23:59:41 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 252,987,016
Close 2018-09-21 C$ 0.22
Market Cap C$ 55,657,144
Recent Sedar Documents

DynaCERT receives $1-million subscription for financing

2018-09-21 11:09 ET - News Release

Mr. Jim Payne reports

DYNACERT ANNOUNCES $1,000,000 FIRST TRANCHE SUBSCRIPTION OF BROKERED PRIVATE PLACEMENT

DynaCERT Inc. has received an initial $1-million subscription toward the first-tranche closing of the company's $3-million financing being led by PI Financial Corp., as previously announced on Sept. 18, 2018.

The company has submitted approval request materials to the TSX Venture Exchange in respect of the offering and the first-tranche closing is expected to be completed promptly upon receipt of approval from the exchange. An aggregate of four million units will be issued under this initial subscription at price of 25 cents per unit. Each unit will consist of one common share of DynaCERT and one-half of one common share purchase warrant at a price of 25 cents per unit. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of 50 cents for a period of 24 months from the date of closing.

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 as well as 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, including the exchange and other customary conditions. 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.

Pursuant to the offering, the company, through PI Financial, will continue to offer units. The units will be offered to 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 (registered retirement savings plans), RRIFs (registered retirement income funds), DPSPs (deferred profit-sharing plans), RESPs (registered education savings plans) and TFSAs (tax-free savings accounts).

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, the company'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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