08:20 AM EST, 11/28/2025 (MT Newswires) -- PyroGenesis ( PYRGF ) , a provider of ultra-high-temperature process technologies for heavy industry and defense, said Friday it closed the final tranche of the second unit group of its previously announced non-brokered private placement, raising gross proceeds of C$904,083.

The second tranche closing in the second unit group involved the issuing and selling of an additional of around 4.52 million units of the company at a price of $0.20 per unit.

In total, around 8.63 million units were issued under the second unit group for gross proceeds of around $1.72 million.

The company said that the private placement sold around 14.18 million units for gross proceeds of around $5.22 million, and is now closed.

Each unit of the first unit group was made up of one share and one warrant, at a price of $0.63 per unit. Each warrant allows the holder to buy a share at a price of $0.28 for a period of forty-eight months following the closing date.

Each unit of the second unit group consists of one share and one warrant, at a price of $0.20 per unit. Each warrant entitles the holder to buy one share at a price of $0.40 for a period of twenty-four months following the closing date.

The company plans to use the proceeds of the private placement for working capital and general corporate purposes.

The private placement has been conditionally approved by the TSX, but remains subject to the TSX's final approval, as well as other customary closing conditions.