PyroGenesis Announces $1 Million Non-Brokered Private Placement

Core Viewpoint - PyroGenesis Inc. is initiating a non-brokered private placement to raise approximately $1,000,000 through the issuance of up to 1,851,852 units at a price of $0.54 per unit, with CEO P. Peter Pascali expected to subscribe for about $400,000 of this offering [1][5]. Group 1: Private Placement Details - The private placement will consist of units, each comprising one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.70 for 36 months post-closing [2]. - The common shares and warrants issued will be subject to a statutory hold period of four months and one day from the closing date [3]. - The company can accelerate the expiry date of the warrants if the closing price of the common shares exceeds $0.90 for 2 out of 5 consecutive trading days [4]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [5]. Group 3: Company Overview - PyroGenesis Inc. specializes in ultra-high temperature processes and plasma-based technology for heavy industry and defense, with a customer base that includes leaders in aluminum, aerospace, steel, and military sectors [7]. - The company has over 35 years of experience in plasma technology and maintains ISO 9001:2015 and AS9100D certifications [7].