Toronto, Ontario--(Newsfile Corp. - May 29, 2015) - dynaCERT Inc. (TSXV: DYA) ("dynaCERT" or the "Corporation") announces that it has again extended the closing of its non-brokered private placement offering (the "Offering"), announced on March 23, 2015. The first extension was announced on April 30th, 2015.
Pursuant to the Offering, the Company will sell up to 10,000,000 units (each, a "Unit") at price of $0.15 per Unit. Each Unit will be 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 will be used for working capital and manufacturing of the HydraGen™ units
The Offering is scheduled to close on June 26, 2015 and closing of the Offering is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
The Corporation is also pleased to announce that it is filing today its 2014 Annual Audited Financial Statements, its related Management's Discussion and Analysis, and Chief Executive Officer and Chief Financial Officer certifications (collectively, the "Required Filings"), which were required to be filed on or before April 30, 2015.
The required filings pertaining to Q1 2015 will be filed by the June 1, 2015 deadline.
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.
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