04:50 PM EDT, 03/26/2026 (MT Newswires) -- PyroGenesis Canada (PYR.TO) after trade on Thursday said it completed a non-brokered private placement, raising $1.97 million.

The company said the offering was oversubscribed, with PyroGenesis ( PYRGF ) selling 3.65-million units at $0.54 each. The financing was initially planned to raise about $1 million by selling 1.85-million units.

The units were made up of a share and one half of a three-year warrant to buy a share for $0.70.

Proceeds will be used for working capital and general corporate purposes, the company said, adding that the offering remains subject to the Toronto Stock Exchange's final approval and other closing conditions.

PyroGenesis ( PYRGF ) shares closed down $0.03 to $0.58 on the Toronto Stock Exchange.