PyroGenesis Inc T.PYR

Misleading wording perhaps??

[Toppert1]

Montreal. December 20, 2023:

"...ate”) it closed a $1,250,000 non-brokered private placement of a convertible loan (“Loan”) in the amount of $1.25 million with Fiducie de Crdit Mellon Trust, a related party (the “Lender”).

The Loan, bearing an interest rate of 3% per annum, will be paid quarterly in arrears and will mature eighteen months following the Effective Date. During this period, the Lender may convert, in whole or in part, (i) the principal amount of the loan into common shares of the Company (“Common Shares”) at the conversion price equal to $0.4918 (the “Conversion Price”), which amount represents a 20% premium to the per share volume weighted average trading price (VWAP) of the Common Shares on the TSX for the five trading days immediately preceding the date of the Effective Date (the “Current Market Price”),....."

That financing wasn't bought by Mellon Trust.

It was bought by Pascali, plain and simple

[Toppert1]

That was an issue of convertible debentures.  It wasn't a unit offering with warrants attached.  Still not sure about the exercise price of those warrants dalesio.

[dalesio_98]

Toppert1, Actually the next paragraph did indicate 625,000 warrants at a purchase price of 40.98 cents. As part of the Loan, PyroGenesis also granted to the Lender share purchase warrants (“Warrants”) to subscribe for up to 625,000 Common Shares at a purchase price of $0.4098 per share (representing the Current Market Price on the effective date of the Loan). The Warrants expire eighteen