07:03:23 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 256,987,016
Close 2018-11-26 C$ 0.215
Market Cap C$ 55,252,208
Recent Sedar Documents

DynaCERT applies to increase 2nd tranche size to $3.45M

2018-11-27 10:25 ET - News Release

Mr. Murray Payne reports

DYNACERT ANNOUNCES OFFERING AMENDMENT, PROPOSED OVERSUBSCRIBED SECOND TRANCHE CLOSING AND WARRANT AMENDMENTS

DynaCERT Inc. has received subscriptions for an aggregate of $2,454,480 in respect of the proposed closing of the second tranche of its financing previously announced of up to $3-million of units (see press releases of Sept. 18, 2018, Sept. 20, 2018, and Sept. 25, 2018) and has applied to the TSX Venture Exchange to amend the terms of the offering by amending the common share purchase warrants issued and to be issued under such offering, and to increase the maximum size of the offering to $3,454,480. The closing of the second tranche of the offering is subject to approval of the foregoing amendment by the exchange. The company also announces that it has made application to the exchange to extend the term and amend the exercise price of all its outstanding share purchase warrants.

The proposed amendment to the offering is such that each unit shall consist of one common share of the company and one full common share purchase warrant, each such warrant being exercisable into one share at a price of 35 cents for a period ending Dec. 1, 2020. Each unit previously consisted of one share and one-half of one warrant. The warrants were previously exercisable for a period of 24 months at a price of 50 cents. The remaining terms of the offering, including the offering price of 25 cents per unit, shall remain the same, unamended. It is expected that subscriptions will be accepted upon receipt of exchange approval in respect of the amended offering terms. Securities issued under the first tranche of the offering will be amended to be on equal terms as those issued under the amended offering.

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 company currently has a total of 7,404,627 warrants outstanding, with expiry dates ranging from February, 2019, to August, 2019, and exercise prices of 50 cents in respect of 5,261,771 warrants, and $1 in respect of 2,142,856 warrants. The company has applied to the exchange to amend the exercise prices and expiry dates on such previously issued and outstanding warrants such that all such warrants shall expire on Dec. 1, 2020 (subject to 30-day acceleration if, for any 10 consecutive trading days during the unexpired term of such warrants, the closing price of the company's shares is greater than 50 cents) and have an exercise price of 35 cents.

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. The company's 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, marine vessels, mining and forestry equipment, and railroad locomotives.

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