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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

Post by sorrensonon Oct 25, 2022 4:47pm
160 Views
Post# 35047985

Understatement of the week Deep Dive hahahahaha

Understatement of the week Deep Dive hahahahaha"PyroGenesis Canada (TSX: PYR) has seemingly annoyed its shareholders this morning with the announcement of a private placement that has closed. The financing, referred to by the company as a “small non-brokered private placement,” was conducted at a small premium to market.

The financing in total raised gross proceeds of $1.3 million, via the sale of units at a price of $1.30 per each. Each unit contains one common share and one common share purchase warrant, which is valid until October 19, 2024 and contains an exercise price of $1.75 per share.

The financing reportedly closed on October 19, the day before which shares closes at $1.17 per each on public markets, with the company quick to highlight that the shares were sold higher than the recent closing price – while discounting the value of the two year warrant.

Proceeds from the financing are to be used for working capital and general corporate purposes.

The financing follows heavy selling from CEO Peter Pascali over the course of the last month. Since October 1, Pascali has filed that he has sold a total of 355,900 shares, for gross proceeds of $490,674. The last sale was conducted October 14, with Pascali still holding 4.5 million shares via his trust. Humourously, Pascali announced last month that he has terminated his automatic securities deposition plan, which was to see the sale of up to 800,000 common shares from the trust.

PyroGenesis last traded at $1.08 on the TSX.

 
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