MONTREAL, June 03, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. ("PyroGenesis" or the "Company") (TSX:PYR) (OTCQX:PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that it has completed its previously announced "bought deal" offering (the "Offering"), pursuant to which the Company issued 12,514,875 units of the Company (the "Units") for aggregate gross proceeds $4,255,057.50 (the "Offering") at a price per Unit of $0.34 (the "Offering Price"), including the full exercise of the underwriter's option. The Offering was led by Research Capital Corporation as the sole underwriter and sole bookrunner (the "Underwriter").
Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at a price of $0.42 at any time until June 3, 2029.
In regards to the previously announced concurrent, non-brokered private placement offering (the "Concurrent Private Placement") of Units at the Offering Price for expected gross proceeds to the Company of up to $2,000,000, it is expected that the Concurrent Private Placement will close on June 4, 2026 for the full $2,000,000 subject to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange (the "TSX"). Combined, the bought deal Offering and the Concurrent Private Placement total approximately $6.2 million. All Units acquired pursuant to the Concurrent Private Placement will be subject to a hold period of four (4) months pursuant to applicable Canadian securities laws.
The Company intends to use the net proceeds from the Offering and Concurrent Private Placement for working capital and advancements of contracts and backlog.
In consideration for their services, the Underwriters received aggregate cash commissions of $276,029 and 811,850 non-transferable Common Share purchase warrants (the "Broker Warrant"). Each Broker Warrant entitles the holder thereof to purchase one Common Share at an exercise price ...
