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MONTREAL, QUEBEC--(Marketwired - May 18, 2016) - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX VENTURE:PYR)(OTCQB:PYRNF), a TSX Venture 50® clean-tech company (the "Company" or "PyroGenesis") that designs, develops, manufactures and commercializes plasma waste-to-energy systems and plasma torch products, provides update on its most recently announced private placement financing. On April 22, 2016, PyroGenesis announced its intention to undertake a "best-efforts" private placement offering of up to $3,000,000 of secured subordinated convertible debentures of the Company, bearing an interest rate of 12% per annum pursuant to an agreement with Industrial Alliance Securities Inc. (the "Agent"), as sole agent and bookrunner (the "Offering"). The Offering was initially expected to close on or about April 29, 2016, subject to the approval of the TSX Venture Exchange ("TSXV") and the satisfaction of other customary closing conditions. Due to certain market conditions and other strategic reasons including, but not limited to, those provided in this news release, the Company is delaying the closing of the Offering to on or about June 17, 2016. |
