MONTREAL, Oct. 19, 2022 (GLOBE NEWSWIRE) — PyroGenesis Canada Inc. (http://pyrogenesis.com) PYR PYR 8PY, a high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”) that designs, develops, manufactures and markets advanced plasma processes and sustainable greenhouse gas (GHG) reduction solutions, announced today that it has a completed a non-brokered private placement consisting of the issuance and sale of 1,014,600 units of the Company (the “Units”) at a price of $1.30 per Unit for gross proceeds of $1,318,980 for the Company (the ” private placement”). The closing price of the Company’s common shares on October 18, 2022, the last trading day prior to the closing of the private placement, was $1.17.
Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each warrant entitles the holder to purchase one common share at a price of $1.75 until October 19, 2024. The common shares and warrants issued in connection with the private placement and the common shares underlying the warrants will be subject to a statutory hold period of four months and one day from the closing date in accordance with applicable securities laws.
These proceeds are used by the Company for working capital and general corporate purposes.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities of 1933, as amended, or any state securities laws not offered or sold within the United States unless an exemption from such registration exists.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high technology company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable…
