- Announced today that it intends to complete a non-brokered private placement financing for gross proceeds up to $3,045,000, by issuing 5,250,000 Units at a price of $0.85 per Unit for which it has received conditional approval from the TSXV.
- “The timing of this financing may seem a bit unusual given recent press releases,†said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “However, management decided to take advantage of this proposal given the opportunities before us, all of which we expect will become much clearer within the next 3 weeks.â€
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, Dec. 17, 2018 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® 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 intends to complete a non-brokered private placement financing (the “Offering”) for gross proceeds up to $3,045,000, by issuing 5,250,000 Units at a price of $0.85 per Unit for which it has received conditional approval from the TSXV.
“The timing of this financing may seem a bit unusual given recent
press releases,†said Mr. P. Peter Pascali, President and CEO of
PyroGenesis. “However, management decided to take advantage of this
proposal given the opportunities before us, all of which we expect will
become much clearer within the next 3 weeks.â€
Each Unit will consist of one common share in the capital of the
Company and one full common share purchase warrant (“Unit Warrantâ€),
each full Unit Warrant entitling the holder to acquire one common share
of the Company at a price of $0.85 until December 18th, 2020.
The Corporation will pay a finder’s fee of 7% on a portion of the
proceeds of this Private Placement. The Corporation will not issue any
finder’s 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 (“TSXVâ€) 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 TSX Venture 50® 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 m2 manufacturing 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 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
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual
results, events, and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking
statements. The Corporation undertakes no obligation to publicly update
or revise any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange, its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) nor the OTCQB accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Clémence Bertrand-Bourlaud,
Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: [email protected]
RELATED LINKS: http://www.pyrogenesis.com/
