TORONTO, April 10, 2018 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ) ("dynaCERT" or the "Company") is pleased to announce that it is expanding its network of dealers with the appointment of a key dealer for Dubai and the greater region of the Middle East. In conjunction with this dealer expansion, dynaCERT’s official launch in the Middle East is scheduled for a trade show in Dubai during the week of May 7, 2018 where the media will be featuring our HydraGEN™ Technology.
dynaCERT is also pleased to announce that Mr. Maheboob Rahemtulla Nagji is joining the Company’s Advisory Board. Having spent his entire professional life as an entrepreneur, Mr. Nagji's family trading business, Orchid Gulf, has grown under his management. He has expanded Orchid Gulf’s existing paper merchant business to increase its presence in the Middle East, Africa and India. He has had a keen attachment to environmental issues ever since he received his Juris Doctor in Environmental Law from Lewis and Clark Law School in Portland, Oregon in 1998. In addition to having a B.A. in Economics from the University of Michigan, he is also alumni of Harvard Business School.
Mr. Nagji stated, "I’m very optimistic about the present and future outlook of dynaCERT in the Middle East. I have great confidence in management and the board. dynaCERT’s carbon emission reduction technologies can play a positive role in the transportation and energy sectors on a global scale.”
Jim Payne, President & CEO of dynaCERT, states, “We are pleased to enhance the Advisory Board with the addition of Maheboob. As a successful businessman and entrepreneur, Maheboob’s expertise and connections in the international business community can be invaluable to the Company.”
Closing of Second Tranche of Private Placement
dynaCERT is pleased to announce the closing of the second tranche of its non-brokered equity private placement, as previously announced on January 31, 2018 (the “Financing”) via the issuance of 3,354,285 units at a price of $0.42 per unit for gross proceeds of $1,408,800. When combined with the first tranche closing of the Financing (pursuant to which 2,894,762 units were issued on February 22, 2018 for gross proceeds of $1,215,800), the aggregate gross proceeds raised under the Financing to date is $2,624,600, with an aggregate of 6,249,047 units having been issued. The Financing is expected to be completed in multiple tranches, for gross proceeds of up to $3,000,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at $0.50 for a period of one year from closing, provided however that in the event that the Company's common shares trade at a price above $1.00 per common share on the TSX Venture Exchange for twenty (20) consecutive trading days, dynaCERT shall have the right to give notice to holders that the warrants shall expire within thirty (30) days of such notice. Proceeds from the Financing will be used to fund working capital, manufacturing and special projects of the Company. All of the common shares and warrants that have been issued today in connection with the Financing are subject to statutory four-month hold periods, expiring on August 11, 2018.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our 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. Our 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, marine vessels and railroad locomotives. Website: www.dynaCERT.com
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to: the completion of additional tranches of the Financing and the potential uses of the proceeds from the Financing. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; 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 and changes in laws and regulations; 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; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne, CEO & President
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
(416) 766-9691 x 1