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GlobeNewswire·

PyroGenesis Announces Closing of $6.26 Million in Financings

PYRGF
  • PyroGenesis Inc. completed its "bought deal" offering on June 3, 2026, issuing 12,514,875 units for aggregate gross proceeds of $4,255,057.50 at $0.34 per unit.
  • The offering was led by Research Capital Corporation as the sole underwriter & bookrunner, including the full exercise of the underwriter's option.
  • Each unit consists of one common share & one warrant, where each warrant allows the purchase of one common share at $0.42 until June 3, 2029.
  • A concurrent non-brokered private placement of up to $2,000,000 is expected to close on June 4, 2026, subject to TSX approval, bringing total proceeds to approximately $6.2 million.
  • Units acquired through the concurrent private placement are subject to a four-month hold period under Canadian securities laws.
  • Net proceeds from both offerings will be used for working capital & advancements of contracts & backlog.
  • Underwriters received $276,029 in cash commissions & 811,850 non-transferable broker warrants exercisable at $0.34 until June 3, 2029.
  • Broker warrants & shares issued upon their exercise are subject to a hold period expiring on October 4, 2026.
  • The offering utilized the listed issuer financing exemption under NI 45-106 for purchasers in Canada, with securities expected to be immediately freely tradeable in Canada.
  • Securities were not registered under the U.S. Securities Act of 1933 & may not be offered or sold within the United States or to U.S. Persons.