11:15:46 EDT Sat 26 Sep 2020
DynaCERT Inc
Symbol DYA
Shares Issued 345,382,426
Close 2020-06-18 C$ 0.77
Recent Sedar Documents

DynaCERT closes $8.36M overnight marketed offering

2020-06-18 11:37 ET - News Release

Mr. Murray Payne reports


DynaCERT Inc. has closed its previously announced overnight marketed offering, including the exercise in full of the underwriters' overallotment option. In connection with the offering, the company issued 12,305,000 units of the company at a price per unit of 68 cents for gross proceeds of $8,367,400. Eight Capital and PI Financial Corp. acted as co-lead underwriters, including a syndicate of Haywood Securities Inc., Industrial Alliance Securities Inc. and Stifel GMP, in the offering.

Each unit comprises one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share at an exercise price of $1 for a period of 24 months following the closing of the offering.

The company intends to use the net proceeds of the offering to finance raw materials and manufacturing and assembly costs in order to create and deliver finished goods inventory for the KarbonKleen Inc. subscription program (see press release dated May 11, 2020) and any other subscription programs and product sales, as well as for working capital and general corporate purposes.

Jim Payne, DynaCERT's president, chief executive officer and a director, stated: "This prospectus financing is a major milestone in our company's growth. We are extremely pleased with the fact that we attracted not one, but a syndicate of five major firms in the Canadian financial community, to participate in our first brokered prospectus which was an oversubscribed, overnight marketed equity financing." These firms were successful in attracting many institutional groups that have added DynaCERT as a significant Canadian ESG investment within their portfolios. Moreover, this financing is the most significant hurdle to meeting the requirement as set out in the conditional approval to graduate to the Toronto Stock Exchange which was announced on May 14, 2020.

"I want to take this time to express my thanks and appreciation for all the brokers, their sales teams, the lawyers, accountants, our excellent management team, and many other professionals in the securities industry, for all the work, time and effort to see this accomplished. We are looking forward to proving to the world with what our product line is capable of as we all move beyond these most unprecedented times with our unique hydrogen-based innovation providing carbon emissions reduction technology and future carbon credits applicable throughout every diesel engine world-wide, while at the same time reducing fuel consumption."

Underwriting commissions amounted to approximately $478,237 and 598,260 broker warrants were issued to the underwriting syndicate in connection with this offering.

About DynaCERT Inc.

DynaCERT manufactures and distributes carbon emission reduction technology for use with internal combustion engines. As part of the growing global hydrogen economy, its patented technology creates hydrogen and oxygen on demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency.

We seek Safe Harbor.

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