Pyrogenesis Canada Inc T.PYR

Nov 3 Filling share issue and Warrants (Prospectus)

[2Clubs]

This short form prospectus (the “Prospectus”) qualifies the distribution (the “Offering”) by PyroGenesis Canada Inc. (“PyroGenesis” or the “Company”) of units (the “Units”) of PyroGenesis at a price of $3.60 per Unit (the “Offering Price”). The Units are being issued and sold pursuant to an underwriting agreement dated October 20, 2020 (the “Underwriting Agreement”) entered into by the Company with Mackie Research Capital Corporation (the “Underwriter”), acting as the sole underwriter and sole bookrunner. The Units will be offered in each of the provinces of Canada through the Underwriter, its affiliates and such other registered dealers as may be designated by the Underwriter. The Offering Price was determined by arm’s length negotiation between the Company and the Underwriter. See “Plan of Distribution”. Each Unit consists of one common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire, subject to adjustment in accordance with the Warrant Indenture (as defined herein), one common share of the Company (a “Warrant Share”) at a price of $4.50 per Warrant Share at any time prior to 5:00 p.m. (Toronto time) on the date that is 24 months following the Closing Date (as defined herein) (the “Expiry Date”), provided that if at any time prior to the Expiry Date the volume-weighted average price of the common shares of the Company (the “Common Shares”) on the TSX Venture Exchange (“TSXV”) (or such other principal exchange on which the Common Shares are listed) exceeds $6.75 for 20 consecutive trading days, the Company may, within 15 days following the occurrence of such event, give written notice to the holders of the Warrants that the Warrants will expire at 5:00 p.m. (Toronto time) on the 30th day following the giving of such notice (the “Accelerated Exercise Period”). The Warrants will be governed by a warrant indenture (the “Warrant Indenture”) to be entered into on or before the Closing Date between the Company and AST Trust Company (Canada) (the “Warrant Agent”). The Units will be immediately separated into Unit Shares and Warrants upon issuance. See “Description of the Securities Being Distributed”.

[2Clubs]

Thats quite a sweetner (warrants)  to try and get the public to take up the shares. Not really open to the public unless you have access to Mackie in order to get 1/2 warrant for each shares. Lots of dilution coming up. So sold out and will wait to see if PYR can build a viable business.

[TITANIUMJOE]

Ok thanks bye bye now.  

[sandysouci]

actually, it's not a lot of dilution all... we all know that, as does PYR's management... you need to go back and check your notes or something... probably just mis-entered a number or something???... also, take some time to read old posts here, because this has all been well covered and discussed already...