Company Overview - PyroGenesis Inc. is a high-tech company focused on designing, developing, manufacturing, and commercializing advanced all-electric plasma processes and sustainable solutions aimed at supporting heavy industry in energy transition, emission reduction, commodity security, and waste remediation [1][4] - The company has proprietary, patented plasma technologies that are being adopted by major industry leaders in four key markets: iron ore pelletization, aluminum, waste management, and additive manufacturing [4] Financial Update - PyroGenesis successfully closed the first tranche of a non-brokered loan with P. Peter Pascali, receiving $2,385,000 [2] - The total loan amount could reach up to $5,750,000, with an additional $3,365,000 potentially available before June 16, 2025 [2] - In connection with this tranche, the company issued 5,207,423 common share purchase warrants to the Lender, allowing the acquisition of shares at an exercise price of $0.458 for four years [2][3] Use of Proceeds - The net proceeds from the loan will be utilized for working capital and general corporate purposes [3]
PyroGenesis Closes $2,385,000 First Tranche in Previously Announced Loan
Globenewswireยท2025-05-12 11:30