pyro40f2022
--12-31 FY False 0001743344 40-F CA 937-0002 572-3133 Yes Yes 0001743344 pyr:SharesInHpqSiliconResourcesIncMember 2022-01-01 2022-12-31 0001743344 pyr:SharesInHpqSiliconResourcesIncMember 2021-01-01 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncMember 2021-01-01 2021-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember ifrs-full:GrossCarryingAmountMember 2020-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember ifrs-full:GrossCarryingAmountMember 2020-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:DevelopmentCostsMember 2020-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember ifrs-full:GrossCarryingAmountMember 2021-01-01 2021-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember ifrs-full:GrossCarryingAmountMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:DevelopmentCostsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember ifrs-full:GrossCarryingAmountMember 2021-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember ifrs-full:GrossCarryingAmountMember 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:DevelopmentCostsMember 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember 2020-12-31 0001743344 ifrs-full:GrossCarryingAmountMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember 2021-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember ifrs-full:GrossCarryingAmountMember 2022-01-01 2022-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember ifrs-full:GrossCarryingAmountMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:DevelopmentCostsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember ifrs-full:GrossCarryingAmountMember 2022-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember ifrs-full:GrossCarryingAmountMember 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:DevelopmentCostsMember 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CustomerrelatedIntangibleAssetsMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:DevelopmentCostsMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CustomerrelatedIntangibleAssetsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:DevelopmentCostsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CustomerrelatedIntangibleAssetsMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:DevelopmentCostsMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CustomerrelatedIntangibleAssetsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:DevelopmentCostsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CustomerrelatedIntangibleAssetsMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:DevelopmentCostsMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember 2022-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember 2021-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2021-12-31 0001743344 pyr:DevelopmentCostsMember 2021-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember 2022-12-31 0001743344 ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsMember 2022-12-31 0001743344 pyr:DevelopmentCostsMember 2022-12-31 0001743344 2021-12-31 0001743344 2022-12-31 0001743344 2022-01-01 2022-12-31 0001743344 2021-01-01 2021-12-31 0001743344 ifrs-full:IssuedCapitalMember 2021-12-31 0001743344 ifrs-full:IssuedCapitalMember 2022-01-01 2022-12-31 0001743344 ifrs-full:IssuedCapitalMember 2022-12-31 0001743344 ifrs-full:AdditionalPaidinCapitalMember 2021-12-31 0001743344 ifrs-full:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001743344 ifrs-full:RetainedEarningsMember 2021-12-31 0001743344 ifrs-full:AdditionalPaidinCapitalMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-12-31 0001743344 ifrs-full:RetainedEarningsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AdditionalPaidinCapitalMember 2022-12-31 0001743344 ifrs-full:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001743344 ifrs-full:RetainedEarningsMember 2022-12-31 0001743344 ifrs-full:IssuedCapitalMember 2020-12-31 0001743344 ifrs-full:AdditionalPaidinCapitalMember 2020-12-31 0001743344 ifrs-full:IssuedCapitalMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AdditionalPaidinCapitalMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001743344 ifrs-full:RetainedEarningsMember 2020-12-31 0001743344 ifrs-full:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0001743344 ifrs-full:RetainedEarningsMember 2021-01-01 2021-12-31 0001743344 2020-12-31 0001743344 pyr:SharesInBeauceGoldFieldsMember 2022-12-31 0001743344 pyr:SharesInBeauceGoldFieldsMember 2021-12-31 0001743344 pyr:SharesInHpqSiliconResourcesIncMember 2022-12-31 0001743344 pyr:SharesInHpqSiliconResourcesIncMember 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncMember 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncMember 2021-12-31 0001743344 pyr:SharesInBeauceGoldFieldsMember 2020-12-31 0001743344 pyr:SharesInHpqSiliconResourcesIncMember 2020-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncMember 2020-12-31 0001743344 pyr:SharesInBeauceGoldFieldsMember 2021-01-01 2021-12-31 0001743344 pyr:SharesInBeauceGoldFieldsMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateThreeMember 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFourMember 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateThreeMember 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFourMember 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateThreeMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFourMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member pyr:MeasurementInputFairValueOfSharesMember 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member pyr:MeasurementInputFairValueOfSharesMember 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:MeasurementInputFairValueOfSharesMember 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member pyr:IfrsMeasurementInputExpectedTermMember 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member pyr:IfrsMeasurementInputExpectedTermMember 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:IfrsMeasurementInputExpectedTermMember 2021-12-31 0001743344 ifrs-full:LaterThanOneMonthAndNotLaterThanTwoMonthsMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember 2022-12-31 0001743344 ifrs-full:LaterThanThreeMonthsMember 2022-12-31 0001743344 pyr:CostOfSalesAndServicesMember 2022-01-01 2022-12-31 0001743344 pyr:IfrssellingGeneralAndAdministrativeExpensesMember 2022-01-01 2022-12-31 0001743344 country:CA 2022-12-31 0001743344 country:IN 2022-12-31 0001743344 pyr:PyroGreenGasAndSubsidiariesMember 2022-12-31 0001743344 pyr:PyroGreenGasAndSubsidiariesMember 2021-08-11 0001743344 ifrs-full:ComputerEquipmentMember 2022-01-01 2022-12-31 0001743344 pyr:IfrsMachineryAndEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:MotorVehiclesMember 2022-01-01 2022-12-31 0001743344 ifrs-full:LeaseholdImprovementsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:CustomerrelatedIntangibleAssetsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:BottomOfRangeMember pyr:PatentsAndDevelopmentCostsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:TopOfRangeMember pyr:PatentsAndDevelopmentCostsMember 2022-01-01 2022-12-31 0001743344 pyr:PyroGreenGasAndSubsidiariesMember 2021-08-11 2021-08-11 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member pyr:MeasurementInputFairValueOfSharesMember 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member pyr:MeasurementInputFairValueOfSharesMember 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:MeasurementInputFairValueOfSharesMember 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnApril292020Member pyr:IfrsMeasurementInputExpectedTermMember 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnJune22020Member pyr:IfrsMeasurementInputExpectedTermMember 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:IfrsMeasurementInputExpectedTermMember 2022-12-31 0001743344 pyr:TrustBeneficiallyOwnedByControllingShareholderAndCeoMember 2022-12-31 0001743344 pyr:EdcLoanMember 2020-12-31 0001743344 pyr:OtherTermLoansOneMember 2020-12-31 0001743344 pyr:OtherTermLoansTwoMember 2020-12-31 0001743344 pyr:CanadaEmergencyBusinessLoanMember 2020-12-31 0001743344 pyr:EdcLoanMember 2021-01-01 2021-12-31 0001743344 pyr:OtherTermLoansOneMember 2021-01-01 2021-12-31 0001743344 pyr:OtherTermLoansTwoMember 2021-01-01 2021-12-31 0001743344 pyr:CanadaEmergencyBusinessLoanMember 2021-01-01 2021-12-31 0001743344 pyr:EdcLoanMember 2021-12-31 0001743344 pyr:OtherTermLoansOneMember 2021-12-31 0001743344 pyr:OtherTermLoansTwoMember 2021-12-31 0001743344 pyr:CanadaEmergencyBusinessLoanMember 2021-12-31 0001743344 pyr:EdcLoanMember 2022-01-01 2022-12-31 0001743344 pyr:OtherTermLoansOneMember 2022-01-01 2022-12-31 0001743344 pyr:OtherTermLoansTwoMember 2022-01-01 2022-12-31 0001743344 pyr:CanadaEmergencyBusinessLoanMember 2022-01-01 2022-12-31 0001743344 pyr:EdcLoanMember 2022-12-31 0001743344 pyr:OtherTermLoansOneMember 2022-12-31 0001743344 pyr:OtherTermLoansTwoMember 2022-12-31 0001743344 pyr:CanadaEmergencyBusinessLoanMember 2022-12-31 0001743344 pyr:PurevapMember 2022-01-01 2022-12-31 0001743344 pyr:DrosriteMember 2022-01-01 2022-12-31 0001743344 pyr:DevelopmentAndSupportMember 2022-01-01 2022-12-31 0001743344 pyr:TorchRelatedSalesMember 2022-01-01 2022-12-31 0001743344 pyr:BiogasUpgradingAndPollutionControlsMember 2022-01-01 2022-12-31 0001743344 pyr:OtherSalesAndServicesMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GoodsOrServicesTransferredOverTimeMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember 2022-01-01 2022-12-31 0001743344 pyr:IntellectualPropertiesMember 2022-01-01 2022-12-31 0001743344 pyr:Hpq2016ContractMember 2022-01-01 2022-12-31 0001743344 pyr:HpqNanoContractMember 2022-01-01 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:Hpq2016ContractMember 2022-12-31 0001743344 ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember pyr:Hpq2016ContractMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:HpqNanoContractMember 2022-12-31 0001743344 ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember pyr:HpqNanoContractMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:HpqNanoContractMember 2022-12-31 0001743344 ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember pyr:HpqNanoContractMember 2022-12-31 0001743344 pyr:HpqPolvereContractMember 2022-01-01 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:HpqPolvereContractMember 2022-12-31 0001743344 ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember pyr:HpqPolvereContractMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:HpqPolvereContractMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsAndNotLaterThanSevenYearsMember pyr:HpqPolvereContractMember 2022-12-31 0001743344 pyr:EdcLoanMember 2020-03-05 0001743344 pyr:EdcLoanMember 2020-03-05 2020-03-05 0001743344 ifrs-full:ComputerEquipmentMember ifrs-full:GrossCarryingAmountMember 2020-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:IfrsMachineryAndEquipmentMember 2020-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:MotorVehiclesMember 2020-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:LeaseholdImprovementsMember 2020-12-31 0001743344 ifrs-full:ConstructionInProgressMember ifrs-full:GrossCarryingAmountMember 2020-12-31 0001743344 ifrs-full:ComputerEquipmentMember ifrs-full:GrossCarryingAmountMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:MotorVehiclesMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:LeaseholdImprovementsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:ConstructionInProgressMember ifrs-full:GrossCarryingAmountMember 2021-01-01 2021-12-31 0001743344 ifrs-full:ComputerEquipmentMember ifrs-full:GrossCarryingAmountMember 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:IfrsMachineryAndEquipmentMember 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:MotorVehiclesMember 2021-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:LeaseholdImprovementsMember 2021-12-31 0001743344 ifrs-full:ConstructionInProgressMember ifrs-full:GrossCarryingAmountMember 2021-12-31 0001743344 ifrs-full:ComputerEquipmentMember ifrs-full:GrossCarryingAmountMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:MotorVehiclesMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:LeaseholdImprovementsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:ConstructionInProgressMember ifrs-full:GrossCarryingAmountMember 2022-01-01 2022-12-31 0001743344 ifrs-full:ComputerEquipmentMember ifrs-full:GrossCarryingAmountMember 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:IfrsMachineryAndEquipmentMember 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:MotorVehiclesMember 2022-12-31 0001743344 ifrs-full:GrossCarryingAmountMember ifrs-full:LeaseholdImprovementsMember 2022-12-31 0001743344 ifrs-full:ConstructionInProgressMember ifrs-full:GrossCarryingAmountMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ComputerEquipmentMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:IfrsMachineryAndEquipmentMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:MotorVehiclesMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:LeaseholdImprovementsMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ComputerEquipmentMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:IfrsMachineryAndEquipmentMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:MotorVehiclesMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:LeaseholdImprovementsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ComputerEquipmentMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:IfrsMachineryAndEquipmentMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:MotorVehiclesMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:LeaseholdImprovementsMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ComputerEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:IfrsMachineryAndEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:MotorVehiclesMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:LeaseholdImprovementsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ComputerEquipmentMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember pyr:IfrsMachineryAndEquipmentMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:MotorVehiclesMember 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:LeaseholdImprovementsMember 2022-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2021-12-31 0001743344 pyr:IfrsMachineryAndEquipmentMember 2021-12-31 0001743344 ifrs-full:MotorVehiclesMember 2021-12-31 0001743344 ifrs-full:LeaseholdImprovementsMember 2021-12-31 0001743344 ifrs-full:ConstructionInProgressMember 2021-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2022-12-31 0001743344 pyr:IfrsMachineryAndEquipmentMember 2022-12-31 0001743344 ifrs-full:MotorVehiclesMember 2022-12-31 0001743344 ifrs-full:LeaseholdImprovementsMember 2022-12-31 0001743344 ifrs-full:ConstructionInProgressMember 2022-12-31 0001743344 ifrs-full:GoodwillMember 2022-12-31 0001743344 ifrs-full:GoodwillMember 2022-01-01 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember 2022-12-31 0001743344 pyr:SetOffOfTaxMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember 2021-12-31 0001743344 pyr:SetOffOfTaxMember 2021-12-31 0001743344 pyr:StrategicInvestmentsMember 2022-12-31 0001743344 pyr:RoyaltyReceivableMember 2022-12-31 0001743344 ifrs-full:PropertyPlantAndEquipmentMember 2022-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember 2022-12-31 0001743344 pyr:DeferredIncomeMember 2022-12-31 0001743344 ifrs-full:RightofuseAssetsMember 2022-12-31 0001743344 pyr:SetOffTaxNetMember 2022-12-31 0001743344 pyr:StrategicInvestmentsMember 2021-12-31 0001743344 pyr:RoyaltyReceivableMember 2021-12-31 0001743344 ifrs-full:PropertyPlantAndEquipmentMember 2021-12-31 0001743344 ifrs-full:RightofuseAssetsMember 2021-12-31 0001743344 pyr:SetOffTaxNetMember 2021-12-31 0001743344 ifrs-full:LandAndBuildingsMember 2020-12-31 0001743344 ifrs-full:LandAndBuildingsMember 2021-01-01 2021-12-31 0001743344 ifrs-full:LandAndBuildingsMember 2021-12-31 0001743344 ifrs-full:LandAndBuildingsMember 2022-12-31 0001743344 ifrs-full:LandAndBuildingsMember 2022-01-01 2022-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2020-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2021-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2022-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:ComputerEquipmentMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-04-20 0001743344 pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-04-20 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:MeasurementInputFairValueOfSharesMember 2022-04-20 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member 2022-04-20 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:WarrantsInHpqSiliconResourcesIncIssuedOnSeptember32020Member pyr:IfrsMeasurementInputExpectedTermMember 2022-04-20 0001743344 pyr:ResearchAndDevelopmentExpensesWithoutTimeLimitationMember pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:ResearchAndDevelopmentExpensesWithoutTimeLimitationMember pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:ResearchAndDevelopmentExpensesWithoutTimeLimitationMember pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2029Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2030Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2031Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2032Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2033Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2034Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2035Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2036Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2037Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2038Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2039Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2040Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2041Member 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2034Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2035Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2036Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2037Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2038Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2039Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2040Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember pyr:IndefiniteMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:FinancingCostsMember 2022-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:FinancingCostsMember 2021-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:CapitalLossMember 2022-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:FinancingCostsMember 2022-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:CapitalLossMember 2022-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:FinancingCostsMember 2021-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:CurrencyRiskMember 2022-12-31 0001743344 ifrs-full:CurrencyRiskMember 2021-12-31 0001743344 pyr:CustomerOneMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 pyr:CustomerOneMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 pyr:CustomerTwoMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 pyr:CustomerTwoMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 pyr:CustomerThreeMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 pyr:CustomerThreeMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 pyr:CustomerFourMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 pyr:CustomerFourMember pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 ifrs-full:CurrencyRiskMember 2022-01-01 2022-12-31 0001743344 ifrs-full:CurrencyRiskMember 2021-01-01 2021-12-31 0001743344 ifrs-full:OtherPriceRiskMember 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnNovember32017Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJuly32018Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober292018Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnSeptember292019Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJanuary22020Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJuly162020Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober262020Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnApril62021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJune12021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJune142021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober142021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnDecember172021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnDecember302021Member 2022-12-31 0001743344 pyr:StockOptionsGrantedOnNovember32017Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober292018Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJuly162020Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJuly32018Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnSeptember292019Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJanuary22020Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober262020Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnApril62021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJune12021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnJune142021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnOctober142021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnDecember172021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnDecember302021Member 2022-01-01 2022-12-31 0001743344 pyr:StockOptionsGrantedOnNovember32017Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJuly32018Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober292018Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnSeptember292019Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJanuary22020Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJuly162020Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober262020Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnApril62021Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJune12021Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJune142021Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober142021Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnDecember172021Member 2021-12-31 0001743344 pyr:StockOptionsGrantedOnDecember302021Member 2021-12-31 0001743344 2021-12-30 2021-12-30 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2021-12-17 2021-12-17 0001743344 srt:ChiefFinancialOfficerMember 2021-10-14 2021-10-14 0001743344 srt:ChiefFinancialOfficerMember pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2021-10-14 2021-10-14 0001743344 srt:ChiefFinancialOfficerMember pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2021-10-14 2021-10-14 0001743344 srt:ChiefFinancialOfficerMember pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2021-10-14 2021-10-14 0001743344 srt:ChiefFinancialOfficerMember pyr:ShareBasedPaymentArrangementTrancheFourMember 2021-10-14 2021-10-14 0001743344 2021-06-14 2021-06-14 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2021-06-14 2021-06-14 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2021-06-14 2021-06-14 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2021-06-14 2021-06-14 0001743344 pyr:ShareBasedPaymentArrangementTrancheFourMember 2021-06-14 2021-06-14 0001743344 2021-06-01 2021-06-01 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2021-06-01 2021-06-01 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2021-06-01 2021-06-01 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2021-06-01 2021-06-01 0001743344 pyr:ShareBasedPaymentArrangementTrancheFourMember 2021-06-01 2021-06-01 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2021-04-06 2021-04-06 0001743344 pyr:MemberOfBoardOfDirectorsOneMember 2021-04-06 2021-04-06 0001743344 pyr:MemberOfBoardOfDirectorsTwoMember 2021-04-06 2021-04-06 0001743344 pyr:EmployeesMember 2021-04-06 2021-04-06 0001743344 2021-04-06 2021-04-06 0001743344 pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2022-12-31 0001743344 pyr:TeamLoansMember 2022-12-31 0001743344 pyr:DueOnBusinessCombinationMember 2022-12-31 0001743344 ifrs-full:LeaseLiabilitiesMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:TeamLoansMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:TeamLoansMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:TeamLoansMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:TeamLoansMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:DueOnBusinessCombinationMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:DueOnBusinessCombinationMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:DueOnBusinessCombinationMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:DueOnBusinessCombinationMember 2022-12-31 0001743344 ifrs-full:LeaseLiabilitiesMember ifrs-full:NotLaterThanOneYearMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember ifrs-full:LeaseLiabilitiesMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember ifrs-full:LeaseLiabilitiesMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember ifrs-full:LeaseLiabilitiesMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember 2022-12-31 0001743344 pyr:ConsultantsMember 2022-01-01 2022-12-31 0001743344 pyr:MemberOfBoardOfDirectorsMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheOneMember pyr:VestingOfRemaining100000StockOptionsMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember pyr:VestingOfRemaining100000StockOptionsMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember pyr:VestingOfRemaining100000StockOptionsMember 2021-04-06 2021-04-06 0001743344 pyr:ShareBasedPaymentArrangementTrancheFourMember pyr:VestingOfRemaining100000StockOptionsMember 2021-04-06 2021-04-06 0001743344 ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember 2022-12-31 0001743344 ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember 2022-12-31 0001743344 srt:ScenarioForecastMember pyr:CanadaEmergencyBusinessLoanMember 2023-12-31 0001743344 ifrs-full:GrossCarryingAmountMember pyr:IfrsMachineryAndEquipmentMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ConstructionInProgressMember 2020-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ConstructionInProgressMember 2021-01-01 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ConstructionInProgressMember 2022-01-01 2022-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ConstructionInProgressMember 2021-12-31 0001743344 ifrs-full:AccumulatedDepreciationAndAmortisationMember ifrs-full:ConstructionInProgressMember 2022-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember 2021-12-31 0001743344 pyr:DeferredIncomeMember 2021-12-31 0001743344 pyr:SetOffTaxAssetsLiabilitiesMember 2022-12-31 0001743344 pyr:SetOffTaxAssetsLiabilitiesMember 2021-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:CapitalLossMember 2021-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:CapitalLossMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:IndefiniteMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:IndefiniteMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:IndefiniteMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:IndefiniteMember 2021-12-31 0001743344 pyr:ResearchAndDevelopmentExpensesWithoutTimeLimitationMember pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2029Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2030Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2031Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2032Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2033Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2034Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2035Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2036Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2037Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2038Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2039Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2040Member pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2041Member 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2029Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2029Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2030Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2030Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2031Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2031Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2032Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2032Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2033Member pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2033Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2034Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2035Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2036Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2037Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2038Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2039Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2041Member 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2041Member 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:MemberOfBoardOfDirectorsMember 2021-12-30 2021-12-30 0001743344 srt:OfficerMember 2021-06-14 2021-06-14 0001743344 pyr:MemberOfBoardOfDirectorsMember 2021-06-01 2021-06-01 0001743344 pyr:EmployeesMember pyr:VestingOfRemaining100000StockOptionsMember 2021-04-06 2021-04-06 0001743344 pyr:IfrsResearchAndDevelopmentExpenseMember 2022-01-01 2022-12-31 0001743344 pyr:PurevapMember 2021-01-01 2021-12-31 0001743344 pyr:DrosriteMember 2021-01-01 2021-12-31 0001743344 pyr:DevelopmentAndSupportMember 2021-01-01 2021-12-31 0001743344 pyr:TorchRelatedSalesMember 2021-01-01 2021-12-31 0001743344 pyr:BiogasUpgradingAndPollutionControlsMember 2021-01-01 2021-12-31 0001743344 pyr:OtherSalesAndServicesMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GoodsOrServicesTransferredOverTimeMember 2021-01-01 2021-12-31 0001743344 ifrs-full:GoodsOrServicesTransferredAtPointInTimeMember 2021-01-01 2021-12-31 0001743344 pyr:IntellectualPropertiesMember 2022-12-31 0001743344 ifrs-full:LaterThanOneMonthAndNotLaterThanTwoMonthsMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember 2021-12-31 0001743344 ifrs-full:LaterThanThreeMonthsMember 2021-12-31 0001743344 pyr:CostOfSalesAndServicesMember 2021-01-01 2021-12-31 0001743344 pyr:IfrsResearchAndDevelopmentExpenseMember 2021-01-01 2021-12-31 0001743344 pyr:IfrssellingGeneralAndAdministrativeExpensesMember 2021-01-01 2021-12-31 0001743344 pyr:HpqSiliconResourcesIncMember 2022-01-01 2022-12-31 0001743344 pyr:HpqSiliconResourcesIncMember 2021-01-01 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFiveMember 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFiveMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateFiveMember 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateTwoMember 2021-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateTwoMember 2022-01-01 2022-12-31 0001743344 pyr:WarrantsInHpqSiliconResourcesIncWithExpiryDateTwoMember 2022-12-31 0001743344 pyr:HpqWarrantsIssuedOnApril202022Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:MeasurementInputFairValueOfSharesMember pyr:HpqWarrantsIssuedOnApril202022Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:InterestRateMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:HpqWarrantsIssuedOnApril202022Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:HistoricalVolatilityForSharesMeasurementInputMember ifrs-full:OptionPricingModelMember pyr:HpqWarrantsIssuedOnApril202022Member 2022-12-31 0001743344 ifrs-full:AtFairValueMember ifrs-full:OptionPricingModelMember pyr:IfrsMeasurementInputExpectedTermMember pyr:HpqWarrantsIssuedOnApril202022Member 2022-12-31 0001743344 pyr:Hpq2016ContractMember 2021-01-01 2021-12-31 0001743344 pyr:HpqNanoContractMember 2021-01-01 2021-12-31 0001743344 2020-01-01 2020-12-31 0001743344 2022-01-01 0001743344 2022-01-01 2022-01-01 0001743344 2022-09-01 0001743344 2022-09-01 2022-09-01 0001743344 pyr:NonBrokeredPrivatePlacementMember 2022-10-19 2022-10-19 0001743344 pyr:NonBrokeredPrivatePlacementMember 2022-10-19 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2022-01-03 2022-01-03 0001743344 pyr:MemberOfBoardOfDirectorsMember 2022-01-03 2022-01-03 0001743344 2022-01-03 2022-01-03 0001743344 pyr:EmployeesMember 2022-04-05 2022-04-05 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2022-04-05 2022-04-05 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2022-04-05 2022-04-05 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2022-04-05 2022-04-05 0001743344 pyr:EmployeesMember pyr:ShareBasedPaymentArrangementTrancheFourMember 2022-04-05 2022-04-05 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2022-06-02 2022-06-02 0001743344 pyr:MemberOfBoardOfDirectorsMember 2022-06-02 2022-06-02 0001743344 2022-06-02 2022-06-02 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2022-06-02 2022-06-02 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2022-06-02 2022-06-02 0001743344 pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2022-06-02 2022-06-02 0001743344 pyr:ShareBasedPaymentArrangementTrancheFourMember 2022-06-02 2022-06-02 0001743344 pyr:EmployeesMember 2022-07-03 2022-07-03 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2022-07-03 2022-07-03 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2022-07-03 2022-07-03 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2022-07-03 2022-07-03 0001743344 pyr:EmployeesMember pyr:ShareBasedPaymentArrangementTrancheFourMember 2022-07-03 2022-07-03 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2022-12-31 2022-12-31 0001743344 pyr:MemberOfBoardOfDirectorsMember 2022-12-31 2022-12-31 0001743344 2022-12-31 2022-12-31 0001743344 pyr:January32022Member 2021-12-31 0001743344 pyr:January32022Member 2022-01-01 2022-12-31 0001743344 pyr:January32022Member 2022-12-31 0001743344 pyr:April52022Member 2021-12-31 0001743344 pyr:April52022Member 2022-01-01 2022-12-31 0001743344 pyr:April52022Member 2022-12-31 0001743344 pyr:June22022Member 2021-12-31 0001743344 pyr:June22022Member 2022-01-01 2022-12-31 