10:55:42 EST Wed 23 Jan 2019
Enter Symbol
or Name

DynaCERT Inc
Symbol C : DYA
Shares Issued 250,063,206
Close 2018-04-20 C$ 0.44
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DynaCERT closes $514,000 final tranche of financing

2018-04-20 13:15 ET - News Release

Mr. Jim Payne reports


DynaCERT Inc. has launched its HydraGEN technology products at the Truck World trade show in Toronto, and has provided details about its application for marine-classification-society-type approval and the closing of the final tranche of its previously announced private placement.

Truck World trade show

DynaCERT is officially launching its line of upgraded HydraGEN technology products at the Truck World trade show at the Toronto International Centre from April 19, 2018, to April 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 6,000 fleets, and over 2,500 owner-operators, new vehicle dealers and manufacturers.

On April 18, 2018, 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. They were familiarized with the sales and marketing materials and corporate video in order to initiate the official launch at the Truck World trade show. DynaCERT is very pleased with its dealer network, and following its April 18, 2018, dealer meeting and launch of the upgraded HydraGEN products, DynaCERT has commenced shipping through its dealers to Halifax, Moncton, Montreal, Calgary and Edmonton. Internationally, 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 per cent of the world's commercial, military and pleasure craft fleet. There are typically three to four diesels in use on every vessel, as they are used for propulsion and to generate power for hotel loads, cranes and navigation equipment. DynaCERT is pursuing marine-classification-society-type approval for its HydraGEN technology through Lloyds 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. 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 this approval will take eight to 12 months as there is a process that will include design review, production review and operational testing. Type approval from Lloyds 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 Jan. 31, 2018, via the issuance of 1,223,810 units at a price of 42 cents per unit for gross proceeds of $514,000. When combined with the first two tranches 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 are $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 50 cents for a period of one year from closing, provided that in the event that the company's common shares trade at a price above $1 per common share on the TSX Venture Exchange for 20 consecutive trading days, DynaCERT shall have the right to give notice to holders that the warrants shall expire within 30 days of such notice. Proceeds from the financing will be used to for 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 Aug. 20, 2018.

About DynaCERT Inc.

DynaCERT manufactures, distributes and installs carbon emission reduction technology for use with internal combustion engines. As part of the growing global hydrogen economy, DynaCERT's 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.

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