the company's news releases dated july 6, 2021 and march 12, 2024, pyrogenesis and hpq polvere are parties to a development and purchase agreement, pursuant to which pyrogenesis had the right to convert its rights to an annual royalty on the gross sales generated by hpq polvere into an ownership stake in that company.
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