PyroGenesis Announces $1 Million Non-Brokered Private Placement

Executive Summary

• PyroGenesis Inc. announced a non‑brokered private placement of up to 1,851,852 units at $0.54 per unit, targeting gross proceeds of approximately $1 million.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant allows purchase of one share at $0.70 for 36 months).
• President & CEO P. Peter Pascali will personally subscribe for roughly $400,000 of the units; net proceeds are earmarked for working capital and general corporate purposes.

Key Details

• Units Offered: Up to 1,851,852 units @ $0.54 per unit → Gross Proceeds: ≈ $1,000,000.
• Subscription by CEO: Approximately $400,000 worth of units.
• Unit Composition: 1 common share + ½ warrant (full warrant = right to buy one common share at $0.70).
• Warrant Terms: Exercise price $0.70; exercisable for 36 months post‑closing.
• Statutory Hold Period: Common shares and underlying shares of warrants subject to a four‑month + one‑day hold period from closing.
• Acceleration Clause: If TSX share price > $0.90 for 2 of any 5 consecutive trading days, company may accelerate warrant expiry to 30 days after notice (notice via email or press release).
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Conditions: Private placement conditionally approved by TSX; final approval and customary closing conditions remain required.
• U.S. Offering Disclaimer: Not an offer or solicitation in the United States; securities not registered under U.S. law.

Notable Quotes

(No direct quotes were provided in the release.)