dynaCERT Announces 2nd Tranche Closing and Completion of Private Placement Financing
12 Diciembre 2013 - 2:29PM
Marketwired
dynaCERT Announces 2nd Tranche Closing and Completion of Private
Placement Financing
TORONTO, ONTARIO--(Marketwired - Dec 12, 2013) -
dynaCERT Inc. (TSX-VENTURE:DYA) ("dynaCERT" or
the "Company") announces that it has closed its second and final
tranche of its previously announced non-brokered private placement
(the "Offering"), having received subscriptions for an aggregate of
3,374,286 units (each, a "Unit") at price of $0.175 per Unit for
aggregate gross proceeds of $590,500.
Each Unit is comprised of one common share in the capital of the
Company (each, a "Common Share") and one common share purchase
warrant (each, a "Warrant"). Each Warrant is exercisable into one
Common Share at a price of $0.25 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 (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 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.
Upon receipt of such notice, the holders of Warrants shall have 30
days thereafter to exercise the Warrants, failing which the
Warrants will automatically expire.
Under the first tranche of the Offering, the Company issued
2,802,857 Units at a price of $0.175 per Unit, raising gross
proceeds of $490,500. Under the second tranche, the Company raised
gross proceeds of $100,000 by issuing 571,429 Units at the price of
$0.175 for gross proceeds of $100,000. In accordance with
applicable securities laws, the Common Shares and Warrants issued
under the first and second tranches of the Offering are subject to
a four (4) month hold period.
The proceeds of the Offering will be used for research and
development, retirement of outstanding liabilities, and for general
working capital purposes.
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.
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,
includes 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.
dynaCERT Inc.Jonathon ShepherdGeneral Manager(416)
766-9691x605jshepherd@dynacert.comdynaCERT Inc.Investor
Relations(416) 766-9691ir@dynacert.comwww.dynacert.com
DynaCERT (TSXV:DYA)
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