dynaCERT Announces Letter of Intent to Acquire Underlying Technology
28 Febrero 2014 - 9:28AM
Marketwired
dynaCERT Announces Letter of Intent to Acquire Underlying
Technology
TORONTO, ONTARIO--(Marketwired - Feb 28, 2014) -
dynaCERT Inc. (TSX-VENTURE:DYA) ("dynaCERT" or
the "Corporation") announces that it has entered into a Letter of
Intent (the "LOI") to acquire ownership of the technology (the
"Technology") that underlies its principal product, the
HydraGen™. At present, the Corporation has an
unrestricted, worldwide license to use the Technology for the
purpose of the manufacture, sale, import, export and distribution
of its products anywhere in the world, in respect of which it pays
a royalty fee of 6% of the net invoice price of such product sales.
Under the LOI, the Corporation will acquire the Technology
(including all patents, patents pending, intellectual property,
etc.) for a purchase price of $750,000. The foregoing price shall
be paid out of the sales of HydraGen™ units, with 50% of
the gross profits from such sales being paid to the vendor and
attributed to the purchase price. The LOI is non-binding and is
subject to being superceded by a formal purchase and sale
agreement, which is expected to be negotiated and entered into as
soon as possible.
The Corporation also announces the resignation of Jonathon
Shepherd from the position of General Manager of the Corporation.
Management of the Corporation extends its sincere thanks and
gratitude to Mr. Shepherd for his contribution and exemplary
efforts on behalf of the Corporation and offers him best wishes in
his future career endeavours. It is expected that Mr. Shepherd will
continue to assist the Corporation in a limited consulting capacity
in the areas of Project Management and Corporate Disclosure.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs
Carbon Emission Reduction Technology for use with internal
combustion engines. This 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. This
technology is currently in use with on-road applications. More
information can be found at 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
negotiation of a formal purchase and sale agreement in connection
with the acquisition of the Technology. 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
dynaCERT Inc.James PaynePresident and CEO(416)
766-9691jpayne@dynacert.comdynaCERT Inc.Investor
Relationsir@dynacert.com
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