dynaCERT Inc. Announces Closing of Private Placement and Provides Operational Updates

July 02, 2015 3:18 PM EDT | Source: dynaCERT Inc.

Toronto, Ontario--(Newsfile Corp. - July 2, 2015) - dynaCERT Inc. (TSXV: DYA) ("dynaCERT" or the "Corporation") announces that it has closed the non-brokered private placement offering (the "Offering") firstly announced on March 23, 2015. The corporation received subscriptions for 2,574,418 units (the "Units") at price of $0.15 per Unit for an aggregate of $386,162.

Each Unit is comprised of one common share in the capital of the Corporation (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant being exercisable into one Common Share at a price of $0.25 for a two year period from the date of issuance. The Warrants will include an acceleration clause to the effect that if at any time after four (4) months and one (1) day following the issuance of the Warrants, the closing trading price of the Common Shares on the TSX Venture Exchange (the "Exchange") is greater than Cdn$0.50 per Common Share for a period of ten (10) consecutive trading days, then dynaCERT may give notice to the holders of Warrants of its intention to force the exercise of the Warrants, following which the holders thereof shall have a period of 30 days to exercise the Warrants, failing which the Warrants will automatically expire.

Net proceeds of the Offering are being used for working capital and manufacturing HydraGen units. Completion of this offering is subject to approval by the regulatory authorities.

OTHER OPERATIONAL UPDATES

FOLLOW UP ON HYDRAGEN UNITS MANUFACTURING

Parts and raw materials for the HydraGen units have now arrived to our facilities. Manufacturing and assembly of the first 100 unit production run is commencing next week.

APPOINTMENT TO ADVISORY BOARD

DynaCERT is pleased to announce the expansion of its advisory board by appointing Mr. Gonzalo Labbe.

Mr Labbe expertise in operations management in the Transport, Oil & Gas, and Retail/Service industries have been mostly exploited in South America. He has worked with Shell Company (Chile) as the Head of Order Management South America; with Cummins Engines Inc (Colombia) as Regional Service Manager and he is currently the General Manager of Enermek (and its sub Enermek Fuels), an energy sector enterprise he founded in 2010 that focuses on providing environmental solutions and energy savings in the Latin American market. With expertise in building/improving organizational processes, measurement systems and infrastructure to maximize business results in manufacturing and service operations Mr. Labbe becomes a valuable asset to dynaCERT's Advisory Board.

CANVEST 2015

The CEO and president of the company and the Chair of its Board of Director were expositors at the Canadian Investor Conference, also known as Canvest, held at the Vancouver Convention Centre West, during the last month. Company participated in important meetings with industry analysts, fund managers, and researchers from diverse institutions from across Canada. Follow up is being conducted to maximize results from the networking event.

CARIBBEAN PILOT PROJECT

After concluding phase 1 testing of the pilot project of the HydraGen technology with a stationary power generator in the Caribbean, the Caribbean Pilot Project Partner underwent Partner's major management changes. Pilot project was put temporarily on hold; final review of all data along with conversations with new management is now underway with expectations of moving into the next phases starting in fall of 2015.

About dynaCERT Inc.

dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. Our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these additives through the air intake to enhance combustion for the purpose of yielding lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications and is in development for other applications, such as power generation. More information can be found at www.dynacert.com

Forward Looking Information

This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; the uncertainty of the emerging hydrogen economy, including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

For more information, please contact:

James Payne, CEO
dynaCERT Inc.
(416) 766-9691x 2
jpayne@dynacert.com

Investor Relations
dynaCERT Inc.
(416) 766-9691
ir@dynacert.com

 

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