logo-loader
PyroGenesis Canada Inc

PyroGenesis closes first tranche of financing; raises C$1.7 million

The Montreal-based company designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products

plasma torch
PyroGenesis is a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes

PyroGenesis Canada Inc (CVE:PYR) (OTCMKTS:PYRNF) unveiled Thursday it has raised C$1.7 million to fund the high-tech company’s plasma activities.

The Montreal-based company designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products. Plasma is highly electrically conductive, making it incredibly useful in high tech manufacturing industries.

The company issued almost 3 million shares, priced at $0.58 each for gross proceeds of C$1,737,970 in the first tranche of its previously announced non-brokered private placement. 

READ: PyroGenesis reports successful testing of its PUREVAP process to produce silicon metal

Each unit consists of one common share of the corporation and one common share purchase warrant, entitling the holder to purchase one common share at C$0.85 per share with a two-year expiration date.

The placement is subject to final approval of the TSX Venture Exchange as well as other customary closing conditions.

Shares of PyroGenesis were at C$0.60 on Thursday. 

Contact Katie Lewis at [email protected]

 

Quick facts: PyroGenesis Canada Inc

Price: $0.50

Market: TSX-V
Market Cap: $69.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of PyroGenesis Canada Inc named herein, including the promotion by the Company of PyroGenesis Canada Inc in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Pyrogenesis Canada secures C$3.6M order for a waste-treatment system

Pyrogenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) CEO Peter Pascali tells Proactive Investors the plasma technology company has received a C$3.6 million purchase order for a non-military and land-based client to utilize its waste-treatment system. Pascali says this is the company's first...

on 20/6/19

2 min read