PyroGenesis Announces Warrant Repricing
PyroGenesis (TSX: PYR) (OTCQX: PYRGF) has announced modifications to 1,710,350 common share purchase warrants. The changes include reducing the exercise price to $0.60 per share starting February 17, 2025, affecting two groups of warrants: 1,520,350 warrants currently priced at $0.75 and 190,000 warrants at $1.25. The warrants will expire on March 7, 2025.
The warrant certificates will be updated to reflect PyroGenesis' new corporate name and address, with all other terms remaining unchanged. The repricing requires final documentation with warrant holders, none of whom are company insiders. The TSX has approved these changes, subject to standard conditions. Proceeds from warrant exercises will support general corporate purposes.
PyroGenesis (TSX: PYR) (OTCQX: PYRGF) ha annunciato modifiche a 1.710.350 opzioni di acquisto di azioni ordinarie. Le modifiche includono una riduzione del prezzo di esercizio a $0.60 per azione a partire dal 17 febbraio 2025, che riguarderà due gruppi di opzioni: 1.520.350 opzioni attualmente prezzate a $0.75 e 190.000 opzioni a $1.25. Le opzioni scadranno il 7 marzo 2025.
I certificati delle opzioni saranno aggiornati per riflettere il nuovo nome e indirizzo della PyroGenesis, mantenendo inalterati gli altri termini. La riallocazione del prezzo richiede una documentazione finale con i detentori delle opzioni, nessuno dei quali è un insider dell'azienda. Il TSX ha approvato queste modifiche, soggette a condizioni standard. I proventi dall'esercizio delle opzioni supporteranno le finalità generali aziendali.
PyroGenesis (TSX: PYR) (OTCQX: PYRGF) ha anunciado modificaciones a 1,710,350 garantías de compra de acciones comunes. Los cambios incluyen la reducción del precio de ejercicio a $0.60 por acción a partir del 17 de febrero de 2025, afectando a dos grupos de garantías: 1,520,350 garantías actualmente valoradas en $0.75 y 190,000 garantías a $1.25. Las garantías expirarán el 7 de marzo de 2025.
Los certificados de garantía se actualizarán para reflejar el nuevo nombre y dirección de PyroGenesis, manteniendo inalterados todos los demás términos. La revalorización requiere documentación final con los tenedores de las garantías, ninguno de los cuales es un insider de la empresa. El TSX ha aprobado estos cambios, sujetos a las condiciones estándar. Los ingresos de los ejercicios de garantías apoyarán los fines generales corporativos.
PyroGenesis (TSX: PYR) (OTCQX: PYRGF)는 1,710,350개의 보통주 매수권에 대한 수정 사항을 발표했습니다. 변경 사항에는 2025년 2월 17일부터 주당 $0.60으로 행사 가격을 인하하는 것이 포함되며, 두 그룹의 보증에 영향을 미칩니다: 현재 $0.75로 가격이 책정된 1,520,350개의 보증과 $1.25로 가격이 책정된 190,000개의 보증이 있습니다. 보증은 2025년 3월 7일에 만료됩니다.
보증서류는 PyroGenesis의 새로운 회사 이름과 주소를 반영하도록 업데이트되며, 다른 모든 조건은 변경되지 않습니다. 가격 재조정은 회사 내부자가 아닌 보증 보유자와의 최종 문서를 요구합니다. TSX는 표준 조건을 충족하는 이 변경 사항을 승인했습니다. 보증 행사에서 발생하는 수익은 일반 기업 목적을 지원합니다.
PyroGenesis (TSX: PYR) (OTCQX: PYRGF) a annoncé des modifications concernant 1.710.350 bons de souscription d'actions ordinaires. Les changements incluent une réduction du prix d'exercice à 0,60 $ par action à partir du 17 février 2025, affectant deux groupes de bons : 1.520.350 bons actuellement au prix de 0,75 $ et 190.000 bons à 1,25 $. Les bons expireront le 7 mars 2025.
Les certificats de bons seront mis à jour pour refléter le nouveau nom et l'adresse de PyroGenesis, toutes les autres conditions restant inchangées. Le nouvel étiquetage des bons nécessite une documentation finale avec les détenteurs de bons, aucun d'eux n'étant un initié de l'entreprise. La TSX a approuvé ces changements, sous réserve de conditions standard. Les produits de l'exercice des bons soutiendront les objectifs généraux de l'entreprise.
PyroGenesis (TSX: PYR) (OTCQX: PYRGF) hat Änderungen an 1.710.350 Optionen zum Kauf von Stammaktien bekannt gegeben. Zu den Änderungen gehört die Senkung des Ausübungspreises auf 0,60 $ pro Aktie ab dem 17. Februar 2025, was zwei Gruppen von Optionen betrifft: 1.520.350 Optionen, die derzeit mit 0,75 $ bewertet sind, und 190.000 Optionen zu 1,25 $. Die Optionen laufen am 7. März 2025 aus.
Die Optionszertifikate werden aktualisiert, um den neuen Firmennamen und die Adresse von PyroGenesis widerzuspiegeln, während alle anderen Bedingungen unverändert bleiben. Die Neupreisung erfordert abschließende Dokumentationen mit den Optionsinhabern, von denen keiner ein Unternehmensinsider ist. Die TSX hat diese Änderungen genehmigt, vorbehaltlich der geltenden Standardbedingungen. Die Erlöse aus der Ausübung der Optionen werden allgemeine Unternehmenszwecke unterstützen.
- TSX approval received for warrant repricing, subject to conditions
- Potential to raise capital through warrant exercises for general corporate purposes
- Warrant repricing from $0.75 and $1.25 to $0.60 represents a significant price reduction, potentially indicating challenges in attracting investment at higher prices
- Dilutive effect on existing shareholders if warrants are exercised
MONTREAL, Jan. 31, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, announced today that up to 1,710,350 common share purchase warrants (the “Warrants”) will be amended. Of the 1,710,350 Warrants, 1,520,350 Warrants currently have an exercise price of
None of the holders of Warrants that are to be amended are insiders of the Company.
The Company has received approval of the repricing and amendments from the TSX, subject to satisfaction of customary conditions. The net proceeds from the exercise of Warrants will be used for general corporate purposes, as applicable.
About PyroGenesis Inc.
PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis’ shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY).
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 please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
E-mail: ir@pyrogenesis.com
http://www.pyrogenesis.com
FAQ
What is the new exercise price for PYRGF warrants after the repricing announcement?
How many warrants are affected by PyroGenesis' repricing announcement?
When do the repriced PYRGF warrants expire?
Are any PyroGenesis insiders participating in the warrant repricing?
What will PyroGenesis use the proceeds from warrant exercises for?