0001743344 pyr:June22022Member 2022-12-31 0001743344 pyr:July132022Member 2021-12-31 0001743344 pyr:July132022Member 2022-01-01 2022-12-31 0001743344 pyr:July132022Member 2022-12-31 0001743344 pyr:IssuanceOfUnitsOctober192022Member 2021-12-31 0001743344 pyr:IssuanceOfUnitsOctober192022Member 2022-01-01 2022-12-31 0001743344 pyr:IssuanceOfUnitsOctober192022Member 2022-12-31 0001743344 pyr:TrustBeneficiallyOwnedByControllingShareholderAndCeoMember 2021-12-31 0001743344 pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember pyr:TwoCustomersMember 2022-01-01 2022-12-31 0001743344 pyr:RevenueMember pyr:IfrsCustomerConcentrationRiskMember pyr:FourCustomersMember 2021-01-01 2021-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerOneMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerOneMember pyr:IfrsCustomerConcentrationRiskMember 2022-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerOneMember pyr:IfrsCustomerConcentrationRiskMember 2021-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:IfrsCustomerConcentrationRiskMember 2021-01-01 2021-12-31 0001743344 ifrs-full:OtherPriceRiskMember 2021-01-01 2021-12-31 0001743344 pyr:LineOfCreditMember 2022-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember 2022-12-31 0001743344 pyr:LineOfCreditMember 2022-01-01 2022-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember 2022-01-01 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2032Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2033Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2034Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2035Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2036Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2037Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2038Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2039Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2040Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember pyr:IndefiniteMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 country:BR 2022-01-01 2022-12-31 0001743344 country:BR 2021-01-01 2021-12-31 0001743344 country:CA 2022-01-01 2022-12-31 0001743344 country:CA 2021-01-01 2021-12-31 0001743344 pyr:EnglandMember 2022-01-01 2022-12-31 0001743344 pyr:EnglandMember 2021-01-01 2021-12-31 0001743344 country:DE 2022-01-01 2022-12-31 0001743344 country:DE 2021-01-01 2021-12-31 0001743344 country:IN 2022-01-01 2022-12-31 0001743344 country:IN 2021-01-01 2021-12-31 0001743344 country:IL 2022-01-01 2022-12-31 0001743344 country:IL 2021-01-01 2021-12-31 0001743344 country:IT 2022-01-01 2022-12-31 0001743344 country:IT 2021-01-01 2021-12-31 0001743344 country:MX 2022-01-01 2022-12-31 0001743344 country:MX 2021-01-01 2021-12-31 0001743344 country:NL 2022-01-01 2022-12-31 0001743344 country:NL 2021-01-01 2021-12-31 0001743344 country:PL 2022-01-01 2022-12-31 0001743344 country:PL 2021-01-01 2021-12-31 0001743344 country:SA 2022-01-01 2022-12-31 0001743344 country:SA 2021-01-01 2021-12-31 0001743344 country:ZA 2022-01-01 2022-12-31 0001743344 country:ZA 2021-01-01 2021-12-31 0001743344 country:ES 2022-01-01 2022-12-31 0001743344 country:ES 2021-01-01 2021-12-31 0001743344 country:US 2022-01-01 2022-12-31 0001743344 country:US 2021-01-01 2021-12-31 0001743344 country:VN 2022-01-01 2022-12-31 0001743344 country:VN 2021-01-01 2021-12-31 0001743344 country:CA 2021-12-31 0001743344 country:IN 2021-12-31 0001743344 ifrs-full:PotentialOrdinaryShareTransactionsMember pyr:NonBrokeredPrivatePlacementMember 2023-03-08 2023-03-08 0001743344 ifrs-full:PotentialOrdinaryShareTransactionsMember pyr:NonBrokeredPrivatePlacementMember 2023-03-08 0001743344 srt:ScenarioForecastMember pyr:CanadaEmergencyBusinessLoanMember 2023-01-01 2023-12-31 0001743344 pyr:BankIndebtednessMember 2022-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:BankIndebtednessMember 2022-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:BankIndebtednessMember 2022-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:BankIndebtednessMember 2022-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:BankIndebtednessMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:Year2040Member pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:PyroGreenGasAndSubsidiariesMember 2021-01-01 2021-12-31 0001743344 pyr:PyroGreenGasAndSubsidiariesMember 2022-01-01 2022-12-31 0001743344 pyr:IntellectualPropertiesMember 2021-06-01 2021-06-30 0001743344 ifrs-full:TopOfRangeMember 2022-12-31 0001743344 ifrs-full:BottomOfRangeMember 2022-12-31 0001743344 pyr:OneSpecificCustomerMember 2022-01-01 2022-12-31 0001743344 pyr:OneSpecificCustomerMember 2021-12-31 0001743344 pyr:OneSpecificCustomerMember 2022-12-31 0001743344 pyr:HpqNanoSiliconPowdersIncMember pyr:ConversionOfFutureRoyaltiesToEquityStakeMember 2022-01-01 2022-12-31 0001743344 pyr:HpqSilicaPolvereIncMember pyr:ConversionOfFutureRoyaltiesToEquityStakeMember 2022-01-01 2022-12-31 0001743344 pyr:Hpq2016ContractMember 2016-01-01 2016-12-31 0001743344 pyr:HpqNanoContractMember 2020-01-01 2020-12-31 0001743344 2020-11-03 0001743344 ifrs-full:GrossCarryingAmountMember pyr:IfrsMachineryAndEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:GoodwillMember 2021-12-31 0001743344 dei:BusinessContactMember 2022-01-01 2022-12-31 0001743344 pyr:BoughtDealShortFormProspectusOfferingMember 2022-01-01 2022-12-31 0001743344 2021-01-31 0001743344 2022-02-28 0001743344 pyr:EmployeesMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheOneMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheTwoMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesMember pyr:IfrsShareBasedPaymentArrangementTrancheThreeMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesMember pyr:ShareBasedPaymentArrangementTrancheFourMember 2022-01-01 2022-12-31 0001743344 pyr:UncompletedContractsMember 2022-12-31 0001743344 pyr:PresidentAndChiefExecutiveOfficerMember 2022-01-01 2022-12-31 0001743344 pyr:TrustBeneficiallyOwnedByControllingShareholderAndCeoMember 2022-01-01 2022-12-31 0001743344 pyr:TrustBeneficiallyOwnedByControllingShareholderAndCeoMember 2021-01-01 2021-12-31 0001743344 pyr:ScientificResearchAndExperimentalDevelopmentMember 2021-01-01 2021-12-31 0001743344 pyr:ScientificResearchAndExperimentalDevelopmentMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesAndOfficersMember 2022-01-01 2022-12-31 0001743344 pyr:MemberOfBoardOfDirectorsMember 2022-01-01 2022-12-31 0001743344 pyr:EmployeesAndOfficersMember 2021-01-01 2021-12-31 0001743344 pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:Ifrs_accountsPayableAndAccruedLiabilitiesMember 2021-12-31 0001743344 pyr:TeamLoansMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:TeamLoansMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:TeamLoansMember 2021-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:TeamLoansMember 2021-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:TeamLoansMember 2021-12-31 0001743344 pyr:DueOnBusinessCombinationMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember pyr:DueOnBusinessCombinationMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember pyr:DueOnBusinessCombinationMember 2021-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember pyr:DueOnBusinessCombinationMember 2021-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember pyr:DueOnBusinessCombinationMember 2021-12-31 0001743344 ifrs-full:LeaseLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LeaseLiabilitiesMember ifrs-full:NotLaterThanOneYearMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember ifrs-full:LeaseLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember ifrs-full:LeaseLiabilitiesMember 2021-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember ifrs-full:LeaseLiabilitiesMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneYearMember 2021-12-31 0001743344 ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember 2021-12-31 0001743344 ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember 2021-12-31 0001743344 ifrs-full:LaterThanFiveYearsMember 2021-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember pyr:CanadianFacilityMember 2022-01-01 2022-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember pyr:ItalianFacilityMember 2022-01-01 2022-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerOneMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerTwoMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 ifrs-full:TradeReceivablesMember pyr:CustomerThreeMember pyr:IfrsCustomerConcentrationRiskMember 2022-01-01 2022-12-31 0001743344 ifrs-full:WarrantReserveMember 2021-12-31 0001743344 ifrs-full:WarrantReserveMember 2022-01-01 2022-12-31 0001743344 ifrs-full:WarrantReserveMember 2022-12-31 0001743344 ifrs-full:WarrantReserveMember 2020-12-31 0001743344 ifrs-full:WarrantReserveMember 2021-01-01 2021-12-31 0001743344 ifrs-full:PotentialOrdinaryShareTransactionsMember 2023-03-08 2023-03-08 0001743344 2022-10-01 2022-10-31 0001743344 pyr:IntellectualPropertiesMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneMonthMember 2022-12-31 0001743344 pyr:UncompletedContractsMember 2021-12-31 0001743344 2022-10-19 0001743344 2022-10-19 2022-10-19 0001743344 pyr:StockOptionsGrantedOnNovember32017Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnNovember32017Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJuly32018Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnJuly32018Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober292018Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnOctober292018Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnSeptember292019Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnSeptember292019Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJanuary22020Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnJanuary22020Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJuly162020Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnJuly162020Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober262020Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnOctober262020Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnApril62021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnApril62021Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJune12021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnJune12021Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnJune142021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnJune142021Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnOctober142021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnOctober142021Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnDecember172021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnDecember172021Member 2021-01-01 2021-12-31 0001743344 pyr:StockOptionsGrantedOnDecember302021Member 2020-12-31 0001743344 pyr:StockOptionsGrantedOnDecember302021Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsSeptember282018Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsSeptember282018Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsSeptember282018Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober192018Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober192018Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober192018Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay152019Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay152019Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay152019Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay282019Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay282019Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsMay282019Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsJune192019Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsJune192019Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsJune192019Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober252019Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober252019Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsOctober252019Member 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsNovember102020Member 2020-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsNovember102020Member 2021-01-01 2021-12-31 0001743344 pyr:WarrantsFromIssuanceOfUnitsNovember102020Member 2021-12-31 0001743344 pyr:IssuanceOfWarrantsNovember102020Member 2020-12-31 0001743344 pyr:IssuanceOfWarrantsNovember102020Member 2021-01-01 2021-12-31 0001743344 pyr:IssuanceOfWarrantsNovember102020Member 2021-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember pyr:CanadianFacilityMember 2022-12-31 0001743344 srt:SubsidiariesMember pyr:LineOfCreditMember pyr:ItalianFacilityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember 2020-12-31 0001743344 pyr:StrategicInvestmentsMember 2020-12-31 0001743344 pyr:InvestmentTaxCreditsMember 2020-12-31 0001743344 pyr:RoyaltyReceivableMember 2020-12-31 0001743344 ifrs-full:PropertyPlantAndEquipmentMember 2020-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember 2020-12-31 0001743344 pyr:DeferredIncomeMember 2020-12-31 0001743344 pyr:RightOfUseAssetsNetOfLiabilitiesMember 2020-12-31 0001743344 ifrs-full:UnusedTaxLossesMember 2021-01-01 2021-12-31 0001743344 pyr:StrategicInvestmentsMember 2021-01-01 2021-12-31 0001743344 pyr:InvestmentTaxCreditsMember 2021-01-01 2021-12-31 0001743344 pyr:RoyaltyReceivableMember 2021-01-01 2021-12-31 0001743344 ifrs-full:PropertyPlantAndEquipmentMember 2021-01-01 2021-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember 2021-01-01 2021-12-31 0001743344 pyr:DeferredIncomeMember 2021-01-01 2021-12-31 0001743344 pyr:RightOfUseAssetsNetOfLiabilitiesMember 2021-01-01 2021-12-31 0001743344 pyr:InvestmentTaxCreditsMember 2021-12-31 0001743344 pyr:RightOfUseAssetsNetOfLiabilitiesMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember 2022-01-01 2022-12-31 0001743344 pyr:StrategicInvestmentsMember 2022-01-01 2022-12-31 0001743344 pyr:InvestmentTaxCreditsMember 2022-01-01 2022-12-31 0001743344 pyr:InvestmentTaxCreditsMember 2022-12-31 0001743344 pyr:RoyaltyReceivableMember 2022-01-01 2022-12-31 0001743344 ifrs-full:PropertyPlantAndEquipmentMember 2022-01-01 2022-12-31 0001743344 ifrs-full:IntangibleAssetsOtherThanGoodwillMember 2022-01-01 2022-12-31 0001743344 pyr:DeferredIncomeMember 2022-01-01 2022-12-31 0001743344 pyr:RightOfUseAssetsNetOfLiabilitiesMember 2022-01-01 2022-12-31 0001743344 pyr:RightOfUseAssetsNetOfLiabilitiesMember 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2042Member 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2042Member 2022-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2042Member 2021-12-31 0001743344 pyr:FederalResearchAndDevelopmentInvestmentTaxCreditsMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2042Member 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2041Member 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2041Member 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2041Member pyr:ForeignTaxAuthorityMember 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2041Member 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2041Member 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:Year2041Member pyr:ForeignTaxAuthorityMember 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2042Member 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2042Member 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember pyr:Year2042Member 2022-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsDomesticTaxAuthorityMember pyr:Year2042Member 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:IfrsStateAndLocalJurisdictionMember pyr:Year2042Member 2021-12-31 0001743344 ifrs-full:UnusedTaxLossesMember pyr:ForeignTaxAuthorityMember pyr:Year2042Member 2021-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:RightOfUseAssetsNetOfLiabilitiesMember 2022-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:RightOfUseAssetsNetOfLiabilitiesMember 2022-12-31 0001743344 pyr:IfrsDomesticTaxAuthorityMember pyr:RightOfUseAssetsNetOfLiabilitiesMember 2021-12-31 0001743344 pyr:IfrsStateAndLocalJurisdictionMember pyr:RightOfUseAssetsNetOfLiabilitiesMember 2021-12-31 0001743344 pyr:StrategicInvestmentsMember pyr:IfrsDomesticTaxAuthorityMember 2022-12-31 0001743344 pyr:StrategicInvestmentsMember pyr:IfrsStateAndLocalJurisdictionMember 2022-12-31 0001743344 pyr:StrategicInvestmentsMember pyr:IfrsDomesticTaxAuthorityMember 2021-12-31 0001743344 pyr:StrategicInvestmentsMember pyr:IfrsStateAndLocalJurisdictionMember 2021-12-31 0001743344 pyr:IntellectualPropertiesMember 2021-01-01 2021-12-31 0001743344 pyr:RoyaltiesMember 2022-01-01 2022-12-31 0001743344 pyr:RoyaltiesMember 2021-01-01 2021-12-31 0001743344 2023-01-01 2023-03-30 0001743344 ifrs-full:CurrentMember 2022-12-31 0001743344 ifrs-full:CurrentMember 2021-12-31 0001743344 ifrs-full:NotLaterThanOneMonthMember 2021-12-31 iso4217:CAD iso4217:EUR xbrli:pure xbrli:shares dummy:Item iso4217:CAD xbrli:shares dummy:segment dummy:months
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
40-F
 
