dynaCERT Corporate Updates
May 02 2017 - 9:00AM
dynaCERT Inc. (TSX-V:DYA) (OTCQB:DYFSF) ("dynaCERT" or the
"Company") is pleased to announce that, with rapidly rising
business activities, effective immediately, Mr. Robert Maier, MBA,
P.Eng., will step into the role of Chief Operating Officer and
Chief Engineer. Mr. Maier has been a Director of dynaCERT since
February 2015. After supporting the engineering team since becoming
a Director, he will now complete the planning and building of the
new production facility to ramp up deliveries. He has a
strong background as a senior executive leader in some of Canada’s
largest manufacturing companies, such as Skyjack and has launched
many new products and developed companies to commercial success.
dynaCERT welcomes Mr. Maier as we reach milestones of substantial
growth and rapidly increased production to fulfill customer orders.
This change will enable Mr. David Bridge to
focus exclusively on the enhancements and expansion of the dynaCERT
Smart Electronic Control Unit (“ECU”). Mr. Bridge will be
responsible for leading the development of the Smart ECU’s
capabilities in the areas of communication, fleet management,
monitoring and controlling of our current HydraGENTM and future
family of products. He will also continue the work required to
support our various patent applications.
Jim Payne, President & CEO of dynaCERT,
states, “These changes will help align with the company’s focus
while dynaCERT grows and expands. We are pleased that Mr. Bridge
will further focus his attention in his areas of expertise, as well
as broaden our IP and the product electronics and our various
patents. We are also thrilled to welcome Mr. Maier as COO, to best
utilize his expertise in engineering, manufacturing and
management.”
dynaCERT is pleased to announce shares-for-debt
settlements and that it has entered into agreements with two
different companies to extinguish amounts owing in connection with
the 2014 acquisition of the Intellectual Property (IP) of the
HydraGENTM technology.
This will be completed by the issuance of
723,959 common shares of the Company at a price of $1.00 per
share. The $500,000 principal amount owing on a promissory
note issued in October 2014 will be extinguished with
shares-for-debt settlement. As well, the $223,959 interest owing on
a loan that was repaid in 2014 (see the Corporation’s press release
dated December 7, 2014) will be extinguished with shares-for-debt
settlement. The foregoing shares for debt transactions are subject
to approval by the TSX Venture Exchange. All the foregoing
shares will, upon issuance, be subject to a statutory four-month
hold period in accordance with applicable securities laws.
Jim Payne, President and CEO of dynaCERT,
states, “Originally, the IP property acquisition was structured to
be paid from 50% of the gross profit from sales. The intellectual
property is now unencumbered. The payment of all amounts owing
strengthens our balance sheet and conserves capital.”
About dynaCERT Inc.dynaCERT
Inc. manufactures, distributes, and installs Carbon Emission
Reduction Technology for use with internal combustion
engines. Our patent-pending technology creates hydrogen and
oxygen on-demand through electrolysis and supplies these additives
through the air intake to enhance combustion, resulting in lower
carbon emissions and greater fuel efficiency. Our technology
is currently in use with on-road applications. More
information can be found at 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 periodic updates
of results, testing programs and results, negotiations with third
parties concerning potential business transactions, and the timing
of certain going forward projects. 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 or 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 & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
(416) 766-9691 x 1
ir@dynaCERT.com
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