PyroGenesis sells 5M shares at $1.00 in private placement

PyroGenesis Canada announces that it has completed a non-brokered private placement consisting of the issuance and sale of 5,000,000 units of the Company at a price of $1.00 per Unit, for gross proceeds of $5,000,000 to the Company. P. Peter Pascali, the President and CEO of PyroGenesis, subscribed to 2,500,000 Units under the Private Placement. In connection with the Private Placement, Research Capital Corporation acted as financial advisor to the Company. Each Unit consists of one common share of the Company and one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $1.25 until March 7, 2025. The Common Shares and Warrants issued in connection with the Private Placement, and the Common Shares underlying the Warrants, are subject to a hold period of four months and one day from the date of closing. The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes.