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GlobeNewswire·

PyroGenesis Announces Upsize of Bought Deal LIFE Offering to $3.7 Million

PYRGF
  • PyroGenesis Inc. amended its "bought deal" offering agreement with Research Capital Corporation to increase the sale size to 10,882,500 Units for gross proceeds of $3,700,050 at $0.34 per Unit.
  • Each Unit comprises one common share & one warrant, where the warrant allows purchase of a common share at $0.42 for 36 months.
  • The Underwriter retains an option to increase the Offering by up to 15% by notifying the Company within 48 hours prior to closing.
  • Concurrently, President & CEO P. Peter Pascali intends to subscribe to a non-brokered private placement of Units for up to $2,000,000, with warrants expiring in 24 months.
  • All Units from the Concurrent Private Placement are subject to a four-month hold period under Canadian securities laws.
  • Combined proceeds from the Offering & Concurrent Private Placement are expected to reach $6,255,057.50 if the Underwriter's Option is fully exercised.
  • Net proceeds will be utilized for working capital & advancements of contracts & backlog.
  • The Offering utilizes the Listed Issuer Financing Exemption ("LIFE") for Canadian residents, with securities expected to be immediately freely tradeable in Canada.
  • The transaction is conducted via exemptions from U.S. Securities Act registration requirements for sales outside the U.S.
  • The Offering & Private Placement are expected to close on or about June 3, 2026, subject to TSX & other regulatory approvals.
  • The participation of Mr. Pascali constitutes a related party transaction approved by the Board, relying on specific exemptions from MI 61-101 valuation & minority approval requirements.
  • No distribution or dissemination of this news is permitted within the United States, & the securities have not been registered under the U.S. Securities Act of 1933.