REGISTRATION STATEMENT
 
PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE
 
ACT OF 1934
OR
 
ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES
 
EXCHANGE ACT OF 1934
For the fiscal year ended
 
Commission File Number:
 
December 31, 2022
 
 
001-39989
 
PYROGENESIS CANADA INC.
 
(Exact name of Registrant as specified in its charter)
Canada
 
3599
 
N/A
(Province or Other Jurisdiction
of Incorporation or
Organization)
(Primary Standard
Industrial Classification Code)
(I.R.S. Employer Identification
No.)
1744, William St. Suite 200
Montréal
,
QC
,
H3J1R4
CANADA
Attention:
P. Peter Pascali
Chief Executive Officer
Tel:
1
-
514
-
937-0002
 
(Address and telephone number of Registrant’s principal executive offices)
National Registered Agents, Inc.
1209 Orange St.
Wilmington
,
Delaware
19801
Tel:
202
-
572-3133
 
(Name, address (including zip code) and telephone number (including area code) of agent for
 
service in the United States)
Securities registered or to be registered pursuant to section
 
12(b) of the Act:
 
 
Name of Each Exchange on Which
 
Title of Each Class
 
Trading Symbol(s)
Registered:
Common Shares, no par value
PYR
The Nasdaq Stock Market LLC
Securities registered or to be registered pursuant to Section 12(g)
 
of the Act:
None
Securities for which there is a reporting obligation pursuant to Section
 
15(d) of the Act:
None
For annual reports, indicate by check mark the information
 
filed with this Form:
 
Annual Information Form
 
 
Audited Annual Financial Statements
Indicate the number of outstanding shares of each of the
 
Registrant’s classes of capital or common stock as of the close of the period covered
 
by the annual report:
Title of Each Class
 
Number of outstanding shares
Common Shares, no par value
173,580,395
 
Indicate by check mark whether the Registrant (1) has filed
 
all reports required to be filed by Section 13 or 15(d)
 
of the Exchange Act during the preceding 12 months
(or for such shorter period that the Registrant was required
 
to file such reports), and (2) has been subject to such filing
 
requirements for the past 90 days.
Yes
 
 
No
 
Indicate by check mark whether the registrant has submitted
 
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation
 
S-T (§232.405 of this chapter) during the preceding 12 months
 
(or for such shorter period that the Registrant
was required to submit and post such files).
Yes
 
 
No
 
Indicate by check mark whether the registrant is an emerging growth
 
company as defined in Rule 12b-2 of the Exchange Act.
Emerging growth company
If an emerging growth company that prepares its financial statements
 
in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new
 
or revised financial accounting standards provided pursuant to Section
 
13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a
 
report on and attestation to its management’s assessment of the effectiveness of its internal control
 
over
financial reporting under Section 404(b) of the Sarbanes-Oxley
 
Act (15 U.S.C. 7262(b)) by the registered public accounting
 
firm that prepared or issued its audit report.
 
2
EXPLANATORY
 
NOTE
PyroGenesis
 
Canada Inc.
 
(the
 
“Company”
 
or
 
the
 
“Registrant”)
 
is
 
a
 
Canadian
 
issuer
 
that
 
is
 
permitted,
 
under
 
the
multijurisdictional disclosure system adopted in the
 
United States, to prepare this Annual Report
 
on Form 40-F pursuant to
Section 13
 
of
 
the
 
Securities
 
Exchange
 
Act
 
of
 
1934,
 
as
 
amended
 
(the
 
“Exchange
 
Act”),
 
in
 
accordance
 
with
 
Canadian
disclosure requirements. The Company is a “foreign private issuer” as defined in
 
Rule 3b-4 under the Exchange Act. Equity
securities
 
of
 
the
 
Company
 
are
 
accordingly
 
exempt
 
from
 
Sections
 
14(a),
 
14(b),
 
14(c),
 
14(f) and
 
16
 
of
 
the
 
Exchange
 
Act
pursuant to Rule 3a12-3.
FORWARD LOOKING
 
STATEMENTS
This
 
Annual
 
Report,
 
including
 
the
 
exhibits
 
attached
 
hereto
 
and
 
incorporated
 
herein
 
may
 
contain
 
“forward-looking
statements”
 
within
 
the
 
meaning
 
of
 
applicable
 
Canadian
 
and
 
United
 
States
 
securities
 
laws.
 
All
 
statements
 
other
 
than
statements of historical
 
fact are
 
forward-looking statements. The
 
forward-looking statements contained
 
in this
 
Annual Report
are made
 
only as
 
of the
 
date hereof.
 
The forward-looking
 
statements contained
 
in the
 
exhibits incorporated
 
by reference
into this Annual
 
Report are made
 
only as of
 
the respective dates
 
set forth in
 
such exhibits. The
 
Registrant does
 
not have,
or undertake,
 
any obligation
 
to update
 
or revise
 
any forward
 
-looking statements
 
whether as
 
a result
 
of new
 
information,
subsequent events or otherwise, unless otherwise required
 
by law.
Generally, forward-looking information can be
 
identified by the
 
use of forward-looking terminology
 
such as “plans”,
 
“expects”
or
 
“does
 
not
 
expect”,
 
“is
 
expected”,
 
“budget”,
 
“scheduled”,
 
“estimates”,
 
“forecasts”,
 
“intends”,
 
“anticipates”
 
or
 
“does
 
not
anticipate”, or “believes”,
 
or variations of
 
such words and
 
phrases or statements
 
that certain actions,
 
events or results
 
“may”,
“could”, “would”, “might” or “will be taken”, “occur”
 
or “be achieved”. Forward-looking statements are
 
based on a number of
material
 
assumptions,
 
which
 
management
 
of
 
the
 
Registrant
 
believe
 
to
 
be
 
reasonable,
 
including,
 
but
 
not
 
limited
 
to,
 
the
Registrant’s ability to generate sufficient
 
cash flow from operations and obtain financing,
 
if needed, on acceptable terms or
at
 
all;
 
the
 
general
 
economic,
 
financial
 
market,
 
regulatory
 
and
 
political
 
conditions
 
in
 
which
 
the
 
Registrant
 
operates;
 
the
interest of potential purchasers in
 
the Registrant’s products; anticipated and unanticipated costs; the government
 
regulation
of the Registrant’s activities and products; the timely receipt of any required regulatory
 
approvals; the Registrant’s ability to
obtain
 
qualified
 
staff,
 
equipment
 
and
 
services
 
in
 
a
 
timely
 
and
 
cost
 
efficient
 
manner;
 
the
 
Registrant’s
 
ability
 
to
 
conduct
operations in a safe,
 
efficient and effective
 
manner; and the Registrant’s
 
expansion plans and
 
timeframe for completion
 
of
such plans
Forward-looking
 
information
 
is subject
 
to
 
known
 
and
 
unknown
 
risks,
 
uncertainties
 
and
 
other
 
factors
 
that
 
may
 
cause
 
the
actual
 
results,
 
level
 
of
 
activity,
 
performance
 
or
 
achievements
 
of
 
the
 
Registrant
 
to
 
be
 
materially
 
different
 
from
 
those
expressed
 
or
 
implied
 
by
 
such
 
forward-looking
 
information.
 
Although
 
the
 
Registrant
 
has
 
attempted
 
to
 
identify
 
important
factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be
other factors that cause results not to be as
 
anticipated, estimated, intended or projected. There
 
is no assurance that such
statements will
 
prove to
 
be accurate,
 
as actual
 
results
 
and future
 
events could
 
differ materially
 
from those
 
anticipated
 
in
such
 
statements.
 
Accordingly,
 
readers
 
should
 
not
 
place
 
undue
 
reliance
 
on
 
forward-looking
 
statements.
 
Readers
 
should
carefully consider the maters as
 
further discussed under the heading "Risk
 
Factors" in the Registrant’s Annual
 
Information
Form for the year ended December 31, 2020, which is
 
filed as Exhibit 99.1 hereto and incorporated by reference
 
herein
The forward-looking statements
 
contained in, or incorporated
 
by reference into, this
 
Form 40-F are made as
 
of the date of
this Form
 
40-F or
 
as
 
otherwise
 
specified.
 
Except as
 
required
 
by
 
applicable
 
securities
 
law,
 
the
 
Registrant
 
undertakes
 
no
obligation
 
to
 
update
 
publicly
 
or otherwise
 
revise
 
any forward
 
-looking
 
statements
 
or the
 
foregoing
 
list
 
of
 
factors
 
affecting
those statements, whether as
 
a result of
 
new information, future events
 
or otherwise or
 
the foregoing lists of
 
factors affecting
this information. All
 
forward-looking statements
 
contained in this
 
Form 40-F are
 
expressly qualified
 
in their entirety
 
by this
cautionary statement.
DIFFERENCES IN UNITED STATES
 
AND CANADIAN REPORTING PRACTICES
The
 
Registrant
 
is
 
permitted,
 
under
 
a
 
multijurisdictional
 
disclosure
 
system
 
adopted
 
by
 
the
 
United
 
States,
 
to
 
prepare
 
this
report
 
in
 
accordance
 
with
 
Canadian
 
disclosure
 
requirements,
 
which
 
are
 
different
 
from
 
those
 
of
 
the
 
United
 
States.
 
The
Registrant prepares its
 
financial statements, which
 
are filed with
 
this Form 40-F in
 
accordance with International
 
Financial
Reporting Standards as issued by the International Accounting
 
Standards Board.
 
3
PRINCIPAL DOCUMENTS
Annual Information Form
The
 
Registrant’s
 
Annual
 
Information
 
Form for
 
the
 
fiscal year
 
ended
 
December 31,
 
2022
 
is
 
filed
 
as
 
Exhibit 99.1
 
and
incorporated by reference in this Annual Report on Form 40-
F.
Audited Annual Financial Statements
The audited consolidated financial statements of the Registrant for the fiscal year
 
ended December 31, 2022, including the
Independent Auditor’s
 
Report with
 
respect thereto,
 
are filed
 
as Exhibit 99.3
 
and incorporated
 
by reference
 
in this
 
Annual
Report on Form 40-
F.
Management Discussion and Analysis
The Registrant’s Management Discussion and Analysis for the fiscal year ended
 
December 31, 2022 is filed as Exhibit 99.2
and incorporated by reference in this Annual Report
 
on Form 40-
F.
CERTIFICATIONS AND
 
DISCLOSURES REGARDING CONTOLS AND
 
PROCEDURES
Certifications
The required certifications are attached hereto as Exhibits
 
99.4, 99.5, 99.6, and 99.7.
Disclosure Controls and Procedures
The information provided in the section entitled “Controls and Procedures” under the sub-heading “Disclosure Controls and
Procedures”
 
contained
 
in
 
the
 
2022
 
MD&A
 
filed
 
as
 
Exhibit 99.2
 
to
 
this
 
Annual
 
Report
 
on
 
Form 40-F is
 
incorporated
 
by
reference herein.
Management’s Annual Report on Internal Control
 
over Financial Reporting
The information provided in the section entitled “Controls and Procedures” under the sub-headings “Management’s
 
Annual
Report
 
on
 
Internal
 
Controls
 
over
 
Financial
 
Reporting
 
and
 
Remediation
 
Plan”
 
contained
 
in
 
the
 
2022
 
MD&A
 
filed
 
as
Exhibit 99.2 to this Annual Report on Form 40-F is incorporated
 
by reference herein.
Attestation Report of Independent Auditor
In accordance
 
with the
 
United States
 
Jumpstart Our
 
Business Startup
 
Act (the
 
“JOBS Act”)
 
enacted on
 
April 5, 2012,
 
the
Registrant qualifies as
 
an “emerging growth
 
company” (an “EGC”),
 
which entitles the
 
Registrant to take
 
advantage of certain
exemptions
 
from
 
various
 
reporting
 
requirements
 
that
 
are
 
applicable
 
to
 
other
 
public
 
companies
 
that
 
are
 
not
 
EGCs.
Specifically,
 
the JOBS
 
Act defers
 
the
 
requirement
 
to
 
have
 
the
 
Registrant’s
 
independent
 
auditor
 
assess
 
the
 
Registrant’s
internal
 
control
 
over
 
financial
 
reporting
 
under
 
Section 404(b) of
 
the
 
Sarbanes-Oxley
 
Act.
 
As
 
such,
 
the
 
Registrant
 
is
exempted
 
from
 
the
 
requirement
 
to
 
include
 
an
 
auditor
 
attestation
 
report
 
in
 
this
 
Form 40-F
 
for
 
so
 
long
 
as
 
the
 
Registrant
remains an EGC, which may be for as long as five years
 
following its initial registration in the United States.
Changes in Internal Control over Financial Reporting
The
 
information
 
provided
 
in
 
the
 
section
 
entitled
 
“Controls
 
and
 
Procedures”
 
under
 
the
 
sub-heading
 
“Changes
 
in
 
Internal
Controls over Financial Reporting” contained in the 2022 MD&A filed as Exhibit 99.2 to this
 
Annual Report on Form 40-F is
incorporated by reference herein.
NOTICES PURSUANT TO REGULATION
 
BTR
The Registrant
 
was
 
not required
 
by Rule
 
104 of Regulation
 
BTR to
 
send
 
any notices
 
to
 
any
 
of its
 
directors
 
or executive
officers during the fiscal year ended December
 
31, 2022.
AUDIT COMMITTEE FINANCIAL EXPERT
The
 
board
 
of
 
directors
 
of
 
the
 
Registrant
 
has
 
determined
 
that
 
Mr. Andrew
 
Abdalla,
 
the
 
chair
 
of
 
the
 
Registrant’s
 
audit
committee,
 
qualifies
 
as
 
an
 
audit
 
committee
 
financial
 
expert
 
for
 
purposes
 
of
 
paragraph
 
(8) of
 
General
 
Instruction
 
B
 
to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4
Form 40-F.
 
