PyroGenesis Announces Closing of Third Tranche of the Non-Brokered Private Placement for $904,083
PyroGenesis (OTCQX: PYRGF) closed the final tranche of a non-brokered private placement on Nov 28, 2025, completing sales of 14,185,969 units for total gross proceeds of $5,226,083.
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Rhea-AI Summary
PyroGenesis (OTCQX: PYRGF) closed the final tranche of a non-brokered private placement on Nov 28, 2025, completing sales of 14,185,969 units for total gross proceeds of $5,226,083. Units comprised common shares plus warrants: the 1st unit group sold 5,555,556 units at $0.63 (warrants exercisable at $0.28 for 48 months) and the 2nd unit group sold 8,630,414 units at $0.20 (warrants exercisable at $0.40 for 24 months).
Proceeds are intended for working capital and general corporate purposes. Securities and underlying shares are subject to a statutory hold period of four months and one day. The TSX has given conditional approval; final TSX approval remains outstanding.
Positive
- $5.226M gross proceeds raised
- 14,185,969 units issued and closed
- Warrants could provide additional capital if exercised
Negative
- 8,630,414 units issued in 2nd group may dilute shareholders
- Warrants struck at $0.28 and $0.40 could increase share count on exercise
- Financing remains subject to final TSX approval
Details
News Market Reaction – PYRGF
On Nov 28, the day this news came out, PYRGF closed 4.53% above the previous close.
Data tracked by StockTitan Argus for the Nov 28 session.
Key Figures
- Total units issued
- 14,185,969 units
- Total Private Placement (1st and 2nd unit groups)
- Total gross proceeds
- $5,226,083
- Non-brokered Private Placement total proceeds
- 1st group unit price
- $0.63 per unit
- First unit group pricing
- 1st group warrant strike
- $0.28
- Exercise price, 1st Unit Group Warrant (48 months)
- 2nd group unit price
- $0.20 per unit
- Second unit group pricing
- 2nd group warrant strike
- $0.40
- Exercise price, 2nd Unit Group Warrant (24 months)
- Third tranche proceeds
- $904,083
- Second tranche closing of 2nd unit group
- Hold period
- Four months and one day
- Statutory hold on securities issued in placement
Historical Context
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Fine cut titanium powder shipment to U.S. additive manufacturing customer.
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Half-tonne titanium powder order from a global aerospace leader.
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EUR 815,000 plasma torch contract for cement industry electrification.
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Final closing of non-brokered private placement totaling $5.23M.
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Q3 2025 revenue decline, lower margins, and net loss reported.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-brokered private placement financial
statutory hold period regulatory
United States Securities Act of 1933 regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
The private placement sold 14,185,969 units for gross proceeds of
MONTREAL, Nov. 28, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), the leader in ultra-high temperature processes & engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that further to its press release dated October 1, 2025, the Company has closed the final tranche of the 2nd unit group of the previously announced non-brokered private placement (the “Private Placement”). The Private Placement sold 14,185,969 units for gross proceeds of
- Each unit of the 1st unit group consists of one common share of the Company (a “Common Share”) and one common share purchase warrant (the “1st Unit Group Warrant”), at a price of
$0.63 per unit. Each 1st Unit Group Warrant entitles the holder to purchase one Common Share at a price of$0.28 for a period of forty-eight (48) months following the closing date. - Each unit of the 2nd unit group consists of one Common Share of the Company and one common share purchase warrant (the “2nd Unit Group Warrant”), at a price of
$0.20 per unit. Each 2nd Unit Group Warrant entitles the holder to purchase one Common Share at a price of$0.40 for a period of twenty-four (24) months following the closing date.
As previously announced (press release dated Oct. 16, 2025) the 1st unit group closed and sold 5,555,556 units (the “1st Units”) of the Company at a price of
Today we announce a second tranche closing in the 2nd unit group by issuing and selling an additional 4,520,414 units (the “2nd Units”) of the Company at a price of
Both unit groups are now closed.
In summary, the Private Placement (consisting of both 1st and 2nd unit groups), issued and sold a total of 14,185,969 units for total gross proceeds of
The Common Shares and warrants issued in connection with the Private Placement, and the Common Shares underlying the warrants, will be subject to a statutory hold period of four months and one day from the date of the closing, in accordance with applicable securities legislation.
PyroGenesis intends to use the proceeds of the Private Placement for working capital and general corporate purposes.
The Private Placement has been conditionally approved by the TSX, but remains subject to the TSX’s final approval, 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 Act 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 Inc.
PyroGenesis leverages 34 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges
Cautionary and Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.
Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.
For further information contact ir@pyrogenesis.com or visit http://www.pyrogenesis.com
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