RE:I think this has been planned and orchestrated MONTREAL, Feb. 23, 2023
PyroGenesis Canada Inc.
"...announces today that the Autorit des marchs financiers (the “AMF”), the securities regulatory authority in the Province of Qubec, has issued an order suspending the private placement of units previously announced by PyroGenesis on February 14, 2023 for a period of 15 days. As such, PyroGenesis and Cormark Securities Inc. have agreed that they will not proceed with the financing. The AMF alleges in the order that PyroGenesis does not satisfy all of the requirements necessary to complete the financing under the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, namely that PyroGenesis will have available funds to meet its business objectives and liquidity requirements for a period of 12 months.
"PyroGenesis expects to be able to provide sufficient evidence to address the AMF’s concerns over the next few weeks and will revisit its financing options, with Cormark Securities Inc., in the context of the market at that time...."
MONTREAL, March 08, 2023
PyroGenesis Canada
"...announces today that it has completed a non-brokered private placement consisting of the issuance and sale of 5,000,000 units of the Company (the “Units”) at a price of $1.00 per Unit, for gross proceeds of $5,000,000 to the Company (the “Private Placement”). P. Peter Pascali, the President and CEO of PyroGenesis, subscribed to 2,500,000 Units under the Private Placement. In connection with the Private Placement, Research Capital Corporation acted as financial advisor to the Company..."
13 days apart