The company issued 300,000 units at a price of C$0.56 per unit, and proceeds will be used for general corporate purposes, according to a statement.
Each unit will consist of one common share in the capital of the company and three-quarters (0.75) of a common share purchase warrant, which will be subject to a statutory hold period of four months and one day from the closing date of the placement.
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Each warrant will entitle the holder to acquire one common share at a price of C$0.75. Each warrant expires 15 months from issuance.
PyroGenesis said it will not pay finder fees or issue any finders compensation warrants in connection with the placement.
The placement is subject to the final approval of the TSX Venture Exchange as well as other customary closing conditions.
PyroGenesis, which is based in Montreal, is a high-tech company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products.
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