02:08 PM EDT, 07/22/2024 (MT Newswires) -- PyroGenesis Canada ( PYRGF ) on Monday said it closed a non-brokered private placement of share units that raised $2.8-million.

The company said it placed 3.51-million units in the financing, with each priced at $0.80 and made up of a share and a one-year warrant to buy a second for for $1.20.

Peter Pascali, the company's chief executive, directly and indirectly subscribed to 1.45 million units. The private placement also includes a $500,000 investment from a strategic investor group that is currently acquiring Radian Oil and Gas Services, a client of PyroGenesis.

Proceeds will be used for working capital and general corporate purposes.

The company's shares wee last seen up $0.04 to $0.84 on the Toronto Stock Exchange.

Price: 0.84, Change: +0.04, Percent Change: +5.00