PyroGenesis Inc. has closed its non-brokered private placement, selling 3,654,537 units at $0.54 each, raising gross proceeds of approximately $1.97 million. The offering was oversubscribed, exceeding the initial target of $1 million. Each unit includes one common share and half a warrant, allowing purchase of additional shares at $0.70 within 36 months. The company plans to use the funds for working capital and general corporate purposes. The private placement awaits final approval from the Toronto Stock Exchange. This capital raise strengthens PyroGenesis' financial position to support its plasma-based technology innovations in heavy industry and defense sectors.
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