Business
PyroGenesis Announces Closing of the First Tranche of the First Unit Group of the Non-Brokered Private Placement for Approximately $3,500,000
MONTREAL, Oct. 16, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (TSX: ...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"PyroGenesis Announces Closing of the First Tranche of the First Unit Group of the Non-Brokered Private Placement for Approximately $3,500,000\n\n\n\n MONTREAL, Oct. 16, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), the leader in innovating for ultra-high temperature processes and engineering, and a technology provider to heavy industry & defense, announces today that further to its\n \n press release dated October 1, 2025\n \n , the Company has completed the first tranche of the First Unit Group of the previously announced non-brokered private placement (the “Private Placement”) by issuing and selling an aggregate of 5,555,556 units (the “Units”) of the Company at a price of $0.63 per Unit, for gross proceeds of approximately $3,500,000 to the Company.\n \n\n\n Each Unit within the First Unit Group consists of one common share of the Company (a “Common Share”) and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one Common Share at a price of $0.28 for a period of forty-eight (48) months following the closing date.\n \n\n\n\n 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 date of the closing, in accordance with applicable securities legislation.\n \n\n P. Peter Pascali, the President and CEO of PyroGenesis, directly subscribed for the entire first tranche, representing an investment of approximately $3,500,000, through the acquisition of 5,555,556 Units at a price of $0.63 per Unit.\n \n\n The first tranche of the Second Unit Group is expected to close next week.\n \n\n\n Second Unit Group: The issuance and sale of 4,000,000 units at a price of $0.20 per unit, for approximate gross proceeds of $800,000. Each warrant under this group entitles the holder to purchase one Common Share at a price of $0.40 for a period of twenty-four (24) months following the closing date.\n \n\n\n\n PyroGenesis intends to use the proceeds of the Private Placement for working capital and general corporate purposes.\n \n\n The Private Placement has been conditionally approved by the TSX, but remains subject to the TSX’s ...