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GlobeNewswire·

PyroGenesis Announces $3.0 Million Bought Deal LIFE Offering and Concurrent CEO Private Placement of up to $2.0 Million

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  • PyroGenesis Inc. has entered into an agreement with Research Capital Corporation to act as sole underwriter for a "bought deal" offering of 8,825,000 units at $0.34 per unit.
  • The primary Offering is expected to generate $3,000,500 in gross proceeds under the Listed Issuer Financing Exemption.
  • Each unit consists of one common share & one warrant exercisable at $0.42 per share for a period of 36 months from the closing date.
  • The Underwriter holds an option to increase the Offering size by up to 15% by providing written notice up to 48 hours prior to the closing date.
  • A concurrent non-brokered private placement is planned for up to $2,000,000 in gross proceeds, to be subscribed solely by CEO P. Peter Pascali.
  • Warrants issued to Mr. Pascali in the private placement will expire 24 months from the closing date, while his units are subject to a four-month hold period.
  • Combined gross proceeds from both transactions are expected to reach up to $5,450,575 if the Underwriter's Option is fully exercised.
  • Net proceeds will be utilized for working capital & advancements of contracts & backlog.
  • The Offering & Private Placement are expected to close around June 3, 2026, subject to regulatory approvals including TSX clearance.
  • The transaction constitutes a related party transaction under Multilateral Instrument 61-101, with the Board approving the deal & relying on specific exemptions from valuation & minority shareholder approval requirements.
  • Securities are restricted from distribution in the United States & may only be offered outside the U.S. or to U.S. persons under specific exemptions from the U.S. Securities Act of 1933.