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PyroGenesis Announces Completion of SR&ED Tax Credit Financing
PyroGenesis Announces Completion of SR&ED Tax Credit Financing PyroGenesis Ann...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\n\nPyroGenesis Announces Completion of SR&ED Tax Credit Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nPyroGenesis Announces Completion of SR&ED Tax Credit Financing\nCanada NewsWire\nMONTREAL, Feb. 18, 2015\n\n\n\nMONTREAL, Feb. 18, 2015 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR) (OTCQB: PYRNF), a TSX Venture 50® clean-tech company (the \"Company\" or \"PyroGenesis\") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, announce today that it completed a financing in which the Company received funding in the form of two (2) loans (together, the \"Loans\") with respect to its scientific research and experimental development credit (\"SR&ED Tax Credits\") for the Company's fiscal years ending December 31, 2014 and December 31, 2015 (the \"Financing\"). \n\nPursuant to the Financing, the Corporation granted R & D a security interest and movable hypothec on its assets, with a first rank claim on the refundable portion of its SR&ED Tax Credits for the fiscal years ending December 31, 2014 and December 31, 2015. \n\n\"This financing is the first of its type that the Company has entered into which is entirely non-dilutive to shareholders,\" said Mr. P. Peter Pascali, President and CEO of PyroGenesis. \"As the Company's cash flow improves, and its order backlog increases, management will increasingly look to these types of non-dilutive financings to fund growth.\"\n\nIn connection with the Financing, the Company paid Strategis Capital Advisors a cash commission of $6,000 CAD.\n\nAbout PyroGenesis Canada Inc. \n\nPyroGenesis Canada Inc., a TSX Venture 50® clean-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. Wit...