22:16:54 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



DynaCERT Inc
Symbol DYA
Shares Issued 380,512,515
Close 2023-04-11 C$ 0.185
Market Cap C$ 70,394,815
Recent Sedar Documents

DynaCERT arranges $2-million private placement

2023-04-11 16:40 ET - News Release

Mr. Jim Payne reports

DYNACERT ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FINANCING

DynaCERT Inc. has arranged a fully subscribed arm's-length non-brokered offering for aggregate gross proceeds of $2-million. The company will issue one unit at a price of $2-million per unit, such unit consisting of (a) one convertible note bearing an annualized interest of 10 per cent maturing on Dec. 31, 2023, and convertible at the option of the holder in whole or in part into 6,666,667 common shares of the company being a conversion price of 30 cents per share, and (b) 666,667 common share purchase warrants. Each warrant entitles the holder thereof to purchase one share at an exercise price of 30 cents per share on or before March 31, 2026, subject to 30-day notice of acceleration expiry at the option of the company at any time if, for any 10 consecutive trading days during the unexpired term of such warrants, the closing price of the company's shares on the Toronto Stock Exchange is greater than 45 cents.

The net proceeds of the offering will be used for working capital purposes.

Jim Payne, president and chief executive officer of DynaCERT, stated: "It is great to see the strong commitment and unwavering belief in the future of our company by investors. The proceeds of this offering further expedites the prompt deliveries of orders which are of great strategic importance to DynaCERT."

Closing of the offering is subject to completion of formal documentation and receipt of all necessary regulatory approvals, including the Toronto Stock Exchange. In accordance with applicable securities laws, all of the shares and warrants issued under the offering will be subject to a hold period which will expire four month plus one day after the date of closing. No commissions or finders fees are payable in respect of the offering.

About DynaCERT Inc.

DynaCERT manufactures and distributes carbon emission reduction technology along with its proprietary HydraLytica telematics, a means of monitoring fuel consumption and calculating greenhouse gas emissions savings designed for the tracking of possible future carbon credits for use with internal combustion engines. As part of the growing global hydrogen economy, the company's patented technology creates hydrogen and oxygen on demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. DynaCERT's technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment.

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