dynaCERT Inc. is pleased to announce the completion of an arm’s length equity offering for aggregate gross proceeds of $1,350,000.
dynaCERT Inc. (TSXV: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
Except 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.
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