TORONTO, Dec. 16, 2019 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that Mosolf SE & CO. AG (“MOSOLF”), a significant European dealer of dynaCERT (see dynaCERT's press release dated October 16, 2019), is making a strong and strategic financial commitment to the Company with the expansion of dealer operations across Germany and neighbouring European countries. As well, Dr. Joerg Mosolf, President and Chief Executive Officer of MOSOLF, has made an additional personal equity investment of $1 million.
Dr. Joerg Mosolf advises that MOSOLF has already hired twenty-three (23) new employees dedicated 100% full-time to the marketing, sales and installations of dynaCERT’s HydraGEN™ Technology in Germany, France, Benelux and Poland. As well, MOSOLF has dedicated a showroom in Germany to showcase professionally and exclusively dynaCERT’s HydraGEN™ Technology. Dr. Mosolf is personally dedicating his individual time on a daily basis to introducing dynaCERT’s HydraGEN™ Technology to Chief Executives of users and potential users in Europe as well as important government officials and OEM’s in Germany.
In addition and more specifically, MOSOLF, as a dealer of dynaCERT, has indicated formally to the Company that it is currently setting up the following:
- In Germany: 12 showrooms, starting in January 2020, for showcasing dynaCERT’s HydraGEN™ Technology in various cities across Germany;
- In France: 2 showrooms, starting in January 2020, for showcasing dynaCERT’s HydraGEN™ Technology and expand more showrooms across cities in France within the next 12 months;
- In Belgium: 1 showroom, starting in January 2020, for showcasing dynaCERT’s HydraGEN™ Technology in various cities across Belgium;
- In Holland: 1 showroom, starting in January 2020, for showcasing dynaCERT’s HydraGEN™ Technology in various cities across Holland;
- In Czech Republic: 1 showroom to be set up in Prague in the first quarter of 2020; and
- In Poland: 1 showroom to be set up in the second quarter of 2020.
On the Rhine River, MOSOLF is initiating marine applications by installing dynaCERT’s HydraGEN™ Technology on one of the RoRo inland vessels, MS Terra, owned by the Dutch shipping company F. Elbert B.V. in turn owned by shipper Mr. Frans Elbert. The vessel has a loading capacity of 175 commercial vehicles of the Sprinter class or 250 cars. MOSOLF’s compound at the Rhine port in Düsseldorf functions as a trimodal transport hub (road, rail, water) for the transport of vehicles between the Rhine-Ruhr metropolitan area and the North Range seaports.
MOSOLF is also installing dynaCERT’s HydraGEN™ Technology on the largest shipping line in Europe, the Grimaldi Group, owned by the Grimaldi family. (see https://www.grimaldi.napoli.it/en/index.html). The HydraGEN™ Units are expected to be installed on Short Sea Ships navigating the Mediterranean Sea and the North Sea which are larger than those used on the Rhine River. Pursuant to the Paris Accord, the European Union is advancing legislation to govern carbon emissions by ships on navigable seas surrounding the continent.
Dr. Mosolf is already in negotiations with the German military, the BUNDESWEHR, to install dynaCERT’s HydraGEN™ Technology, with the support of Mrs. Smietje Möller, a member of the German Parliament.
Dr. Mosolf has commenced negotiations with the Minister of Transport of Germany to further support the widespread introduction of dynaCERT’s HydraGEN™ Technology on a national German level and also on a broader European level. As a follow-up to these government meetings, more meetings are also already set up this month with the Minister of the Economy.
Based in Kirchheim/Teck, Germany, MOSOLF is one of the leading logistics system service providers to the automotive industry in Europe. MOSOLF has been growing exponentially in the automobile industry since 1955. The wide spectrum of services provided by MOSOLF covers the complete value-added chain for commercial and construction vehicles and automobile logistics, ranging from the end of the production line to end-of-life vehicle recycling. With a staff of over 2,800, these services are provided using a broad network of thirty-eight (38) technical centers and a multi-modal fleet that combines different resources for road, rail and river transportation methods with numerous points of sale and service throughout Europe. (see: https://www.mosolf.com/en.html)
In addition to MOSOLF's expansion of dealer operations, Dr. Joerg Mosolf, through a wholly-owned entity, is the sole subscriber under an arm's length equity offering for aggregate gross proceeds of $1,000,000 (the “Offering”). Combined with his subscription to a previous offering, Dr. Mosolf now owns 4,000,000 Shares or approximately 1.2% of the 336,728,260 issued and outstanding shares of Company, in addition to 2,000,000 warrants of the Company, which, if exercised, would bring his ownership to approximately 1.8%.
Under this Offering, the Company issued an aggregate of 2,000,000 units (each, a “Unit”) at a price of $0.50 per Unit, each Unit consisting of one (1) common share (a “Share”) and one-half (1/2) of one common share purchase warrant. Each whole warrant (a “Warrant”) entitles the holder thereof to purchase one (1) Share at an exercise price of $0.65 per Share on or before December 13, 2021, subject to 30-day notice of acceleration expiry at the option of the Company at any time if, for any ten 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 $0.80. In accordance with applicable securities laws, all of the Shares and Warrants issued under the Offering are subject to a hold period equal to four (4) months plus one day, which will expire on April 14, 2020.
The net proceeds of the Offering will be used in part to fulfill timely delivery of sales of products as previously announced and to now expedite current and new deliveries to Europe (see Press Release of October 16, 2019) and for general working capital purposes.
Dr. Joerg Mosolf stated, “MOSOLF is committing operating capital in the future of dynaCERT’s HydraGEN™ Technology because it is vitally important to reducing pollution in Europe. At MOSOLF, we want to lead the way in many countries and with many governments at all levels of government to reducing harmful emissions by transport vehicles. This commitment is our newest priority going forward in 2020. We intend to continue to invest in this technology for many years to come.”
Jim Payne, President & CEO of dynaCERT, stated, “Our board is very pleased to welcome the strong commitment and marketing and technical support in the future of our Company by Dr. Joerg Mosolf, a strong investor in Europe. The proceeds of this Offering further expedites the prompt deliveries of previously announced orders which are of great strategic importance to dynaCERT.”
The securities offered hereby have not and will not be registered under the United States Securities Act of 1933 (the "1933 Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act, or are otherwise exempt from such registration.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our 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. Our technology is designed for use with many 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 railroad locomotives. Website: www.dynaCERT.com
READER ADVISORY
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 potential uses of proceeds from the sales of securities under the Offering and ongoing negotiations with third parties. 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 of 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.
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On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nancy@irprocommunications.com