The board
 
of directors
 
has further
 
determined that
 
Mr. Abdalla
 
is also
 
independent, as
 
that term
 
is defined
 
in
the corporate governance
 
requirements of the
 
Nasdaq Capital Market
 
(“Nasdaq”). The Commission
 
has indicated that the
designation of Mr.
 
Abdalla as an audit
 
committee financial expert
 
does not make
 
him an "expert"
 
for any purpose,
 
impose
any duties, obligations or liabilities on him that are greater than those imposed on
 
members of the audit committee and the
board of directors who do not carry this designation or affect
 
the duties, obligations or liabilities of any other member of
 
the
audit committee or the board of directors.
CODE OF ETHICS
The Registrant has adopted a
 
written Code of Business Conduct
 
and Ethics (the "Code")
 
that is applicable to
 
all employees,
contractors,
 
consultants,
 
officers
 
and
 
directors
 
of
 
the
 
Registrant,
 
and
 
is
 
filed
 
as
 
an
 
exhibit
 
to
 
this
 
Annual
 
Report
 
on
Form 40-
F.
All departures
 
from,
 
all
 
amendments
 
to
 
the Code,
 
and
 
all waivers
 
of the
 
Code
 
with respect
 
to any
 
of the
 
senior officers
covered by it,
 
which waiver may
 
be made only
 
by the board
 
of directors of
 
the Registrant in
 
respect of senior
 
officers, will
be disclosed as required. The Code is located on the Registrant’s website at www.pyrogenesis.com.
 
Information contained
in or
 
otherwise accessible
 
through the
 
Registrant’s website
 
does not
 
form part
 
of this
 
Form 40-F,
 
and is
 
not incorporated
into this Form 40-F by reference.
PRINCIPAL ACCOUNTANT
 
FEES AND SERVICES
The
 
fees
 
paid
 
to
 
the
 
independent
 
auditor
 
are
 
included
 
under
 
the
 
heading
 
"Audit
 
Committee -
 
External
 
Fees
 
by
 
Audit
Category" in the AIF,
 
which is filed as Exhibit 99.1 hereto and incorporated
 
by reference herein.
The Registrant’s audit committee
 
has adopted a pre-approval
 
policy.
 
Under this policy,
 
all non-audit services must
 
be pre-
approved
 
by
 
the
 
Audit
 
Committee.
 
The
 
Registrant
 
did
 
not
 
rely
 
on
 
the
 
de
 
minimis
 
exemption
 
provided
 
by
Section (c)(7) (i)(C) of Rule 2-01 of Regulation S-X.
OFF-BALANCE SHEET ARRANGEMENTS
The Registrant
 
has
 
not
 
entered
 
into any
 
“off-balance
 
sheet arrangements”,
 
that
 
have or
 
are reasonably
 
likely
 
to
 
have
 
a
current or
 
future effect
 
on the Registrant’s
 
financial condition,
 
changes in
 
financial condition,
 
revenues, expenses,
 
results
of operations, liquidity,
 
capital expenditures or capital resources that are
 
material to investors.
CONTRACTUAL OBLIGATIONS
Below is a tabular disclosure of the Registrant’s
 
contractual obligations at December 31, 2022:
Total
Carrying
contractual
Less than
 
Over 5
value
amount
one year
2-3 years
4-5 years
 
years
$
$
$
$
$
$
Bank indebtedness
991,902
991,902
991,902
Accounts payable and
accrued liabilities
9,620,591
9,620,591
9,620,591
Term
 
loans
389,987
520,444
59,917
190,587
180,000
89,940
Balance due on
business combination
3,907,775
4,137,820
2,177,800
1,960,020
Lease liabilities
5,533,694
6,745,329
2,984,243
1,165,281
703,816
1,891,989
20,443,949
22,016,086
15,834,453
3,315,888
883,816
1,981,929
IDENTIFICATION OF
 
THE AUDIT COMMITTEE
The Registrant’s Board of Directors has a separately
 
designated standing Audit Committee established in accordance
 
with
Section 3(a)(58)(A) of
 
the
 
Exchange
 
Act.
 
The
 
members
 
of
 
the
 
Audit
 
Committee
 
are
 
Andrew
 
Abdalla
 
(Chair
 
of
 
the
Committee), Robert Radin and Ben Naccarato.
 
5
MINE SAFETY DISCLOSURE
Not applicable
NASDAQ STATEMENT
 
OF CORPORATE
 
GOVERNANCE DIFFERENCES
The Registrant is
 
a “foreign private
 
issuer” as defined
 
in Rule 3b-4
 
under Exchange Act
 
and its common
 
shares are listed
on Nasdaq
 
and the
 
Toronto
 
Stock Exchange
 
(the “TSX”).
 
Rule 5615(a)(3)
 
of Nasdaq
 
Stock Market
 
Rules permits
 
foreign
private issuers to follow
 
home country practices in
 
lieu of certain provisions of
 
Nasdaq Stock Market Rules. A
 
foreign private
issuer that follows home country practices in lieu of certain provisions of Nasdaq Stock
 
Market Rules must disclose ways in
which its corporate
 
governance practices
 
differ from
 
those followed
 
by domestic
 
companies either
 
on its website
 
or in the
annual report
 
that
 
it distributes
 
to shareholders
 
in the
 
United States.
 
A description
 
of the
 
ways in
 
which
 
the Registrant’s
governance practices
 
differ
 
from those
 
followed
 
by domestic
 
companies
 
pursuant
 
to Nasdaq
 
Stock
 
Market Rules
 
are as
follows:
Majority Independent
 
Directors
: The
 
Registrant
 
does not
 
follow Nasdaq
 
Stock
 
Market Rule
 
5605(b)(1),
 
which requires
listed companies
 
to have
 
a majority
 
of the
 
board of
 
directors comprised
 
of “Independent
 
Directors” as
 
defined in
 
Nasdaq
Stock Market Rule 5605(a)(2). In lieu of following Nasdaq Stock Market Rule 5605(b)(1),
 
the Registrant follows the rules of
the TSX.
Executive
 
Sessions
:
 
The
 
Registrant
 
does
 
not
 
follow
 
Nasdaq
 
Stock
 
Market
 
Rule
 
5605(b)(2),
 
which
 
requires
 
listed
companies
 
to
 
have
 
their
 
Independent
 
Directors
 
regularly
 
schedule
 
meetings
 
at
 
which
 
only
 
Independent
 
Directors
 
are
present. In lieu of following Nasdaq Stock Market Rule 5605(b)(2),
 
the Registrant follows the rules of the TSX.
Audit
 
Committee
 
Charter
: The
 
Registrant
 
does
 
not
 
follow
 
Nasdaq
 
Stock
 
Market
 
Rule 5605(c)(1),
 
which requires
 
listed
companies to adopt
 
a formal written
 
audit committee charter
 
that specifies the
 
scope of its
 
responsibilities and the
 
means
by
 
which
 
it
 
carries
 
out
 
those
 
responsibilities;
 
the
 
outside
 
auditor's
 
accountability
 
to
 
the
 
audit
 
committee;
 
and
 
the
 
audit
committee's responsibility to ensure the independence of the outside auditor. In lieu of following Nasdaq Stock Market Rule
5605(c)(1), the Registrant follows the rules of the TSX.
Compensation Committee Charter
: The Registrant does not follow
 
Nasdaq Stock Market Rule 5605(d)(1), which requires
listed companies
 
to adopt
 
a formal
 
written compensation
 
committee charter
 
and have
 
a compensation
 
committee review
and reassess
 
the adequacy
 
of the
 
charter on
 
an annual
 
basis. In
 
lieu of
 
following Nasdaq
 
Stock Market
 
Rule 5605(d)(1),
the Registrant follows the rules of the TSX.
Composition of Compensation Committee
: The Registrant does not follow Rule Nasdaq Stock Market 5605(d)(2), which
requires listed companies to have a compensation committee comprised of at least two
 
members, with each member being
an Independent Director as defined under
 
Nasdaq Stock Market Rule 5605(a)(2).
 
In lieu of following Nasdaq Stock Market
Rule 5605(d)(2), the Registrant follows the rules of the
 
TSX.
Independent
 
Director Oversight
 
of Director
 
Nominations
: The
 
Registrant does
 
not follow
 
Nasdaq Stock
 
Market Rule
5605(e)(1), which requires Independent Director involvement
 
in the selection of
 
director nominees, by having a
 
nominations
committee
 
comprised
 
solely
 
of
 
Independent
 
Directors.
 
In
 
lieu
 
of
 
following
 
Nasdaq
 
Stock
 
Market
 
Rule
 
5605(e)(1),
 
the
Registrant follows the rules of the TSX.
Nominations Committee
 
Charter
: The Registrant
 
does not follow
 
Nasdaq Stock
 
Market Rule 5605(e)(2),
 
which requires
listed companies to adopt a
 
formal written nominations committee charter or
 
board resolution, as applicable, addressing the
director
 
nomination
 
process
 
and
 
such
 
related
 
matters
 
as
 
may
 
be
 
required
 
under
 
the
 
federal
 
securities
 
laws.
 
In
 
lieu
 
of
following Nasdaq Stock Market Rule 5605(e)(2), the Registrant
 
follows the rules of the TSX.
Shareholder Meeting Quorum
 
Requirements
: The Registrant does
 
not follow Nasdaq Stock
 
Market Rule 5620(c) which
requires
 
that
 
the
 
minimum
 
quorum
 
requirement
 
for
 
a
 
meeting
 
of
 
shareholders
 
be
 
33
 
1/3
 
%
 
of
 
the
 
outstanding
 
common
shares. In
 
addition, Nasdaq Stock
 
Market Rule
 
5620(c) requires
 
that an
 
issuer listed on
 
Nasdaq state
 
its quorum
 
requirement
in its by-laws.
 
In lieu of following Nasdaq Stock Market Rule 5620(c), the
 
Registrant follows the rules of the TSX.
The foregoing is consistent with applicable laws, customs
 
and practices in Canada.
UNDERTAKING
The Registrant
 
undertakes to make
 
available, in
 
person or by
 
telephone, representatives
 
to respond
 
to inquiries
 
made by
the Commission
 
staff, and
 
to furnish
 
promptly,
 
when requested
 
to do
 
so by
 
the Commission
 
staff, information
 
relating to:
 
 
 
 
6
the securities registered pursuant to Form 40-F; the securities in relation to which the obligation to file an Annual Report on
Form 40-F arises; or transactions in said securities.
DISCLOSURE REGARDING FOREIGN JURISDICTION
 
THAT PREVENT
 
INSPECTIONS
Not applicable.
CONSENT TO SERVICE OF PROCESS
The Registrant has previously filed with the Commission
 
a written irrevocable consent and power
 
of attorney on Form F-X.
Any change
 
to the name
 
or address of
 
the Registrant’s agent
 
for service shall
 
be communicated promptly
 
to the Commission
by amendment to the Form F-X referencing the file
 
number of the Registrant.
The following documents are being filed with the Commission
 
as exhibits to this Form 40-
F.
EXHIBIT INDEX
Exhibit Number
 
Exhibit Description
99.1
99.2
99.3
99.4
99.5
99.6
99.7
99.8
99.9
101
Interactive Data File
SIGNATURES
Pursuant to the requirements
 
of the Exchange Act, the
 
Registrant certifies that it
 
meets all of the requirements
 
for filing on
Form 40-F and has
 
duly caused this
 
Annual Report to
 
be signed on
 
its behalf by
 
the undersigned, thereunto duly
 
authorized.
Date: March 31, 2023
PYROGENESIS CANADA INC.
 
 
 
 
By:
/s/ P.
 
Peter Pascali
 
 
P.
 
Peter Pascali
 
 
Chief Executive Officer
pyrex99d1
 
pyrex99d1p1i0
Exhibit 99.1
PYROGENESIS CANADA INC.
ANNUAL INFORMATION FORM
FOR THE YEAR ENDED DECEMBER 31, 2022
Dated March 30, 2023
 
 
 
 
 
 
 
 
 
3
TABLE OF CONTENTS
5
5
6
6
6
7
7
Year Ended December 31, 2020
7
5.2.
Year Ended December 31, 2021
9
Year Ended December 31, 2022
10
11
12
12
12
16
16
16
20
20
21
21
21
23
23
23
23
8.
Description of Capital Structure
24
24
24
24
24
25
25
25
28
30
31
32
32
32
32
33
33
33
33
33
34
34
34
43
45
47
 
5
1.
 
Explanatory Notes
The
 
information
 
in
 
this
 
annual
 
information
 
form
 
(this
 
AIF
”)
 
of
 
PyroGenesis
 
is
 
stated
 
as
 
at
 
December
 
31,
 
2022,
unless otherwise indicated.
For an explanation
 
of the capitalized
 
terms and expressions and
 
certain defined terms, please
 
refer to the
 
“Glossary
of Terms”
 
at the end of this AIF.
In
 
this
 
AIF,
 
unless
 
the
 
context
 
otherwise
 
requires,
 
references
 
to
 
the
 
“Company”
 
or
 
“PyroGenesis”
 
refer
 
to
PyroGenesis Canada Inc. together with its subsidiaries.
In this AIF,
 
unless otherwise indicated,
 
all references to
 
“$” are to Canadian
 
dollars, all references to
 
“US$” are to
U.S. dollars, and all references to “€” are to euros. Amounts
 
are stated in Canadian dollars unless otherwise indicated.
This
 
AIF
 
should
 
be
 
read
 
in
 
conjunction
 
with
 
the
 
information
 
contained
 
in
 
the
 
Company’s
 
consolidated
 
financial
statements
 
and
 
related
 
notes
 
for
 
the
 
year
 
ended
 
December
 
31,
 
2022,
 
and
 
the
 
management’s
 
discussion
 
and
 
analysis
thereon.
The Company has certain proprietary or
 
contractual rights to certain company names, product
 
names, trade names
and
 
trademarks
 
used
 
in
 
this
 
AIF
 
that
 
are
 
important
 
to
 
its
 
business,
 
including
 
PyroGenesis,
 
PYROGENESIS
 
(LOGO),
PYROGENESIS
 
ADDITIVE,
 
PYROGENESIS
 
ADDITIVE
 
(LOGO)
 
PYROGENESIS
 
ALUMINUM,
 
PYRO
 
GREEN-GAS,
PYRO
 
GREEN-GAS
 
(LOGO),
 
SPHEROGENESIS,
 
NEXGEN,
 
DROSRITE,
 
PUREVAP,
 
SPARC,
 
APT,
 
APT-HP,
 
RPT,
MINIGUN, SPT,
 
PPRS and,
 
PAGV.
 
