18:25:33 EST Wed 27 Jan 2021
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DynaCERT files preliminary short form prospectus

2020-06-02 17:26 ET - News Release

Mr. Murray Payne reports


DynaCERT Inc. has filed a preliminary short form prospectus in connection with an overnight marketed offering of units from the treasury of the company, at a price per unit to be determined in the context of the market. The offering will be conducted through a syndicate of underwriters co-led by Eight Capital and PI Financial Corp.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder to acquire an additional common share at an exercise price to be determined in the context of the market and for a period of time to be determined, to be measured from the date of issuance of such warrants.

The size and pricing of the offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the company and the underwriters. The company has granted the underwriters an option to purchase up to an additional 15 per cent of the offering on same terms exercisable at any time up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any.

Closing of the offering is expected to occur on or about June 18, 2020, and is subject to certain conditions, including regulatory approval, including that of the TSX Venture Exchange.

The net proceeds of the offering shall be used to finance raw materials and manufacturing and assembly costs in order to create and deliver finished goods inventory for the KarbonKleen Inc. subscription program, as well as for working capital and general corporate purposes.

The units to be issued under the offering will be offered by way of short form prospectus in each of the provinces of Ontario, British Columbia and Alberta, and may be offered in the United States on a private placement basis pursuant to the exemption from the registration requirements the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

About DynaCERT Inc.

DynaCERT Inc. makes and distributes carbon emission reduction technology for internal combustion engines.

We seek Safe Harbor.

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