02:12:30 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 231,325,058
Close 2017-05-02 C$ 1.00
Market Cap C$ 231,325,058
Recent Sedar Documents

DynaCERT appoints Maier as COO, chief engineer

2017-05-02 10:36 ET - News Release

Mr. Jim Payne reports

DYNACERT CORPORATE UPDATES

Effective immediately, Robert Maier, MBA, PEng, will step into the role of chief operating officer and chief engineer of DynaCERT Inc. Mr. Maier has been a director of DynaCERT since February, 2015. After supporting the engineering team since becoming a director, he will now complete the planning and building of the new production facility to ramp up deliveries. He has a strong background as a senior executive leader in some of Canada's largest manufacturing companies, such as Skyjack, and has launched many new products and developed companies to commercial success. DynaCERT welcomes Mr. Maier as it reaches milestones of substantial growth and rapidly increased production to fulfill customer orders.

This change will enable David Bridge to focus exclusively on the enhancements and expansion of the DynaCERT smart electronic control unit (ECU). Mr. Bridge will be responsible for leading the development of the smart ECU's capabilities in the areas of communication, fleet management, monitoring and controlling of the company's current HydraGEN and future family of products. He will also continue the work required to support DynaCERT's various patent applications.

Jim Payne, president and chief executive officer of DynaCERT, stated: "These changes will help align with the company's focus while DynaCERT grows and expands. We are pleased that Mr. Bridge will further focus his attention in his areas of expertise, as well as broaden our IP and the product electronics and our various patents. We are also thrilled to welcome Mr. Maier as COO to best utilize his expertise in engineering, manufacturing and management."

DynaCERT has also entered into shares-for-debt agreements with two different companies to extinguish amounts owing in connection with the 2014 acquisition of the intellectual property (IP) of the HydraGEN technology.

This will be completed by the issuance of 723,959 common shares of the company at a price of $1 per share. The $500,000 principal amount owing on a promissory note issued in October, 2014, will be extinguished with shares-for-debt settlement. As well, the $223,959 interest owing on a loan that was repaid in 2014 (see the corporation's press release dated Dec. 7, 2014) will be extinguished with shares-for-debt settlement. The foregoing shares-for-debt transactions are subject to approval by the TSX Venture Exchange. All the foregoing shares will, upon issuance, be subject to a statutory four-month hold period in accordance with applicable securities laws.

Mr. Payne states: "Originally, the IP property acquisition was structured to be paid from 50 per cent of the gross profit from sales. The intellectual property is now unencumbered. The payment of all amounts owing strengthens our balance sheet and conserves capital."

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.

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