pyrogenesis canada incs shares fell sharply wednesday after the technology company moved to raise at least 75 million canadian dollars 56 million including through the sale of units of pyrogenesis to its chief executive in morning trading the shares were 14 lower at c098 the stock is now down 49 so far this year and 68 over the last 12 months the company late tuesday said it entered an agreement for a private placement of between five million and 10 million units of the company for gross proceeds of up to c10 million each unit will consist of one share and one warrant entitling the holder to buy a share at c125 each for a period of 24 months at the same time pyrogenesis said it will issue additional units to ceo p peter pascali for at least c25 million proceeds from the offering which is set to close on or about feb 23 will be used for working capital and general corporate purposes the company said