PyroGenesis Announces Oversubscription of Non-Brokered Private Placement

About this update from Pyrogenesis Inc.

[{"type":"text","content":"PyroGenesis Announces Oversubscription of Non-Brokered Private PlacementCompany will not accept any further requests for participation\nMONTREAL, March 11, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis” or “the Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that further to its recently announced press release [dated March 9, 2026], the non-brokered private placement (the “Private Placement”) is oversubscribed and the Company will not accept any further requests for participation. The Company expects to close the Private Placement within ten days, subject to regulatory approval. The Private Placement was originally structured to raise up to approximately $1,000,000 through the issuance and sale of up to 1,851,852 units of the Company (the “Units”). The Company is in the process of collecting supporting documentation and finalizing subscription agreements. The Company estimates the final subscription amounts to be between $1,700,000 and $1,900,000 (for between 3,148,148 and 3,518,518 Units). The offering for the Private Placement consists of an issuance of Units of the Company at a price of $0.54 per Unit. Each Unit consists of one common share of PyroGenesis (a “Common Share”) and one-half of a Common Share purchase warrant (each whole such common share purchase warrant, a “Warrant”) of the Company. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.70 for a period of 36 months following the closing date of the Private Placement. 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 closing, in accordance with applicable securities legislation. Under the terms of the Common Share Purchase Warrant Indenture, the Company will have the right to accelerate the expiry date of the Warrants, provided that if at any time before their expiry date, the closing price of the Common Shares on the TSX is greater than $0.90 in 2 of any 5 consecutive trading days, the Company will be entitled, within ...

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