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