Mr. Jim Payne reports
DYNACERT ANNOUNCES PRIVATE PLACEMENT
DynaCERT Inc. has arranged a private placement of units at a price of 25 cents per unit for aggregate gross proceeds of $4.6-million. Each unit shall consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one share at an exercise price of 35 cents per share on or before Dec. 1, 2020, subject to a 30-day notice of acceleration expiry if, for any 10 consecutive trading days during the unexpired term of such warrants, the closing price of the company's shares on the TSX Venture Exchange is greater than 50 cents.
Closing of the offering is expected to occur upon completion of formal documentation and receipt of all necessary regulatory approvals, including the TSX Venture Exchange. In accordance with applicable securities laws, all of the shares and warrants issued under the offering will be subject to a four-month-plus-one-day hold period.
The net proceeds of the offering will be used for international marketing of DynaCERT's line of HydraGEN technology products in Europe, South Asia and the Middle East and for general working capital purposes.
About
DynaCERT
Inc.
DynaCERT manufactures, distributes and installs carbon emission reduction technology for use with internal combustion engines. As part of the growing global hydrogen economy, its patent-pending technology creates hydrogen and oxygen on demand through electrolysis and supplies these through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Its technology is designed for use with all types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels, and railway locomotives.
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