17:54:51 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 256,987,016
Close 2018-12-03 C$ 0.20
Market Cap C$ 51,397,403
Recent Sedar Documents

DynaCERT closes $2.45M final tranche of financing

2018-12-04 11:13 ET - News Release

Mr. Jim Payne reports

DYNACERT ANNOUNCES COMPLETION OF OVERSUBSCRIBED OFFERING

DynaCERT Inc. has closed the second and final tranche of its previously announced oversubscribed private placement equity offering (see the company's press release dated Nov. 27, 2018) through the issuance of an aggregate of 9,817,920 units at a price of 25 cents per unit for aggregate gross proceeds of $2,454,480. With the closing of the first tranche of the financing on Sept. 25, 2018, the total amount raised is $3,454,480, representing a total of 13,817,920 units issued. PI Financial Corp. acted as a financial adviser to the company in connection with the financing.

Each unit consists of one common share of DynaCERT and one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share of the company at a price of 35 cents on or before 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. Securities issued under the first tranche of the offering have been amended to be on equal terms as those issued under the second tranche of the offering. In accordance with applicable securities laws, all of the shares and warrants issued under the offering are subject to a four-month hold period, which will expire on April 5, 2019.

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.

Certain directors, including one senior officer, of the company have subscribed for units pursuant to the offering for amounts totalling $400,000.

In connection with the offering, the company paid to certain eligible persons a 7-per-cent cash commission and issued an aggregate of 400,000 broker warrants to PI Financial. Each broker warrant entitles the holder to subscribe for one share from the date of closing of the second tranche of the offering until Dec. 1, 2020, at an exercise price of 25 cents per share subject to 30-day acceleration if, for any 10 consecutive trading days during the unexpired term of such broker warrants, the closing price of the company's shares is greater than 50 cents. In accordance with applicable securities laws, the broker warrants will also be subject to a four-month hold period, which will expire on April 5, 2019.

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, mining and forestry equipment, marine vessels, and railway locomotives.

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