MONTREAL, Dec. 17, 2018 -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today that it intends to complete a non-brokered private placement financing (the "Offering") for gross proceeds up to $3,045,000, by issuing 5,250,000 Units at a price of $0.85 per Unit for which it has received conditional approval from the TSXV.
“The timing of this financing may seem a bit unusual given recent press releases,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “However, management decided to take advantage of this proposal given the opportunities before us, all of which we expect will become much clearer within the next 3 weeks.”
Each Unit will consist of one common share in the capital of the Company and one full common share purchase warrant (“Unit Warrant”), each full Unit Warrant entitling the holder to acquire one common share of the Company at a price of $0.85 until December 18th, 2020.
The Corporation will pay a finder’s fee of 7% on a portion of the proceeds of this Private Placement. The Corporation will not issue any finder’s compensation warrants in connection with this Private Placement.
The proceeds from the Private Placement will be used by the Corporation for general corporate purposes.
The Private Placement is subject to the final approval of the TSX Venture Exchange (“TSXV”) as well as other customary closing conditions.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities of 1933, as amended, or any state securities laws and may not be offered or sold within the United States, unless an exemption from such registration is available.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Clmence Bertrand-Bourlaud, Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
RELATED LINKS: https://www.pyrogenesis.com/