TORONTO, July 28, 2017 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX-V:DYA) (OTCQB:DYFSF) ("dynaCERT" or the "Company") is pleased to announce that Marc Bertrand, the former President & CEO of MEGA Brands (MEGA), is joining the Company’s Advisory Board.
Mr. Bertrand is a seasoned consumer products executive with nearly three decades of success in brand building, strategic licensing, international markets and manufacturing. MEGA was recognized worldwide for innovation, operational excellence, product quality and delivering value to consumers. Mr. Bertrand implemented growth through International expansion with sales teams in Europe, Latin America and Asia and distribution in over 100 countries. In addition, Mr. Bertrand has actively participated in numerous complex financial transactions.
Marc Bertrand states, "dynaCERT has an exciting new technology that has proven results for fuel efficiency and, with the significant reductions in greenhouse gases, will be a leader in the new carbon economy.”
Private Placement
dynaCERT also announces that it has amended the terms and increased the maximum amount of the private placement that was previously announced on June 8, 2017 from $1,000,000 to $3,000,000. The Company expects to close the private placement within the next week. Each unit will be issued at $0.70 and will be comprised of one common share ("Common Share") in the capital of the Company and one-half of one Common Share purchase warrant, with each whole warrant being exercisable into one Common Share at a price of $1.00 for a two-year period from the date of issuance. The warrants include an acceleration clause to the effect that if at any time after four months and one 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 $1.75 per Common Share for a period of ten consecutive trading days, then dynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire.
Mr. Bertrand will be purchasing 334,000 units, Mr. Bertrand’s father (Victor, the founder of MEGA) will be purchasing 666,000 units and Mr. Bertrand’s brother, Vic, will be purchasing 285,000 units bringing their respective holdings to 1,234,000 Common Shares, 1,332,000 Common Shares and 345,000 Common Shares.
All of the securities to be issued under the private placement will be subject to a four-month resale restriction. The proposed private placement is subject to receipt of all necessary regulatory approvals including the final approval of the Exchange. The Exchange has granted the Company an extension of up to 30 days to complete the private placement.
The Company intends to use the net proceeds of this private placement for research and development and general working capital purposes.
Jim Payne, President & CEO of dynaCERT, states, “It is with great pleasure that we welcome Mr. Bertrand to the dynaCERT Advisory Board. Mr. Bertrand brings vast knowledge in manufacturing, international markets and building brands. We are very excited that the Bertrand Family have renewed their support by increasing their shareholdings of the Company and to have access to their extensive network of industry and financial contacts. Their knowledge and experience will be of great benefit to dynaCERT as we grow both in North America and around the world.”
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, resulting in lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications. 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, statements with respect to the proposed timing and completion of the private placement and the proposed use of proceeds from the private placement. 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.
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.
On Behalf of the Board
Murray James Payne, CEO