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Message: PyroGenesis Announces Closing of Small Non-Brokered Private Placement

MONTREAL, Oct. 23, 2019 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a 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 has closed a non-brokered private placement financing (the "Offering") for gross proceeds of approx. $168,000, by issuing 300,000 Units at a price of $0.56 per Unit.

Each Unit will consist of one (1) common share in the capital of the Company (“Common Share”) and three-quarters (0.75) of a Common Share purchase warrant (“Warrant”), which will be subject to a statutory hold period of four (4) months and one day from the closing date of the Private Placement. Each Warrant will entitle the holder to acquire one Common Share of the Company at a price of $0.75. Each Warrant expires fifteen (15) months from issuance.

The Corporation will not pay finder fees or issue any finders 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 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 m2manufacturing 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 and AS9100D 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

 

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