MONTREAL, March 09, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. ("PyroGenesis" of "the Company") (TSX:PYR) (OTCQX:PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today its intention to complete a non-brokered private placement (the "Private Placement") consisting of the issuance and sale of up to 1,851,852 units of the Company (the "Units") at a price of $0.54 per Unit, for gross proceeds of up to approximately $1,000,000. This "best-effort" private placement has been conditionally approved by the Toronto Stock Exchange (the "TSX"). P. Peter Pascali, the President and CEO of PyroGenesis, is expected to subscribe for Units equal to approximately $400,000 under the Private Placement.

Each Unit consists of one common share of PyroGenesis (a "Common Share") and one-half of a common share purchase warrant (each whole such common share purchase warrant, a "Warrant") of the Company.

Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.70 for a period of 36 months following the closing date of the Private Placement.

The Common Shares and Warrants issued in connection with the Private Placement, and the Common Shares underlying the Warrants, will be subject to a statutory hold period of four months and one day from the date of closing, in accordance with applicable securities legislation.

Under the terms of the Common Share Purchase Warrant Indenture, the Company will have the right to accelerate the expiry date of the Warrants, provided that if at any time before their expiry date, the closing price of the Common Shares on the TSX is greater than $0.90 in 2 of any 5 consecutive trading days, the Company will be entitled, within 15 days of the occurrence of ...