PyroGenesis Announces Closing of Third Tranche of the Non-Brokered Private Placement for $904,083

Executive Summary

• PyroGenesis Inc. closed the final tranche of its second‑unit group private placement, issuing a total of 14,185,969 units for gross proceeds of $5,226,083.
• The financing consisted of two unit groups: the first at $0.63 per unit (5,555,556 units sold) and the second at $0.20 per unit (8,630,414 units sold).
• Proceeds will be used for working capital and general corporate purposes; the placement is conditionally approved by the TSX pending final approval and customary closing conditions.

Key Details

• Total Units Issued: 14,185,969 units (combined first and second unit groups).
• Gross Proceeds: $5,226,083.
• First Unit Group:
• Price per unit: $0.63.
• Composition: 1 common share + 1 common share purchase warrant (exercise price $0.28, exercisable for 48 months).
• Units sold: 5,555,556 units → $3,500,000 gross proceeds.
• Second Unit Group:
• Price per unit: $0.20.
• Composition: 1 common share + 1 common share purchase warrant (exercise price $0.40, exercisable for 24 months).
• Units sold: 8,630,414 units → $1,726,083 gross proceeds.
• Tranche Breakdown:
• Second tranche of the second unit group: 4,520,414 units at $0.20 per unit → $904,083 gross proceeds.
• First tranche of the second unit group (previously announced): 4,110,000 units at $0.20 per unit → $822,000 gross proceeds.
• Use of Proceeds: Working capital and general corporate purposes.
• Statutory Hold Period: Common shares and underlying warrants subject to a four‑month‑plus‑one‑day hold period from closing date.
• Regulatory Status: Conditionally approved by the Toronto Stock Exchange; final approval and customary closing conditions remain pending.

Notable Quotes

(No executive quotes were included in the release.)