12:31:06 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 233,884,517
Close 2017-08-02 C$ 0.61
Market Cap C$ 142,669,555
Recent Sedar Documents

DynaCERT appoints Farhi as adviser, closes financing

2017-08-03 12:06 ET - News Release

Mr. Jim Payne reports

DYNACERT APPOINTS SHMUEL FARHI TO THE ADVISORY BOARD AND CLOSES PRIVATE PLACEMENT

Shmuel Farhi, real estate businessman, is joining DynaCERT Inc.'s advisory board.

Mr. Farhi completed his business degree at Technion (Israel Institute of Technology) in Tel Aviv and joined his father's insurance company before seeking opportunities of his own in North America. In 1988, Mr. Farhi founded Farhi Holdings Corp., and owns and manages more than four million square feet across Ontario. He is known as a consummate dealmaker, and a passionate supporter of downtown revitalization and heritage preservation. A Farhi family member has subscribed for one million units in the current private placement, representing an investment of $700,000. The Farhi family currently holds over 10 million shares of DynaCERT.

Shmuel Farhi stated: "I'm very excited and optimistic about the present and future outlook of DynaCERT. I have great confidence in the management team and believe that DynaCERT's carbon emission reduction technologies will play a positive role in the energy sector on a global scale."

Jim Payne, president and chief executive officer of DynaCERT, states: "We are pleased to enhance the advisory board with the addition of Shmuel Farhi. The Farhi family have been long-time shareholders of DynaCERT and are demonstrating their further commitment by increasing their investment in the current offering. As a successful businessman and entrepreneur, Mr. Farhi's knowledge and connections within the business community will be invaluable to the company."

DynaCERT announces closing of private placement

The company also announces that it has raised gross proceeds of $3-million of the non-brokered private placement previously announced on July 28, 2017, and has issued 4,285,712 units at 70 cents per unit. Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant is exercisable at $1 for a period of 24 months from closing. The warrants include an acceleration clause to the effect that if at any time after four months and one day following the issuance of the warrants, the closing trading price of the common shares on the TSX Venture Exchange is greater than $1.75 per common share for a period of 10 consecutive trading days, then DynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire.

Finders' fees payable in connection with the closing consist of a cash payment equal to 7 per cent of cash raised and a number of finder's fee warrants that is equal to 7 per cent of the number of warrants issued pursuant to certain orders in the private placement, for a total of $22,890 and 16,350 finder's fee warrants. Each finder's fee warrant is exercisable to acquire a common share at a price of $1 for a period of 24 months from closing.

All of the securities issued under the private placement are subject to a four-month resale restriction. The private placement is subject to receipt of all necessary regulatory approvals, including the final approval of the exchange.

Proceeds from the private placement will finance working capital purposes, and research and development.

About DynaCERT Inc.

DynaCERT manufactures, distributes and installs carbon emission reduction technology for use with internal combustion engines. Its patent-pending technology creates hydrogen and oxygen on demand through electrolysis and supplies these additives through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Its technology is currently in use with on-road applications.

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