PyroGenesis Inc. (“PyroGenesis” or the “Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a global leader in developing ultra-high temperature plasma processes and advanced engineering solutions for heavy industry and defense, is pleased to announce the successful completion of the first tranche of the First Unit Group of its previously announced non-brokered private placement (the “Private Placement”).
The Company issued and sold an aggregate of 5,555,556 units (“Units”) at a price of $0.63 per Unit, generating gross proceeds of approximately $3.5 million.
Each Unit issued under the First Unit Group consists of one common share (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share of the Company at an exercise price of $0.28 per share for a period of forty-eight (48) months following the closing date.
All Common Shares and Warrants issued in this tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period of four months and one day from the date of issuance, as required under applicable securities regulations.
CEO Participation Demonstrates Confidence in Company’s Future
PyroGenesis is pleased to report that its President and Chief Executive Officer, P. Peter Pascali, directly subscribed for the entire first tranche, representing an investment of approximately $3.5 million through the acquisition of 5,555,556 Units at a price of $0.63 per Unit.
Mr. Pascali’s participation underscores management’s strong confidence in PyroGenesis’ long-term vision, technology portfolio, and market potential. His investment also demonstrates a significant personal commitment to the Company’s continued growth and success.
Commenting on the transaction, Mr. Pascali stated:
“This investment reflects my ongoing belief in PyroGenesis’ strategic direction and its potential to drive meaningful change in the industrial and defense sectors. As we continue to expand our advanced plasma technologies and energy-efficient solutions, this capital will help strengthen our balance sheet and support key operational priorities.”
Next Steps: Second Unit Group Expected to Close Shortly
The first tranche of the Second Unit Group of the Private Placement is expected to close next week. Under this tranche, PyroGenesis plans to issue and sell 4,000,000 units at a price of $0.20 per Unit, for gross proceeds of approximately $800,000.
Each unit under the Second Unit Group will consist of one Common Share and one Warrant, with each Warrant entitling the holder to purchase an additional Common Share at an exercise price of $0.40 for a period of twenty-four (24) months following the closing date.
The Company intends to use the net proceeds from the entire Private Placement for working capital and general corporate purposes, supporting ongoing projects and strategic initiatives.
Regulatory Approval and Compliance
The Private Placement has received conditional approval from the Toronto Stock Exchange (TSX). Completion remains subject to the TSX’s final approval and other customary closing conditions.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities issued under the Private Placement have not been registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws. Accordingly, these securities may not be offered or sold within the United States unless an exemption from such registration requirements is available.
About PyroGenesis Inc.
PyroGenesis Inc. is a Canadian company that has spent over 30 years pioneering plasma-based technologies for advanced industrial applications. The Company’s proprietary plasma processes address critical challenges in energy transition, waste destruction, additive manufacturing, metallurgy, and defense.
From its headquarters and state-of-the-art manufacturing facilities in Montreal, Quebec, PyroGenesis designs, engineers, and manufactures cutting-edge systems that serve some of the world’s largest corporations in aluminum, aerospace, steel, iron ore, energy, and environmental sectors, as well as military and government agencies.
PyroGenesis is ISO 9001:2015 and AS9100D certified, maintaining continuous ISO certification since 1997. Its shares trade on the Toronto Stock Exchange (TSX: PYR), the OTCQX Best Market (OTCQX: PYRGF) in the United States, and the Frankfurt Stock Exchange (FRA: 8PY1).
With a strong focus on innovation, sustainability, and commercialization, PyroGenesis continues to advance technologies that support global decarbonization and cleaner industrial processes.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information and statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are not historical facts but reflect management’s expectations, estimates, and projections regarding future events and performance.
Forward-looking statements may be identified by terms such as “plans,” “expects,” “intends,” “believes,” “may,” “could,” “will,” “anticipates,” “estimates,” “targets,” and similar expressions. These statements include, but are not limited to, those regarding the closing of the Second Unit Group, TSX approval, and the intended use of proceeds.
Such statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks include general market conditions, regulatory approvals, and other factors beyond the Company’s control.
Readers are cautioned not to place undue reliance on forward-looking statements. PyroGenesis disclaims any obligation to update these statements except as required by law.