The Company
 
has omitted
 
the registered
 
trademark (®)
 
and trademark
 
(™) symbols
and any other related symbols
 
for such trademarks and
 
all related trademarks, including
 
those related to specific
 
products
or services, when used in this AIF.
2.
 
Forward-Looking Statements
This
 
AIF
 
contains
 
forward-looking
 
statements
 
and
 
forward-looking
 
information
 
(collectively,
 
forward-looking
statements
”) within the meaning
 
of applicable securities
 
legislation. All statements
 
other than statements of
 
historical fact
contained in this AIF
 
are forward-looking statements,
 
including, without limitation,
 
the Company’s statements
 
regarding its
products and services; the execution of its growth strategy; relations with suppliers and
 
customers; future financial position;
business strategy; potential acquisitions; potential
 
business partnering; litigation; and plans
 
and objectives. In certain
 
cases,
forward-looking
 
statements
 
can
 
be
 
identified
 
by
 
the
 
use
 
of
 
words
 
such
 
as
 
“plans”,
 
“expects”
 
or
 
“does
 
not
 
expect”,
 
“is
expected”, “budget”, “scheduled”,
 
“estimates”, “forecasts”, “intends”,
 
“anticipates” or “does
 
not anticipate”, or
 
“believes”, or
variations of such words and phrases
 
or state that certain actions,
 
events or results “may”, “could”,
 
“would”, “might” or “will
be taken”, “occur” or “be achieved” and similar words or the negative
 
thereof. These forward-looking statements are based
on
 
management’s
 
current
 
expectations
 
and
 
are
 
subject
 
to
 
a
 
number
 
of
 
risks,
 
uncertainties,
 
and
 
assumptions,
 
including
market
 
and
 
economic
 
conditions,
 
business
 
prospects
 
or
 
opportunities,
 
future
 
plans
 
and
 
strategies,
 
projections
 
and
anticipated events
 
and trends
 
that affect
 
the Company
 
and its
 
industry.
 
Although management
 
of the
 
Company believes
that
 
the
 
expectations
 
reflected
 
in
 
such
 
forward-looking
 
statements
 
are
 
reasonable
 
and
 
are
 
based
 
on
 
reasonable
assumptions
 
and
 
estimates
 
as
 
of
 
the
 
date
 
hereof,
 
there
 
can
 
be
 
no
 
assurance
 
that
 
these
 
assumptions
 
or
 
estimates
 
are
accurate or that any of these expectations will prove accurate.
Actual
 
results
 
and
 
developments
 
are
 
likely
 
to
 
differ,
 
and
 
may
 
differ
 
materially,
 
from
 
those
 
anticipated
 
by
 
the
Company and expressed or implied by
 
the forward-looking statements contained in this AIF. Such statements are based on
a number of assumptions and risks which may prove to be incorrect.
 
Important assumptions relating to the forward-looking
statements contained in this AIF include, among other things,
 
assumptions concerning:
 
the Company’s business strategies, strategic objectives
 
and growth strategy;
 
the Company’s expected production volumes, rates
 
and costs;
 
the Company’s current and future capital resources
 
and the need for additional financing;
 
the Company’s ability to increase sales from new and existing customers, and the results of the successful
completion of the Company’s current projects;
 
management’s expectation that the Company will achieve
 
growth and profitability;
 
6
 
the Company’s overall financial performance;
 
the Company continuing to maintain sufficient
 
and effective production and research and development;
 
there being no significant reduction in the availability of
 
qualified and cost-effective human resources;
 
there will be adequate liquidity available to the Company
 
to carry out its operations;
 
the Company’s ability to obtain and retain key
 
personnel; and
 
the success of intellectual property applications.
By their nature, forward-looking statements require assumptions and are subject to inherent risks and
 
uncertainties
including
 
those
 
discussed
 
herein.
 
There
 
is
 
significant
 
risk
 
that
 
predictions
 
and
 
other
 
forward-looking
 
statements
 
will
 
not
prove
 
to
 
be
 
accurate.
 
Readers
 
are
 
cautioned
 
to
 
not
 
place
 
undue
 
reliance
 
on
 
forward-looking
 
statements
 
made
 
herein
because a
 
number
 
of factors
 
could cause
 
actual future
 
results, conditions,
 
actions
 
or events
 
to differ
 
materially from
 
the
targets, expectations, estimates or intentions expressed in the
 
forward-looking statements.
The future
 
outcomes that
 
relate to
 
forward-looking statements
 
may be
 
influenced by
 
many factors,
 
including, but
not limited to, the risk
 
factors described under
 
the heading “Risk Factors”.
 
The Company cautions that
 
the foregoing list of
factors
 
is
 
not
 
exhaustive,
 
and
 
that,
 
when
 
relying
 
on
 
forward-looking
 
statements
 
to
 
make
 
decisions
 
with
 
respect
 
to
 
the
Company, investors
 
and others should carefully consider these factors, as well as other uncertainties and potential events,
and the inherent uncertainty of forward-looking statements.
Although the forward-looking statements
 
contained in this AIF
 
are based upon
 
what management currently believes
to be reasonable assumptions, the Company cannot assure investors that actual results, performance or achievements will
be
 
consistent
 
with
 
these
 
forward-looking
 
statements
 
and
 
additional
 
risks
 
and
 
uncertainties
 
discussed
 
in
 
the
 
Company’s
materials filed with the
 
Canadian securities regulatory
 
authorities from time
 
to time, available
 
under the Company’s
 
profile
on SEDAR at
 
www.sedar.com and on EDGAR at www.sec.gov. There can be no
 
assurance that forward-looking statements
will prove
 
to be
 
accurate, as actual
 
results and
 
future events
 
could differ materially
 
from those
 
anticipated in
 
such statements.
Accordingly,
 
readers
 
should
 
not
 
place
 
undue
 
reliance
 
on
 
forward-looking
 
statements.
 
Forward-looking
 
statements
 
are
provided
 
as
 
of
 
the
 
date
 
of
 
this
 
AIF,
 
and
 
the
 
Company
 
assumes
 
no
 
obligation
 
to
 
update
 
or
 
revise
 
such
 
forward-looking
statements to reflect new events or circumstances except as
 
required under applicable securities laws.
The
 
forward-looking
 
statements
 
contained
 
in
 
this
 
AIF
 
are
 
expressly
 
qualified
 
in
 
their
 
entirety
 
by
 
this
 
cautionary
statement and are made as of the date of this AIF or such
 
other date specified herein.
3.
 
Market and industry data
Unless otherwise indicated, information contained in
 
this AIF concerning the industry and the
 
markets in which the
Company operates, including
 
its general expectations, market
 
position and market
 
opportunity, is based on information
 
from
industry publications and
 
reports generated by
 
several third parties
 
and management estimates.
 
Unless otherwise indicated,
management estimates are derived from
 
publicly available information released by independent industry
 
analysts and third-
party sources, as well
 
as data from the
 
Company’s internal research, and are
 
based on assumptions made by
 
the Company
based on such data and its knowledge of
 
such industry and markets, which the Company believes to be
 
reasonable. These
industry
 
publications
 
and
 
reports
 
generally
 
indicate
 
that
 
the
 
information
 
contained
 
therein
 
was
 
obtained
 
from
 
sources
believed to
 
be reliable,
 
but do
 
not guarantee
 
the accuracy
 
and completeness
 
of such
 
information. The
 
Company has
 
not
independently verified the
 
data in such
 
publications, reports
 
or resources, and
 
such information is
 
inherently imprecise. In
addition, projections,
 
assumptions and estimates
 
of the Company’s
 
future performance
 
and the future
 
performance of the
industry in which the Company operates are necessarily subject
 
to a high degree of uncertainty and risk due to a variety of
factors, including those described under “Forward-Looking
 
Statements” and “Risk Factors”.
4.
 
Corporate Structure
4.1.
 
Name, Address and Incorporation
PyroGenesis is a corporation
 
governed by the provisions
 
of the Canada Business
 
Corporations Act (“
CBCA
”) and
results from an amalgamation
 
completed on July 11,
 
2011,
 
under the CBCA, of Industrial
 
Growth Income Corporation
 
and
PyroGenesis
 
Canada
 
Inc.,
 
a
 
predecessor
 
entity
 
incorporated
 
on
 
June
 
5,
 
2006,
 
to
 
form
 
the
 
Company.
 
Prior
 
to
 
the
 
7
amalgamation,
 
which
 
constituted
 
its
 
qualifying
 
transaction,
 
Industrial
 
Growth
 
Income
 
Corporation
 
was
 
a
 
capital
 
pool
company listed on the TSX-
V.
The Company’s head and registered
 
office is located at 1744
 
William Street, Suite 200,
 
Montréal, Québec, Canada,
H3J 1R4.
4.2.
 
Subsidiaries
On
 
August
 
11,
 
2021,
 
PyroGenesis
 
acquired
 
all
 
of
 
the
 
issued
 
and
 
outstanding
 
shares
 
of
 
Pyro
 
Green-Gas
 
Inc.
(formerly AirScience Technologies
 
Inc.) (“
Pyro Green-Gas
”), a private corporation incorporated under the laws of Canada.
Pyro Green-Gas has three subsidiaries: 1) AirScience
 
Technologies
 
Pvt. Ltd., a private corporation incorporated under the
laws of India;
 
2) AirScience Italia
 
S.r.l., a
 
private corporation incorporated
 
under the laws of
 
Italy; and 3)
 
Alga-Labs Inc., a
private corporation
 
incorporated under
 
the laws
 
of Canada.
 
Pyro Green-Gas
 
owns 99.99%
 
of the
 
issued and
 
outstanding
shares of
 
AirScience
 
Technologies
 
Pvt. Ltd.
 
and
 
90.00%
 
of the
 
issued
 
and outstanding
 
shares
 
of AirScience
 
Italia
 
S.r.l.
Alga-Labs Inc. is a wholly owned subsidiary of Pyro Green-Gas.
5.
 
General Development of the Business
The following is a summary of the significant events
 
that have influenced the general development
 
of the business
of the Company over the last three completed years.
5.1.
 
Year Ended December 31,
 
2020
Business Highlights and Milestones
On
 
March
 
4,
 
2020,
 
the
 
Company
 
announced
 
the
 
successful
 
completion
 
testing
 
of
 
a
 
900
 
kilowatts
 
plasma
 
torch
system valued
 
at more
 
than
 
$1,000,000
 
which had
 
been installed
 
pursuant
 
to an
 
agreement
 
entered
 
into
 
on January
 
7,
2019, between the Company and RISE Energy Technology
 
Center AB, a Swedish company.
On March 24,
 
2020, the Company announced it
 
had received the first
 
payment of approximately $1.44
 
million under
the
 
Drosrite
 
International
 
Exclusive
 
Agreement
 
dated
 
August
 
29,
 
2019,
 
between
 
Drosrite
 
International
 
LLC
 
(“
Drosrite
International
”), a US-based company,
 
and PyroGenesis (the “
Drosrite International Exclusive
 
Agreement
”). Under the
terms
 
of
 
this
 
agreement,
 
Drosrite
 
International
 
had
 
received
 
the
 
required
 
rights
 
from
 
PyroGenesis
 
to
 
perform
 
Drosrite
International’s obligations under a 2019 agreement it had entered into with
 
Radian Oil & Gas Services Company, an oil and
gas services company
 
operating in the
 
Middle East (the
 
Dross Processing Service
 
Agreement
”). For more
 
information
on the Drosrite
 
International Exclusive Agreement, the
 
Dross Processing Services Agreement,
 
and the relationship
 
between
Drosrite International and PyroGenesis, see “Directors
 
and Executive Officers - Conflicts of Interest”.
 
On April 30, 2020, PyroGenesis announced it
 
had successfully completed the first phase of
 
a multi-phase modeling
contract with a
 
client that
 
aimed at
 
evaluating the
 
performance of
 
PyroGenesis’ proprietary
 
torches in an
 
existing iron
 
ore
industrial furnace. On
 
September 1,
 
2020, the
 
Company announced the
 
completion and acceptance
 
of its
 
modeling contract,
which demonstrated that replacing fossil fuel burners with PyroGenesis’ proprietary
 
plasma torches could play a significant
role
 
in
 
reducing
 
the
 
client’s
 
greenhouse
 
gas
 
(“
GHG
”)
 
emissions
 
and
 
assist
 
the
 
client
 
in
 
attaining
 
its
 
GHG
 
reduction
objectives.
On June 11, 2020, the Company
 
announced it had signed a second multi-phase torch modeling contract, aimed
 
at
evaluating the
 
performance of
 
PyroGenesis’ proprietary
 
torches in
 
an existing
 
iron ore
 
industrial furnace
 
with the
 
goal of
replacing existing fossil fuel burners with PyroGenesis’ plasma
 
torches.
On August 18, 2020, the Company announced the realization of a development agreement with HPQ Nano Silicon
Powders Inc.
 
(“
HPQ Nano
”), a
 
wholly owned
 
subsidiary of
 
HPQ Silicon
 
Resources Inc.
 
