PyroGenesis closes $822,000 first tranche of placement

Executive Summary

• PyroGenesis Inc. announced the closing of the first tranche of the second unit group of its non-brokered private placement, raising approximately $822,000.
• The company issued 4.11 million units at a price of $0.20 per unit, with the tranche being slightly oversubscribed.
• Both unit groups remain open and are expected to close next week, pending final TSX approval.

Key Details

• Transaction Structure: Non-brokered private placement, first tranche of the second unit group.
• Units Issued: 4.11 million units.
• Price: $0.20 per unit.
• Gross Proceeds: Approximately $822,000.
• Subscription Status: Slightly oversubscribed.
• Warrant Terms: Each unit includes one common share purchase warrant.
  • Exercise Price: $0.40 per common share.
  • Duration: 24 months from the closing date.
• Hold Period: Statutory hold period of four months and one day from the date of closing for common shares and warrants.
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Status: Conditionally approved by the Toronto Stock Exchange (TSX); subject to final TSX approval and customary closing conditions.
• Previous Tranche Context: The first tranche of the first unit group closed on Oct 16, 2025, selling 5,555,556 units at $0.63 per unit for gross proceeds of approximately $3.5 million.
  • Previous Warrant Terms: Exercise price of $0.28 per share, duration of 48 months.
• Management Participation: P. Peter Pascali (President and CEO) did not subscribe to any units in this second unit group tranche, having previously subscribed to the entire first tranche of the first unit group.
• Future Outlook: Both unit groups remain open and are expected to close next week.

Notable Quotes

• None provided in the text.