Monday, June 2, 2025

Latest

PyroGenesis Raises $1.3 Million At $1.30 Per Unit, Surprising Shareholders

PyroGenesis Canada (TSX: PYR) has seemingly annoyed its shareholders this morning with the announcement of a private placement that has closed. The financing, referred to by the company as a “small non-brokered private placement,” was conducted at a small premium to market.

The financing in total raised gross proceeds of $1.3 million, via the sale of units at a price of $1.30 per each. Each unit contains one common share and one common share purchase warrant, which is valid until October 19, 2024 and contains an exercise price of $1.75 per share.

The financing reportedly closed on October 19, the day before which shares closes at $1.17 per each on public markets, with the company quick to highlight that the shares were sold higher than the recent closing price – while discounting the value of the two year warrant.

Proceeds from the financing are to be used for working capital and general corporate purposes.

The financing follows heavy selling from CEO Peter Pascali over the course of the last month. Since October 1, Pascali has filed that he has sold a total of 355,900 shares, for gross proceeds of $490,674. The last sale was conducted October 14, with Pascali still holding 4.5 million shares via his trust. Humourously, Pascali announced last month that he has terminated his automatic securities deposition plan, which was to see the sale of up to 800,000 common shares from the trust.

PyroGenesis last traded at $1.08 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

First Majestic Silver: The Santo Nino Discovery

Avino Silver Q1 Earnings: The Record Streak Continues!

Aya Gold & Silver Q1 Earnings: From Kitchen Sink to Record Results

Recommended

First Majestic Silver: The Santo Nino Discovery

Brazil Potash Completes Site Prep For Port Terminal

Related News

PyroGenesis Guides To “At Least” $8.0 Million In Q3 Revenues

PyroGenesis Canada (TSX: PYR) this morning provided guidance for its third quarter financial results. The...

Wednesday, November 3, 2021, 09:14:19 AM

PyroGenesis Ends 2021 With $31.1 Million In Revenue, $38.4 Million Net Loss

PyroGenesis Canada Inc. (TSX: PYR) shared on Thursday evening its financial results for Q4 and...

Friday, April 1, 2022, 10:40:00 AM

PyroGenesis Sees AMF Launch Proceedings Against Company, CEO, Director

The securities regulator in Quebec, Autorité des marchés financiers (AMF), has elected to take regulator...

Friday, September 1, 2023, 09:02:55 AM

PyroGenesis Announces Stock Buyback Program For 2022

PyroGenesis Canada (TSX: PYR) is looking to stop the slow bleed of its equity valuation....

Friday, February 11, 2022, 08:32:24 AM

PyroGenesis Quietly Announces Director Resignation

PyroGenesis Canada (TSX: PYR) is down a board member. The firm this morning quietly announced...

Friday, February 4, 2022, 08:42:38 AM