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PyroGenesis Closes a $6.26 Million in Financings

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PyroGenesis (PYR.TO) on late Tuesday said it closed a bought-deal offering of share units and a concurrent private placement of units that raise a combined $6.26 million

The company sold underwriters 12.51-million units priced at $0.34 and made up of a share and a three-year warrant to buy a share for $0.42, raising $4.26 million.

A concurrent private placement with the same terms is expected to close today, raising a further $2 million.

The company plans to use the net proceeds from the offering and concurrent private placement for working capital and to advance contracts and backlog.

The company's shares were last seen down $0.007 to $0.253 on the Toronto Stock Exchange.

Price: $0.25, Change: $-0.01, Percent Change: -3.08%

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