00:19:20 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 209,499,871
Close 2016-09-28 C$ 0.16
Market Cap C$ 33,519,979
Recent Sedar Documents

DynaCERT directors, major holders enter lock-up deal

2016-09-29 13:37 ET - News Release

Mr. Jim Payne reports

DYNACERT DIRECTORS AND MAJOR SHAREHOLDERS ENTER INTO VOLUNTARY LOCK-UP AGREEMENT

Certain major shareholders of DynaCERT Inc., including directors of the company, have entered into a formal strategic voluntary lock-up agreement for a total of over 55 million shares for a term of 180 days.

The voluntary lock-up agreement stipulates that these shareholders shall not assign, deal in, pledge, sell, trade or transfer in any manner whatsoever, or agree to do so in the future, any of the shares or any beneficial interest in them, on or before March 31, 2017. This undertaking will be construed in accordance with and governed by the laws of the Province of Ontario and the laws of Canada applicable in Ontario.

DynaCERT's president and chief executive officer, Jim Payne, states: "Given the significant progress that has been achieved in recent months, we felt a voluntary lock-up agreement would demonstrate to shareholders and potential investors the commitment and confidence that management, directors and certain major shareholders have in the future of DynaCERT."

Third party testing and validation

As announced on Aug. 25, 2016, an extensive schedule of third party testing was undertaken to validate and determine proper flow rates of its flagship HydraGen product for Class 8 trucks. These tests were completed at the University of Ontario Institute of Technology, a facility deemed an automotive centre of excellence for both fuel savings and carbon emission reductions. Two different Class 8 trucks with HydraGen units were placed on a chassis dynamometer which produced extensive readings for various emissions and fuel efficacy. These tests provided over 550 pages of valuable data.

The company, along with third party engineers, have now completed reviewing and analyzing the data, and a formal report is forthcoming.

Lease expansion

On Oct. 1, 2016, DynaCERT will take possession of the newly built-out approximately 8,000-square-foot expansion. This expansion is designed for a monthly capacity of 2,000 units per eight-hour shift for the assembly of HydraGen units.

Options grant

DynaCERT also announces that, on Sept. 1, 2016, it granted an aggregate of 750,000 stock options under the company's stock option plan. Of the total stock options granted, 500,000 stock options were granted to the newly appointed chief operation officer, David Bridge. Options vest immediately and entitle the holder to purchase one common share of the corporation at an exercise price of 10 cents each, on or before Sept. 1, 2021.

About DynaCERT

DynaCERT manufactures, distributes, and installs carbon emission reduction technology for use with internal combustion engines.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.