PYROGENESIS CANADA INC. ("PYR")
[formerly Industrial Growth Income Corporation ("IGI.H")]
BULLETIN TYPE: Resume Trading, Qualifying Transaction-Completed/New Symbol, Name Change and Consolidation, Graduation from NEX to TSX Venture
BULLETIN DATE: July 19, 2011
NEX Company
Resume Trading:
Effective at the open Wednesday, July 20, 2011, trading in the shares of Industrial Growth Income Corporation (the 'Company') will resume.
TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction described in its Filing Statement dated June 29, 2011. As a result, at the opening on Wednesday, July 20, 2011, the Company will no longer be considered a Capital Pool Company. The Qualifying Transaction includes the following:
Qualifying Transaction-Completed:
Pursuant to an arm's length amalgamation agreement dated June 1, 2011, the Company and PyroGenesis Canada Inc. ("PyroGenesis") have combined to form a resulting issuer with the same name, PyroGenesis Canada Inc. (the "Resulting Issuer"). Pursuant to the amalgamation, 1,300,000 shares of the Resulting Issuer were issued to the Company's shareholders at an exchange ratio of 0.32298 Resulting Issuer shares for each Company share. In exchange for the shares of PyroGenesis, 57,710,766 Resulting Issuer shares were issued to PyroGenesis shareholders at a deemed price of $0.80 per share for a total deemed consideration of $46,168,612.80.
A total of 45,235,800 Resulting Issuer shares issued pursuant to the Qualifying Transaction are subject to a Tier 2 Surplus Security Escrow Agreement to be released over a 36-month period from the date of this bulletin.
The Company is classified as a 'Waste Treatment and Disposal' company.
For further information, please refer to the Company's Filing Statement dated June 29, 2011 which is available on SEDAR.
In addition, the Exchange has accepted for filing the following:
Name Change and Consolidation:
Pursuant to a resolution passed by shareholders on July 7, 2011 approving the amalgamation, the Company has effectively consolidated its capital on a one old for 0.32298 new basis. The name of the Company has also been changed as follows.
Effective at the opening Wednesday, July 20, 2011, the common shares of PyroGenesis Canada Inc. will commence trading on TSX Venture Exchange, and the common shares of Industrial Growth Income Corporation will be delisted.
Graduation from NEX to TSX Venture:
The Company has met the requirements to be listed as a TSX Venture Tier 2 Company. Therefore, effective on Wednesday, July 20, 2011, the Company's listing will transfer from NEX to TSX Venture, the Company's Tier classification will change from NEX to Tier 2 and the Filing and Service Office will change from NEX to Calgary.
Effective at the opening Wednesday, July 20, 2011, the trading symbol for the Company will change from IGI.H to PYR.
Capitalization: Unlimited shares with no par value of which
59,010,766 shares are issued and outstanding
Escrow: 46,051,325 shares
Transfer Agent: Olympia Trust Company
Trading Symbol: PYR (new)
CUSIP Number: 74734T104 (new)
Company Contact: P. Peter Pascali, President, CEO & Director
Company Address: 1744 William Street, Suite 200
Montreal, QC H3J 1R4
Company Phone Number: (514) 937-0002
Company Fax Number: (514) 937-5757
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