dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ)
("dynaCERT" or the "Company") is pleased to announce the official
launch of its HydraGEN™ Technology products at the Truck World
Show, its application for Marine Classification
Society Type Approval and the closing of the final tranche of
its previously announced Private Placement.
Truck World Show
dynaCERT is officially launching its line of
upgraded HydraGEN™ Technology products at the Truck World Show at
the Toronto International Centre on April 19 to 21, 2018.
Truck World features over 450 exhibitors, 15,000
industry professionals and 390,000 square feet of event space.
In addition to exhibitors like dynaCERT, the Truck World
features industry service providers, associations, government and
media, as well as heavy duty service repair shops, heavy duty
wholesalers and distributors, over 6000 fleets, and over 2500
owner-operators, new vehicle dealers and manufacturers.
On April 18, over 32 national and international
dealers and agents of dynaCERT were greeted by senior management
for a full day of extensive training on the fully upgraded product
line and were familiarized with the sales and marketing materials
and corporate video in order to initiate the official launch at the
Truck World Show. dynaCERT is very pleased with its dealer network
and following our April 18 dealer meeting and launch of the
upgraded HydraGEN™ products, dynaCERT has commenced shipping
through its dealers to Halifax, Moncton, Montreal, cities in
Ontario, Calgary and Edmonton. Internationally, as well, dynaCERT
has commenced shipping to Pennsylvania, Texas, Mexico, India and
Dubai and continues to ship to Germany.
Marine Classification
Society Type Approval
Diesel powers nearly 95% of the world’s commercial,
military and pleasure craft fleet. There are typically 3 to 4
diesels in use on every vessel, as they are used for propulsion and
to generate power for onboard “hotel” loads, cranes and navigation
equipment. dynaCERT is pursuing Marine Classification
Society Type Approval for its HydraGEN™ Technology through
Lloyd’s Register. Type Approval for hydrogen-on-demand
systems does not currently exist for vessels. As a result, the work
pursued by dynaCERT will develop a new marine standard in the same
manner that is being completed in Europe for a HydraGEN™ system on
transport trucks (see press release dated March 2, 2018). When a
vessel owner chooses to modify various aspects of a vessel, an
installation plan must be submitted for approval to the local
authorities where the vessel is registered. This plan, if
accompanied by Type Approval, is more readily approved when
accompanied by a regime for installation and operations that Lloyds
Register stands behind. dynaCERT believes that obtaining a
CLASS Type Approval will take 8 to 12 months as there is a process
that will include design review, production review and operational
testing. Type Approval from Lloyd’s Register and subsequent
approval by Transport Canada Marine Safety will facilitate adoption
of the HydraGEN™ Technology Internationally.
Closing of Final Tranche of Private
Placement
dynaCERT is pleased to announce the closing of the
final tranche of its non-brokered equity private placement, as
previously announced on January 31, 2018 (the “Financing”) via the
issuance of 1,223,810 units at a price of $0.42 per unit for gross
proceeds of $514,000. When combined with the first two tranches
closing of the Financing (pursuant to which 6,249,047 units were
issued previously for gross proceeds of $2,624,600), the aggregate
gross proceeds raised under the Financing is $3,138,600, with an
aggregate of 7,472,857 units having been issued, which represents
an oversubscription of the Financing by $138,000. 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. Proceeds from the Financing will be used
to fund working capital, manufacturing and special projects of the
Company. All of the common shares and warrants that have been
issued today in connection with the Financing are subject to
statutory four-month hold periods, expiring on August 20, 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, 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 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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