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PyroGenesis Announces $1 Million Non-Brokered Private Placement

PYRGF
  • PyroGenesis Inc. announces a non-brokered private placement approved conditionally by the Toronto Stock Exchange to issue up to 1,851,852 units at $0.54 per unit for gross proceeds of up to approximately $1,000,000.
  • Each unit consists of one common share & one-half of a common share purchase warrant, with the warrant allowing the purchase of one common share at $0.70 for 36 months post-closing.
  • P. Peter Pascali, President & CEO, intends to subscribe for approximately $400,000 worth of units in this best-effort offering.
  • The common shares, warrants, & underlying shares are subject to a statutory hold period of four months & one day from the closing date.
  • The Company retains the right to accelerate the warrant expiry date to 30 days after notice if the TSX closing price exceeds $0.90 for 2 of any 5 consecutive trading days.
  • Net proceeds from the private placement will be utilized for working capital & general corporate purposes.
  • The offering remains subject to TSX final approval & other customary closing conditions, & is not registered for sale in the United States.