(“
HPQ
”), which
 
aims to
 
transform
silicon
 
into
 
spherical
 
silicon
 
nano
 
powders
 
and
 
nanowires
 
for
 
use
 
in
 
lithium-ion
 
batteries.
 
The
 
agreement,
 
valued
 
at
approximately
 
$3,000,000,
 
includes
 
royalty
 
rights
 
on
 
the
 
future
 
sales
 
of
 
nano
 
silicon
 
powders
 
and
 
wires
 
by
 
HPQ
 
Nano,
royalty rights that can be converted by PyroGenesis into
 
a 50% ownership stake in HPQ Nano.
On September
 
4, 2020,
 
the Company
 
announced an
 
$11.5
 
million contract
 
to provide
 
waste destruction
 
systems
for two US Navy ships.
 
8
On
 
September
 
22,
 
2020,
 
the
 
Company
 
announced
 
a
 
business
 
initiative
 
to
 
increases
 
its
 
presence
 
as
 
an
 
on-site
processor of aluminum dross, with the aim to reduce landfill waste, reduce harmful GHG emissions, and recover aluminum
while minimizing the creations of potentially toxic minerals.
On November
 
24, 2020,
 
the Company
 
announced it
 
had signed
 
a plasma
 
torch contract
 
to provide
 
one high
 
powered
(approximately one
 
megawatt) plasma
 
torch with
 
ancillary equipment
 
to a
 
major iron
 
ore producer
 
in connection
 
with the
pelletization process.
On December 16,
 
2020, the Company
 
announced it had
 
signed an addition
 
al contract with
 
a US-based
 
tunneling
client to design, manufacture, test, and supply a plasma torch system
 
tailored for tunneling.
Corporate Developments and Financings
On March
 
18, 2020,
 
the Company
 
completed a
 
$903,000 non-brokered
 
secured convertible
 
loan with
 
Fiducie de
Crédit Mellon Trust (the “
Pascali Trust
”), a trust of which Company’s Chief Executive Officer, P.
 
Peter Pascali, is a trustee,
officer
 
and
 
beneficiary
 
(the
 
2020 Convertible
 
Loan
”).
 
The
 
2020
 
Convertible
 
Loan
 
bore
 
interest
 
at
 
the
 
rate
 
of
 
12%
 
per
annum, with interest
 
payable in cash
 
on a quarterly
 
basis, had a
 
September 17, 2021,
 
maturity date,
 
and was convertible
into common
 
shares of
 
the Company
 
at a
 
conversion price
 
of $0.28
 
per common
 
share. The
 
2020 Convertible
 
Loan was
secured
 
by
 
a
 
hypothec
 
on
 
the
 
universality
 
of
 
all
 
of
 
the
 
present
 
and
 
after
 
acquired
 
moveable
 
property
 
and
 
assets
 
of
 
the
Company.
 
The
 
2020
 
Convertible
 
Loan
 
was
 
subsequently
 
converted
 
in
 
common
 
shares
 
in
 
accordance
 
with
 
its
 
terms
 
on
September 30, 2020, resulting
 
in 3,225,000 common shares
 
being issued. As the
 
2020 Convertible Loan was
 
provided by
the Pascali Trust,
 
the 2020 Convertible Loan
 
constituted a “related party
 
transaction” as defined in
 
MI 61 101. The
 
related
party transaction was exempt from
 
the formal valuation and minority
 
approval requirements of MI 61-101,
 
as the transaction
had
 
a
 
value
 
of
 
less
 
than
 
25%
 
of
 
the
 
Company’s
 
market
 
capitalization
 
(calculated
 
in
 
accordance
 
with
 
MI
 
61-101).
 
The
transaction was unanimously
 
approved by the
 
board of directors
 
of the Company.
 
See “Directors and
 
Executive Officers -
Conflicts of Interest”.
On July 28,
 
2020, the Company
 
requested that
 
the Pascali Trust
 
convert the
 
2020 Convertible
 
Loan on or
 
before
September 30, 2020.
 
The Pascali Trust
 
agreed to such
 
request subject to
 
the prepayment of
 
5 years rent,
 
plus estimated
yearly municipal taxes, no
 
later than December 31,
 
2020, for a
 
total prepayment of $1,438,530.
 
As a result
 
of the conversion
of the 2020 Convertible Loan, the Company saved approximately $110,000 of interest payments that would otherwise have
been
 
required
 
to
 
be
 
paid
 
under
 
the
 
2020
 
Convertible
 
Loan.
 
The
 
agreement
 
with
 
the
 
Pascali
 
Trust
 
in
 
respect
 
of
 
the
prepayment
 
of
 
rent
 
constituted
 
a
 
“related
 
party
 
transaction”
 
as
 
defined
 
in
 
MI
 
61101.
 
The
 
related
 
party
 
transaction
 
was
exempt from the formal
 
valuation and minority
 
approval requirements of
 
MI 61-101, as
 
the transaction had
 
a value of less
than
 
25%
 
of
 
the
 
Company’s
 
market
 
capitalization
 
(calculated
 
in
 
accordance
 
with
 
MI
 
61-101).
 
The
 
transaction
 
was
unanimously
 
approved
 
by
 
the
 
board
 
of
 
directors
 
of
 
the
 
Company.
 
See
 
“Directors
 
and
 
Executive
 
Officers
 
-
 
Conflicts
 
of
Interest”.
On September 1,
 
2020, PyroGenesis announced that it
 
had acquired 4,000,000 units
 
of HPQ in
 
a private placement
at a
 
price of
 
$0.60 per
 
unit for
 
a total
 
investment $2.4
 
million. Each
 
unit consists
 
of one
 
common share
 
of HPQ
 
and one
common share of HPQ purchase warrant. Each warrant entitles the Company to purchase one common share of HPQ at a
price of $0.61 for a period of 36 months following the
 
issue date.
On September
 
22, 2020,
 
at the
 
Company’s
 
annual general
 
meeting, the
 
five then
 
current members
 
of the
 
Board
were
 
re-elected
 
and
 
two
 
additional
 
nominees,
 
Ms.
 
Rodayna
 
Kafal
 
and
 
Mr.
 
Rodney
 
Beveridge,
 
were
 
also
 
elected
 
to
 
the
Board.
On
 
November
 
10,
 
2020,
 
the
 
Company
 
closed
 
a
 
bought-deal
 
short
 
form
 
prospectus
 
offering
 
(the
 
2020
 
Public
Offering
”) pursuant to an underwriting agreement dated October 20, 2020, entered into between the
 
Company and Mackie
Research
 
Capital
 
Corporation,
 
as
 
sole
 
underwriter
 
and
 
sole
 
bookrunner.
 
Under
 
the
 
2020
 
Public
 
Offering,
 
the
 
Company
issued 3,354,550 units of the
 
Company (“
2020 Units
”) at a price of
 
$3.60 per unit for
 
aggregate proceeds of $12,076,380,
including the
 
full exercise
 
of the
 
over-allotment option
 
by the
 
underwriter.
 
Each unit
 
is comprised
 
of one
 
Common Share
and one-half of one Common Share
 
purchase warrant. Each whole warrant (a
 
2020 Public Offering Warrant
”) entitles the
holder thereof to purchase one additional Common Share at an exercise price of $4.50. The 2020 Public Offering Warrants
are governed by
 
a warrant indenture
 
dated November 10,
 
2020 (the “
2020 Warrant
 
Indenture
”). On March
 
15, 2021, the
Company announced
 
its exercise
 
of its
 
right under
 
the 2020
 
Warrant
 
Indenture to
 
accelerate the
 
expiry date
 
of the
 
2020
Public Offering
 
Warrants
 
to April
 
14, 2021.
 
The Company
 
paid the
 
underwriter
 
a
 
cash commission
 
equal to
 
6.5% of
 
the
gross proceeds of the 2020 Public
 
Offering and issued it an
 
aggregate of 191,414 non-transferable
 
compensation options,
which were
 
exercisable into
 
2020 Units
 
at a
 
price of
 
$3.60 per
 
unit at
 
any time
 
up to
 
24 months
 
from closing
 
of the
 
2020
Public Offering.
 
9
On November 20, 2020, the
 
Common Shares commenced trading
 
on the TSX under the
 
trading symbol “PYR”, at
which time the Common Shares were delisted from the
 
TSX-
V.
On December 22,
 
2020, PyroGenesis announced
 
it had submitted
 
a formal application
 
to list its
 
Common Shares
on the NASDAQ.
5.2.
 
Year Ended December 31,
 
2021
Business Highlights and Milestones
On March 17, 2021, PyroGenesis announced that it
 
had received a grant from the Quebec
 
Ministry of the Economy
and Innovation to fund a project aimed at developing
 
a solution to recover residues of spent pot lining,
 
which are produced
in the primary aluminum industry and are considered harmful.
On April 8, 2021, PyroGenesis announced the appointment of
 
Ms. Nannette Ramsey as an independent director.
On
 
April
 
19,
 
2021,
 
PyroGenesis
 
unveiled
 
that
 
its
 
additive
 
manufacturing
 
NEXGEN
 
powder
 
production
 
line
 
was
operational and
 
producing
 
powders. PyroGenesis’
 
NEXGEN
 
plasma
 
atomization
 
system has
 
recorded
 
a production
 
rate
exceeding 25 kg/h, surpassing all published plasma-atomized
 
production rates for titanium known to the Company.
On May 27, 2021, PyroGenesis announced that it had received a
 
grant from Sustainable Development Technology
Canada for
 
the financing
 
of the
 
development of
 
a novel
 
production
 
process to
 
transform
 
quartz into
 
fumed silica
 
using a
plasma
 
reactor,
 
reducing
 
hazardous
 
waste
 
and
 
GHG
 
emissions
 
attributed
 
to
 
the
 
established
 
fumed
 
silica
 
production
process.
 
On July 6, 2021, PyroGenesis
 
announced the signature of a
 
contract valued at approximately
 
$4 million with HPQ
Silica Polvere
 
Inc. (“
HPQ Polvere
”), a
 
wholly owned
 
subsidiary of
 
HPQ. Under
 
this contract,
 
PyroGenesis was
 
tasked to
design, develop and manufacture a
 
novel one-step plasma-based reactor and
 
process for the conversion
 
of quartz to fumed
silica.
 
The
 
contract
 
includes
 
annual
 
royalty
 
payments
 
by
 
HPQ
 
Polvere
 
to
 
PyroGenesis
 
on
 
future
 
sales
 
arising
 
from
 
the
project and PyroGenesis may,
 
at any time, convert said royalties into a 50% ownership stake
 
in HPQ Polvere.
On August 17,
 
2021, the Company
 
announced the signing
 
of a
 
$1.2 million contract
 
for two
 
air plasma torch
 
systems
with an existing Asian client. These torches are to be incorporated
 
into the client’s medical waste destruction
 
systems.
On
 
September
 
22,
 
2021,
 
PyroGenesis
 
announced
 
that
 
Pyro
 
Green-Gas
 
had
 
been
 
selected
 
to
 
supply
 
its
 
landfill
biogas purification system
 
to Carbonaxion Bioénergies Inc.,
 
the promoter of
 
the GNR Neuville
 
project, which is
 
being carried
out at the environmental complex of the Régie régionale
 
de gestion des matières résiduelles de Portneuf.
On October 19, 2021, PyroGenesis announced that
 
it had been awarded an Innovative Solutions Canada
 
phase 2
(prototype development) contract to develop a unique hybrid ceramic powder processing system for the National Research
Council Canada, Canada’s largest federal research
 
and development organization.
On
 
October
 
20,
 
2021,
 
PyroGenesis
 
announced
 
the
 
creation
 
PyroGenesis
 
Aluminum,
 
a
 
new
 
division
 
bringing
together PyroGenesis’
 
aluminum industry
 
offerings to
 
provide the
 
following primary
 
products and
 
services:
 
i) DROSRITE
sales and tolling services; ii) conversion
 
of dross residues into valuable chemicals; iii)
 
upstream applications where plasma-
based solutions
 
are expected
 
to reduce
 
GHG emissions;
 
iv) high
 
powered plasma
 
torches geared
 
to replacing
 
fossil fuel
burners; and v) conversion of spent pot lining residues
 
into a valuable end-product.
On October
 
28, 2021,
 
PyroGenesis announced that
 
it had
 
been selected
 
to provide
 
a $9.2
 
million land-based system
to destroy
 
perfluoroalkyl and
 
polyfluoroalkyl substances.
 
The Company
 
would provide
 
its plasma
 
based thermal
 
process
equipment in a two-phase
 
project geared toward providing
 
a land-based system
 
to destroy these substances.
 
On October
7, 2022, the Company announced that contract negotiations had
 
been suspended and discontinued.
On December
 
8, 2021,
 
PyroGenesis announced
 
the launch
 
of a
 
new zero-carbon
 
emission hydrogen
 
production
project
 
which
 
aims
 
to
 
compete
 
with
 
conventional
 
technologies
 
to
 
produce
 
an
 
environmentally
 
friendly
 
hydrogen.
 
If
successful,
 
PyroGenesis’
 
new
 
hydrogen
 
production
 
technology
 
would
 
convert
 
methane
 
to
 
hydrogen,
 
thereby
 
creating
 
a
zero-carbon emission hydrogen.
 
