dynaCERT Announces $1,000,000 Closing of First Tranche of Brokered Private Placement
September 25 2018 - 4:36PM
dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB:
DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to
announce that it has closed the first tranche of its previously
announced financing with the issuance of 4,000,000 units (each, a
"Unit") at $0.25 per Unit for total proceeds of $1,000,000.
Each Unit consists of one common share (a “Share”) of dynaCERT and
one half (1/2) of one common share purchase warrant at a price of
$0.25 per Unit. Each whole warrant (a “Warrant”) entitles the
holder to purchase one common share of the Company at a price of
$0.50 for a period of 24 months. In accordance with
applicable securities laws, all of the Common Shares and Warrants
issued under the first tranche closing are subject to a four (4)
month hold period, which will expire on January 26, 2019.
As previously announced on September 18, 2018,
the Company is offering of up to $3 million of Units (the
“Offering”). The Offering also includes a 15% over-allotment
option which, if exercised in full, would result in total aggregate
proceeds in the amount of $3,450,000. PI Financial Corp. (“PI
Financial”) is acting as lead agent on its own behalf and, if
applicable, on behalf of a syndicate of agents (the “Agents”), on a
best efforts basis, subject to certain conditions stipulated in the
engagement letter.
The net proceeds of the Offering will be used
for international marketing of dynaCERT’s line of HydraGEN™
Technology products in Europe, South Asia and the Middle East and
for general working capital purposes.
The Offering is expected to be completed in
multiple tranches and is subject to the completion of formal
documentation, receipt of all necessary regulatory approvals and
other customary conditions. The Units will be offered to
accredited institutions and other accredited investors in Ontario,
Alberta and British Columbia and such other jurisdictions in Canada
as PI Financial and the Company may agree, subject to certain
exemptions and regulatory approval. The Units and the Shares and
Warrants underlying the Units will be qualified investments for
RRSPs, RRIFs, DPSPs, RESPs and TFSAs. All of the securities
sold pursuant to this Offering will be subject to a four-month plus
one day hold period starting from the date of issuance.
The Company will pay a 7% cash commission and 7%
broker warrants to PI Financial on its behalf, and on behalf of the
Agents, in applicable circumstances. A further 200,000 broker
warrants will be issuable to PI Financial in the event that the
aggregate proceeds under the Offering exceed $3,000,000.
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, 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 under the Offering, and the uses of the
proceeds of this 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 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
DynaCERT (TSXV:DYA)
Historical Stock Chart
From Aug 2024 to Sep 2024
DynaCERT (TSXV:DYA)
Historical Stock Chart
From Sep 2023 to Sep 2024