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PyroGenesis Inc T.PYR

Alternate Symbol(s):  PYRGF

PyroGenesis Inc., formerly PyroGenesis Canada Inc., is a Canada-based high-tech company. The Company is engaged in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG). The Company has created proprietary, patented and advanced plasma technologies that are used in four markets: iron ore palletization, aluminum, waste management, and additive manufacturing. It provides engineering and manufacturing expertise, contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (including 3D printing), oil and gas, and environmental industries. Its products and services include plasma atomized metal powders, aluminum and zinc dross recovery, waste management, plasma torches, and innovation/custom process development. It offers PUREVAP, which is a high purity metallurgical grade silicon and solar grade silicon from quartz.


TSX:PYR - Post by User

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Post by topseekeron Mar 07, 2018 8:12pm
190 Views
Post# 27679735

PyroGenesis Announces Closing of Private Placement

PyroGenesis Announces Closing of Private Placement Hello All Longs, More cash ' in the till '. Suspect strongly it will be put to very good use. News as follows: MONTREAL, March 07, 2018 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V:PYR), (the "Corporation" or "PyroGenesis") a Corporation that designs, develops and manufactures plasma waste-to-energy systems and plasma torch systems, is pleased to announce that subsequent to the press release of February 9th, 2018 wherein was announced the closing of a private placement (the Private Placement) following the reception of initial subscriptions (the Initial Subscriptions), that as a result of significant interest in the Private Placement, the Corporation has received additional subscriptions (the Subsequent Subscriptions) and as a result thereof the Corporation has issued and sold an additional aggregate amount of 1,600,000 units of the Corporation (the Units) at a price of $0.70 per Unit for gross proceeds of $1,120,000. As result of the Initial Subscriptions and Subsequent Subscriptions, the Corporation has issued and sold pursuant to the Private Placement a total of 4,871,429 Units for gross proceeds of $3,410,000.30 to the Corporation. Each Unit consists of one common share of the Corporation (a "Common Share") and one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $1.25 until August 9th, 2019. Each Unit will be subject to a statutory hold period of four months and one day from the date of closing. In connection with the Subsequent Subscriptions, the Corporation will pay finder fees in the amount of $4,550.00. No finder compensation warrants were issued to the agents. The proceeds from the Private Placements will be used by the Corporation for general corporate purposes. The Private Placements are subject to the final approval of the TSX Venture Exchange (TSXV) as well as other customary closing conditions. Once again, we are happy to announce that we have decided to avail ourselves of this additional funding opportunity which provides us with additional capital to move forward with a number of initiatives, and which will have an immediate impact on 2018 revenues, said P. Peter Pascali, President and CEO of PyroGenesis.
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