dynaCERT Announces Strategic Investment by Way of Private Placement
13 November 2019 - 11:00PM
dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ)
("dynaCERT" or the "Company") is pleased to announce the completion
of an arm's length equity offering for aggregate gross proceeds of
$1,350,000 (the “Offering”). The Company has issued an
aggregate of 2,700,000 units (each, a “Unit”) at a price of $0.50
per Unit, with each Unit consisting of one (1) common share (a
“Share”) and one-half (1/2) of one common share purchase
warrant. Each whole warrant (a “Warrant”) entitles the holder
thereof to purchase one (1) Share at an exercise price of $0.65 per
Share on or before November 13, 2021, subject to 30-day notice of
acceleration expiry at the option of the Company at any time if,
for any ten consecutive trading days during the unexpired term of
such Warrants, the closing price of the Company's Shares on the TSX
Venture Exchange is greater than $0.80. The Offering has been
fully subscribed. In accordance with applicable securities
laws, all of the Shares and Warrants issued under the Offering are
subject to a hold period equal to four (4) month plus one day,
which will expire on March 14, 2020.
The net proceeds of the Offering will be used in
part for capital expenditures related to dynaCERT's assembly line
of HydraGENä Technology in Toronto to improve such assembly’s
efficiency and fulfill timely delivery of sales of products as
previously announced and to now expedite current and new deliveries
to Europe, Mexico and North America (see Press Releases of October
16, 2019 and August 20, 2019) and for general working capital
purposes.
A major European strategic investor has
subscribed for a substantial majority of the Offering. In addition,
KarbonKleen Inc., a preferred systems provider of HydraGENä
Technology in North America, has also subscribed in this
Offering.
Jim Payne, President & CEO of dynaCERT
stated, “It is great to see the strong commitment and unwavering
belief in the future of our Company by strong investors in both
Europe and North America. The proceeds of this Offering further
expedites the prompt deliveries of previously announced orders
which are of great strategic importance to dynaCERT”.
The securities offered hereby have not and will
not be registered under the United States Securities Act of 1933
(the "1933 Act") and may not be offered or sold in the United
States or to U.S. persons (as defined in Regulation S under the
1933 Act) unless the securities have been registered under the 1933
Act, or are otherwise exempt from such registration.
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 uses of
proceeds from the sales of securities under the Offering. 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,
CEOFor 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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