dynaCERT Gives Notice of Acceleration of Expiry Date to Holders of Re-priced Warrants
08 November 2019 - 7:26PM
dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ)
("dynaCERT" or the "Company") announces that it is sending Notices
today to all of the holders of outstanding share purchase warrants
that were repriced in accordance with TSX Venture Exchange
("TSX-V") approvals in February 2019 (see the Company’s Press
Release dated February 4, 2019), of which an aggregate of 7,186,770
warrants remaining outstanding (the “Repriced Warrants”). The
Repriced Warrants all have an exercise price of $0.35 and an expiry
date of December 1, 2020, subject to acceleration if the closing
price of the Company's common shares on the TSX-V is above $0.50
for ten consecutive trading days, which has occurred. Repriced
Warrants held by non-insiders (a total of 6,924,865 warrants) are
accelerated to a date that is 30 days from today's notice, while
Repriced Warrants held by insiders (a total of 261,905 warrants)
are accelerated to a date that is 10 days from notice in accordance
with TSX-V requirements. Pursuant to the aforementioned
Notices, holders of the Repriced Warrants have until 5:00 PM
(Toronto time) on December 9, 2019 (in the case of non-insiders;
November 18, 2019 in the case of insiders) to exercise their
Repriced Warrants, after which dates and times such warrants will
have expired.
There are currently an aggregate of 28,331,039
warrants remaining outstanding and not yet exercised, including the
Repriced Warrants. Other than the Repriced Warrants, there are,
therefore, 21,144,269 warrants remaining outstanding that have not
been re-priced from their original exercise price (the
“Non-Repriced Warrants”). The Non-Repriced Warrants all have an
exercise price of $0.35 and an expiry date of December 1, 2020,
subject to a 30-day acceleration clause, except for 16,349 broker
warrants, which have an exercise price of $1.00 and expire December
1, 2020. The acceleration clause of such Non-Repriced Warrants
provides that, in the event that the closing trading price of the
Company's common shares on the TSX-V is greater than $0.50 for ten
(10) consecutive trading days, the Company may provide notice to
the holders of the Non-Repriced Warrants of the acceleration of the
expiry time of such warrants to the date that is thirty days after
the deemed delivery of such notice. While the condition to the
provision of a 30-day notice of acceleration of the expiry date of
such Non-Repriced Warrants has been satisfied, the Company has not
delivered any such notice and has not made any decision to do so,
but retains the right to do so at a future date.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes
Carbon Emission Reduction Technology for use with internal
combustion engines. As part of the growing global hydrogen economy,
our patented technology creates hydrogen and oxygen on-demand
through a unique electrolysis system and supplies these gases
through the air intake to enhance combustion, resulting in lower
carbon emissions and greater fuel efficiency. Our technology is
designed for use with many types and sizes of diesel engines used
in on-road vehicles, reefer trailers, off-road construction, power
generation, mining and forestry equipment, marine vessels and
railroad locomotives. Website: www.dynaCERT.com
READER ADVISORYExcept for
statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. In particular, forward-looking information in this
press release includes, but is not limited to the potential future
acceleration of the expiry date of Non-Repriced Warrants. Although
we believe that the expectations reflected in the forward-looking
information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future
results, performance of achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
uncertainty as to whether our strategies and business plans will
yield the expected benefits; availability and cost of capital; the
ability to identify and develop and achieve commercial success for
new products and technologies; the level of expenditures necessary
to maintain and improve the quality of products and services;
changes in technology and changes in laws and regulations; the
uncertainty of the emerging hydrogen economy; including the
hydrogen economy moving at a pace not anticipated; our ability to
secure and maintain strategic relationships and distribution
agreements; and the other risk factors disclosed under our profile
on SEDAR at www.sedar.com. Readers are cautioned that this list of
risk factors should not be construed as exhaustive.
The forward-looking information contained in
this news release is expressly qualified by this cautionary
statement. We undertake no duty to update any of the
forward-looking information to conform such information to actual
results or to changes in our expectations except as otherwise
required by applicable securities legislation. Readers are
cautioned not to place undue reliance on forward-looking
information.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
For more information, please
contact:
Jim Payne, CEO & PresidentdynaCERT Inc.#101 – 501 Alliance
Avenue Toronto, Ontario M6N 2J1 +1 (416) 766-9691 x
2jpayne@dynaCERT.com
Investor RelationsdynaCERT Inc. Nancy Massicotte +1 (416)
766-9691 x 1ir@dynaCERT.com
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