The Montreal-based company designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products.
The company is issuing 3.5 million shares at $0.58 per share for proceeds up to $2.03 million, including a warrant entitling the holder to acquire one common share at $0.85 per share with a two-year expiration date.
The placement is subject to final approval of the TSX Venture Exchange as well as other customary closing conditions.
Shares of PyroGenesis slid 1.5% on Friday to sit at $0.65.
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