10
Corporate Developments and Financings
During the year, the Company repurchased and cancelled 840,094 common shares at a weighted average price of
$4.96 per share, for total cash considerations of $4,183,617,
 
including commissions of $16,678.
On January 12, 2021, PyroGenesis announced
 
that it intended to implement a normal
 
course issuer bid according
to which the Company could purchase
 
over a twelve-month period up
 
to 5,000,000 common shares (approximately
 
3.14%
of the then issued and outstanding).
On March 3, 2021, PyroGenesis announced the appointment
 
of Mr. Ben Naccarato
 
as an independent director.
On March 10,
 
2021, the Company
 
announced that
 
its application to
 
list its Common
 
Shares on the
 
NASDAQ had
been approved. Trading commenced on March 11, 2021, under the ticker symbol “PYR” and trading of its Common Shares
ceased to be traded on the OTCQB. In connection with the NASDAQ listing, the Company
 
announced that, to maintain the
overall
 
independence
 
of
 
the
 
Board
 
of
 
Directors,
 
Mr.
 
Michael
 
Blank
 
resigned
 
as
 
a
 
director
 
and
 
member
 
of
 
the
 
Audit
Committee but would continue to serve as the Company’s
 
acting Chief Financial Officer.
On August
 
11,
 
2021, PyroGenesis
 
finalized
 
its strategic
 
acquisition
 
of Pyro
 
Green-Gas
 
and its
 
subsidiaries
 
for a
total cash
 
consideration of approximately
 
$4.4 million. Montreal-based
 
Pyro Green-Gas designs
 
and builds
 
(i) gas upgrading
systems to convert
 
biogas into renewable
 
natural gas (“RNG”), (ii)
 
pyrolysis-gas purification systems, (iii)
 
biogas and landfill-
gas flares
 
and thermal
 
oxidizers, and
 
(iv) systems
 
for the
 
purification of
 
coke-oven gas
 
(a by-product
 
in the
 
primary steel
industry arising from
 
the conversion of coal
 
into coke) into high
 
purity hydrogen. Pyro
 
Green-Gas is also known
 
for its line
of landfill gas flares which reduce GHG emissions from
 
landfills.
On September 20, 2021, PyroGenesis announced that it had been added to the FTSE
 
Global Total
 
Cap Index and
FTSE Global
 
Micro Cap
 
Index. The
 
FTSE Global
 
Total
 
Cap Index
 
is a
 
market-capitalization
 
weighted index
 
representing
the performance of
 
large, mid and
 
small cap stocks,
 
across emerging and
 
developed companies.
 
The FTSE Global
 
Micro
Cap
 
Index
 
provides
 
deep
 
representation
 
of
 
micro
 
cap
 
stocks.
 
Both
 
indexes
 
are
 
used
 
as
 
the
 
basis
 
for
 
performance
benchmarks and investment products, such as funds, derivatives, and
 
exchange-traded funds by investment professionals
globally.
On September 27,
 
2021, PyroGenesis announced the
 
appointment of Mr. Andre Mainella,
 
as Chief Financial
 
Officer
(CFO) of the Company.
5.3.
 
Year Ended December 31,
 
2022
Business Highlights and Milestones
On February 2, 2022,
 
PyroGenesis announced the
 
receipt of a US$3,000,000
 
purchase order for
 
the first of
 
three
10-tonne DROSRITE systems from an existing client.
On February 7,
 
2022, PyroGenesis
 
announced that
 
it had signed
 
an agreement
 
with a European
 
research center
for the
 
sale
 
of a
 
plasma
 
torch
 
system which
 
will
 
be used
 
to develop
 
a process
 
to convert
 
hydrocarbons,
 
including GHG
producing gases such as methane, into non-hazardous
 
chemicals.
On April
 
25, 2022,
 
PyroGenesis confirmed
 
that the
 
Company’s DROSRITE
 
dross recovery
 
technology (a
 
total of
seven DROSRITE systems) had been successfully commissioned
 
for Ma’aden Aluminum.
On May
 
19, 2022,
 
PyroGenesis announced
 
that it
 
had completed
 
a commercial
 
order for
 
titanium powders.
 
The
order
 
derived
 
from
 
the
 
Company’s
 
partnership
 
agreement
 
with
 
Aubert
 
&
 
Duval,
 
a
 
multinational
 
specializing
 
in
 
upscale
metallurgy,
 
and
 
the
 
powder
 
in
 
question
 
was
 
produced
 
at
 
PyroGenesis’
 
production
 
facility
 
using
 
its
 
NexGen
 
plasma
atomization system.
On
 
September
 
7,
 
2022,
 
the
 
Company
 
announced
 
that
 
it
 
had
 
been
 
selected
 
by
 
an
 
international
 
producer
 
of
magnesium metal, to
 
test PyroGenesis’
 
zero-emission plasma torches as
 
part of their
 
process for transforming mining
 
waste
and recycled minerals into high-value metal.
On October
 
6, 2022,
 
PyroGenesis
 
confirmed
 
that
 
its Gen3
 
PUREVAP
 
Quartz
 
Reduction
 
Reactor pilot
 
plant had
completed the
 
month-long power-up
 
process and
 
was initiating
 
the testing
 
phase of
 
its transformation
 
of quartz
 
into high
 
11
purity
 
silicon.
 
The
 
plant
 
is
 
designed
 
to
 
produce
 
multiple
 
systems
 
that
 
can
 
operate
 
under
 
harsh
 
conditions,
 
including
 
at
extremely high temperatures and under vacuum.
On November 2, 2022, PyroGenesis announced that it had passed its annual quality audit for two key international
standards: ISO 9001:2015, and AS9100D.
 
The audits encompassed all of
 
PyroGenesis’ facilities for the purpose
 
of meeting
compliance with the existing quality management designations.
On November 10, 2022, PyroGenesis
 
announced that it had successfully
 
produced hydrogen from methane
 
using
zero-carbon emission hydrogen production technology.
Corporate Developments and Financings
On October
 
19, 2022, PyroGenesis
 
announced the
 
completion of
 
a non-brokered
 
private placement
 
consisting of
the issuance and
 
sale of 1,014,600
 
units of the
 
Corporation at a
 
price of $1.30
 
per unit, for
 
gross proceeds of
 
$1,318,980
to the Company.
 
Each unit consisted
 
of one Common
 
Share and one
 
warrant entitling the
 
holder thereof to
 
purchase one
Common Share at a price of $1.75 until October 19, 2024.
On November 22,
 
2022, PyroGenesis received
 
a notice (“Notice”)
 
from the NASDAQ
 
stating that the
 
Company is
not in compliance
 
with the
 
minimum bid
 
price requirement
 
(“Minimum Bid
 
Requirement”) of
 
US$1.00 per
 
share under
 
the
NASDAQ Listing
 
Rule 5550(a)(2) based
 
upon the
 
closing bid
 
price of
 
the Company’s Common
 
Shares for
 
the 30
 
consecutive
business days prior
 
to the date
 
of the Notice.
 
The Notice has
 
no immediate effect
 
on the listing
 
or trading of
 
the Common
Shares on NASDAQ,
 
and the Company’s
 
operations are not
 
affected by the
 
receipt of the
 
Notice. Under NASDAQ
 
Listing
Rule
 
5810(c)(3)(A),
 
the
 
Company
 
had
 
180
 
calendar
 
days
 
from
 
the
 
date
 
of
 
the
 
Notice,
 
or
 
until
 
May
 
22,
 
2023,
 
to
 
regain
compliance with the Minimum Bid Requirement, during which time the Common Shares will continue to trade on NASDAQ.
If at
 
any time
 
before May 22,
 
2023, the bid
 
price of
 
the Common Shares
 
closes at
 
or above
 
US$1.00 per share
 
for a minimum
of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Requirement.
 
If the Company
does
 
not
 
regain
 
compliance
 
with
 
the
 
Minimum
 
Bid
 
Requirement
 
by
 
May
 
22,
 
2023,
 
the
 
Company
 
may
 
be
 
eligible,
 
upon
satisfaction of certain NASDAQ listing
 
requirements, for an additional
 
period of 180 calendar days
 
to regain compliance or
the
 
Common
 
Shares
 
may
 
be
 
subject
 
to
 
delisting
 
from
 
NASDAQ.
 
The
 
Company
 
will
 
closely
 
monitor
 
the
 
situation
 
and
 
is
considering various strategies to regain compliance with the Minimum
 
Bid Requirement under the Nasdaq Listing Rules.
5.4.
 
Recent Developments
On January
 
10,
 
2023,
 
PyroGenesis
 
announced
 
a contract
 
to provide
 
its SPARC™
 
refrigerant
 
waste destruction
system to
 
a subsidiary
 
of The
 
Trust
 
for the
 
Destruction of
 
Synthetic Refrigerants,
 
a New
 
Zealand government
 
-mandated
organization. The project,
 
initially valued at $6
 
million, aims to assist
 
New Zealand in its
 
stated goals of reducing
 
synthetic
gas emissions by 25% no later than 2035.
 
On January 12, 2023, PyroGenesis announced
 
an initial contract with a
 
major European multinational chemical, oil,
and gas conglomerate to assess the
 
applicability of PyroGenesis’ plasma torches for use
 
in the client’s chemical production
process.
On
 
January
 
17,
 
2023,
 
PyroGenesis
 
announced
 
that
 
Pyro
 
Green-Gas
 
signed
 
a
 
contract
 
with
 
a
 
North
 
American
lithium-ion battery
 
recycler
 
for the
 
delivery of
 
a system
 
to decontaminate
 
the dust
 
generated during
 
the battery
 
recycling
process.
On February
 
8, 2023,
 
PyroGenesis announced
 
that Mr.
 
Alan Curleigh
 
is returning
 
to lead
 
PyroGenesis’ Board
 
of
Directors
 
as
 
Chair.
 
Mr.
 
P.
 
Peter
 
Pascali
 
stepped
 
down
 
as
 
Chair
 
and
 
will
 
continue
 
to
 
serve
 
as
 
Chief
 
Executive
 
Officer,
President and Director of PyroGenesis. The Board now
 
has eight directors, of whom six are independent.
On March 8, 2022,
 
PyroGenesis announced the
 
completion of a non-brokered
 
private placement consisting
 
of the
issuance and sale
 
of 5,000,000 units
 
of the Company
 
at a price of
 
$1.00 per unit, for
 
gross proceeds of $5,000,000
 
to the
Company. Mr. Pascali subscribed to 2,500,000
 
Units under the
 
private placement. Each
 
unit consists of
 
one Common Share
and one warrant entitling the holder to purchase one Common Share at a price of $1.25
 
until March 7, 2025. The Common
Shares
 
and
 
warrants
 
issued
 
in
 
connection
 
with
 
the
 
private
 
placement
 
as
 
well
 
as
 
the
 
Common
 
Shares
 
underlying
 
the
warrants are subject to a hold period of four months and one day
 
from the date of closing.
 
12
6.
 
Business of the Company
6.1.
 
General
 
PyroGenesis
 
is
 
a
 
high-tech
 
company
 
and
 
a
 
leader
 
in
 
the
 
design,
 
development,
 
manufacture,
 
and
commercialization
 
of
 
advanced
 
plasma
 
processes
 
and
 
sustainable
 
solutions
 
aimed
 
at
 
reducing
 
GHG
 
and
 
providing
economically
 
attractive
 
alternatives
 
to
 
conventional
 
“dirty”
 
processes.
 
PyroGenesis
 
has
 
created
 
proprietary,
 
patented,
advanced
 
plasma
 
technologies
 
that
 
are
 
being
 
vetted
 
and
 
adopted
 
by
 
industry
 
leaders
 
in
 
five
 
markets:
 
(i)
 
iron
 
ore
pelletization; (ii) aluminum; (iii) waste management; (iv)
 
steel making; and (v) additive manufacturing.
With a team of experienced engineers, scientists and technicians working at its Montreal head office and 3,800 m2
and 2,940 m2
 
manufacturing facilities, the
 
Company endeavours to
 
continuously innovate and provide
 
original and inventive
cleantech products to the marketplace. Its core competencies allow PyroGenesis to provide plasma torches, plasma waste
processes, high-temperature metallurgical
 
processes, and additive manufacturing
 
powders to the global
 
marketplace. The
operations of PyroGenesis are ISO 9001 and AS9100D
 
certified.
6.2.
 
Products and Services
The Company’s specialized products and
 
services are commercialized to
 
customers operating in a
 
wide range of industries,
including
 
the
 
defense,
 
metallurgical,
 
mining,
 
advanced
 
materials
 
(including
 
3D
 
printing),
 
oil
 
&
 
gas,
 
and
 
environmental
industries. The products and services of PyroGenesis
 
include:
 
Plasma torches systems, used for, among other things, replacing conventional burners in pelletizing of iron
ore furnaces (mining sector) and other industrial furnaces
 
(mainly metallurgy sector);
 
Waste destruction and waste-to-energy systems,
 
offered predominantly to customers in the environmental
and defense industries, and for the destruction of end-of-life
 
refrigerants;
 
Systems for
 
the recovery
 
of aluminum
 
and other
 
metal from
 
dross (a
 
residue
 
generated by
 
primary and
secondary metal producers), offered mainly to customers
 
in the mining and metallurgical industries;
 
Production
 
of
 
high
 
purity
 
spherical
 
metal
 
powders,
 
which
 
are
 
predominantly
 
offered
 
to
 
customers
 
in
 
the
additive manufacturing (also known sometimes as 3D printing)
 
industry;
 
Development
 
of
 
processes
 
to
 
produce
 
high
 
purity
 
silicon
 
metals,
 
nano
 
powders
 
and
 
nanowires,
 
offered
predominantly
 
to
 
customers
 
in
 
the
 
mining
 
and
 
metallurgical
 
industries
 
as
 
well
 
as
 
those
 
in
 
the
 
battery
manufacturing and/or disposal business;
 
Systems
 
for
 
upgrading
 
of
 
biogas
 
and
 
landfill
 
gas
 
into renewable
 
natural
 
gas,
 
used
 
in
 
the
 
environmental
industry;
 
Systems
 
used
 
in
 
the
 
petrochemical
 
and
 
metallurgical
 
industries
 
for
 
the
 
purification
 
of
 
industrial
 
gases,