dynaCERT Closes First Tranche of Equity Private Placement and Completes Note Redemption
February 22 2018 - 9:00AM
dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ)
("dynaCERT" or the "Company") is pleased to announce the closing of
the first tranche of its non-brokered equity private placement, as
previously announced on January 31, 2018 (the “Financing”) via the
issuance of 2,894,762 units for gross proceeds of $1,215,800. Each
unit consists of one common share and one-half of one common share
purchase warrant. Each whole warrant is exercisable at $0.50 for a
period of one year from closing, provided however that in the event
that the Company's common shares trade at a price above $1.00 per
common share on the TSX Venture Exchange for twenty (20)
consecutive trading days, dynaCERT shall have the right to give
notice to holders that the warrants shall expire within thirty (30)
days of such notice. The Financing is expected to be
completed in multiple tranches, for gross proceeds of up to
$3,000,000. Proceeds from the Financing will be used to fund
working capital, manufacturing and special projects of the Company.
In addition, the Company is pleased to announce
that, pursuant to agreements entered into with the holders of its
convertible notes (aggregate principal amount of $1,260,000) that
were issued in November 2017 (the Notes”), where the holders of the
Notes have agreed to the redemption thereof, all amounts owing
under the Notes have been repaid in full via the issuance of units
(each comprised of common shares and warrants on identical terms as
those that have been issued under the Financing).
Accordingly, the Notes were redeemed for an aggregate amount of
$1,281,288 (representing the principal amount owing, together with
all interest amounts accrued thereunder), with the redemption
amount being settled via the issuance of an aggregate of 3,050,686
common shares and 1,525,343 share purchase warrants to the holders
of the Notes.
All of the common shares and warrants that are
to be issued in connection with the Financing and the redemption of
Notes will be subject to statutory four-month hold periods,
expiring on June 22, 2018.
About dynaCERT Inc. dynaCERT
Inc. manufactures, distributes, and installs Carbon Emission
Reduction Technology for use with internal combustion
engines. As part of the growing global hydrogen economy, our
patent-pending technology creates hydrogen and oxygen on-demand
through electrolysis and supplies these through the air intake to
enhance combustion, resulting in lower carbon emissions and greater
fuel efficiency. Our technology is designed for use with all
types and sizes of diesel engines used in on-road vehicles, reefer
trailers, off-road construction, power generation, 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 completion
of additional tranches of the Financing and the potential uses of
the proceeds from the Financing. 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,
CEOFor more information, please
contact:
Jim Payne, CEO & PresidentdynaCERT Inc.#101 – 501 Alliance
AvenueToronto, Ontario M6N 2J1(416) 766-9691 x
2jpayne@dynaCERT.com
Investor RelationsdynaCERT Inc.Nancy Massicotte(416) 766-9691 x
1ir@dynaCERT.com
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