---
title: "PyroGenesis Reaches Out of Court Settlement to Acquire its Turcot Manufacturing Facility"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286450291.md"
description: "PyroGenesis has reached an out-of-court settlement to acquire its Turcot manufacturing facility in Montreal for $3.1 million. The company previously exercised an option to buy the plant for $2.75 million, but faced resistance from the owner, leading to a lawsuit. The settlement is expected to be approved by the Quebec Superior Court. CEO Peter Pascali highlighted the long-term benefits of securing the facility and the potential for a sale-leaseback structure to unlock value for stakeholders. The company's shares fell by 2.27% to $0.43 on the Toronto Stock Exchange."
datetime: "2026-05-14T17:25:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286450291.md)
  - [en](https://longbridge.com/en/news/286450291.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286450291.md)
---

# PyroGenesis Reaches Out of Court Settlement to Acquire its Turcot Manufacturing Facility

01:25 PM EDT, 05/14/2026 (MT Newswires) -- PyroGenesis ( PYRGF ) on Thursday said it reached an out-of-court settlement with the owner of its Turcot manufacturing facility in Montreal to sell it to the company for $3.1 million.

The company in 2022 exercised an contractual option to acquire the plant in for $2.75 million, but the owner refused to sell and PyroGenesis ( PYRGF ) launched a suit to force compliance in Quebec Superior Court. The court is expected to approve the settlement today.

This property is the company's 40,902 square feet facility. The Turcot facility is located about 6.2 kilometers from its downtown Montreal headquarters.

"This is great news, as we have managed to not only secure our key factory location for the long term, but we have also acquired an asset of significant value for our stakeholders," chief executive Peter Pascali "Our purchase price of approximately $76/sq. ft. is significantly under the current market price for this area ... A sale-leaseback structure could quickly unlock this value which the company could use to accelerate projects in its various businesses. We look forward to initiating sale-leaseback discussions with interested parties, very soon."

Shares of the company were last seen down $0.01 to $0.43 on the Toronto Stock Exchange.

Price: 0.43, Change: -0.01, Percent Change: -2.27

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

### Related Stocks

- [PYRGF.US](https://longbridge.com/en/quote/PYRGF.US.md)
- [MADE.US](https://longbridge.com/en/quote/MADE.US.md)

## Related News & Research

- [PyroGenesis Private Placement Oversubscribed, Upsizing to Up to $1.9 Million](https://longbridge.com/en/news/278779250.md)
- [PyroGenesis Announces First Quarter 2026 Results: Revenue of $4.9 Million, Up 63% Year-Over-Year for Best Quarter Since 2022 | PYRGF Stock News](https://longbridge.com/en/news/285633335.md)
- [How to Read the COT Report to Track Forex Market Sentiment](https://longbridge.com/en/news/286848676.md)
- [ESAB (ESAB) Q4 Earnings Report Preview: What To Look For](https://longbridge.com/en/news/285306264.md)
- [US manufacturing sector steady in April, but input costs surge amid Iran war](https://longbridge.com/en/news/284906729.md)