dynaCERT Announces Non-Brokered Private Placement, Updates Re Caribbean Pilot Project, Other Testing and Negotiating Activities
15 Abril 2014 - 10:08AM
Marketwired Canada
dynaCERT Inc. (TSX VENTURE:DYA) ("dynaCERT" or the "Corporation") announces a
non-brokered private placement (the "Offering") for aggregate gross proceeds of
up to $500,000 and provides further updates on its Caribbean Pilot Project,
testing and data sharing agreements and ongoing negotiations via its partner,
AltEnergy Advisors Inc.
Private Placement Offering
Under the Offering, the Corporation will offer a total of 5,000,000 units (each,
a "Unit") at price of $0.10 per Unit. Each Unit will be comprised of one common
share in the capital of the Corporation (each, a "Common Share") and one-half of
one (1/2) common share purchase warrant (each, a "Warrant"), with each whole
Warrant being exercisable into one Common Share at a price of $0.15 for a two
year period from the date of issuance. The Warrants will 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 (the "Exchange") is greater than Cdn$0.30 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, following which the holders thereof shall have a
period of 30 days to exercise the Warrants, failing which the Warrants will
automatically expire. The proceeds of the Offering will be used for daily
operations, research and development. To date, the Corporation has received
subscriptions in the aggregate amount of $150,000 from three separate
subscribers, including a subscription from the President and CEO of the
Corporation for 500,000 Units. Closing of the Offering is subject to receipt of
approval from the Exchange and is expected to occur in one or more tranches.
Caribbean Pilot Project
As announced via the Corporation's press release dated December 6, 2013, and
most recently updated on February 4, 2014, Phase 1 of the Corporation's pilot
project in the Caribbean was initiated on December 9, 2013. It was originally
anticipated that the Phase 1 testing would last approximately 4 weeks; however
that timeframe was altered due to mechanical difficulties with the generator's
engine (unrelated to dynaCERT's product and service). Repair of the engine has
been completed now. Baseline data is being collected and Phase 1 of the Pilot
Project is expected to resume by approximately the last week of April 2014.
Testing and Data Sharing Agreements
Enermek - As noted in the Corporation's press release dated February 4, 2014,
the Corporation entered into an agreement with Enermek (a private equity company
that focuses on providing environmental solutions and energy savings in the
Latin American market) for testing of the Corporation's HydraGen(TM) technology
on two Class 8 trucks with Cummins engines and sent product development and
technical personnel to Chile in late January 2014. The foregoing agreement
contemplated that following the initial testing period; the test protocol could
be extended to collect further data. Accordingly, the test protocol period has
been extended for an additional 90 days, during which third party testing, in
partnership with a Colombian Academic Institution, will be conducted with the
truck on a dyno to further validate both emission and fuel savings. The
Corporation will be setting up the protocol for this test and assisting with the
H2 and O2 injection set-up.
In connection with this ongoing relationship with Enermek, the Corporation is
pleased to announce that the Corporation and Enermek have proceeded with the
execution of an Agency/ Consultancy agreement. The foregoing agreement appoints
Enermek as one of dynaCERT's non-exclusive agents to represent the HydraGen(TM)
technology. The foregoing agreement is for a term of five (5) years (renewable
for an additional five (5) years thereafter) and appoints Enermek as a
non-exclusive selling agent of dynaCERT, which enables Enermek to represent
dynaCERT's products, purchase wholesale products, obtain volume discounts, etc.
The Agency/Consulting Agreement is non-exclusive, however Enermek may identify
named customers from time to time, in respect of which they shall have exclusive
negotiating rights for a period of six months following acceptance by dynaCERT.
Enermek along with dynaCERT looks forward to the opportunity of offering this
Product Suite to potential new clients in South America.
TTSI
As announced in its press release dated February 4th, 2014, the Corporation has
provided and assisted in the installation of a HydraGen(TM) unit on a 2003
Peterbuilt Class 8 truck through Total Transportation Services Inc. ("TTSI").
TTSI is headquartered in Rancho Dominguez, California, and operates trucking and
shipping of containers via multiple deep water ports throughout the United
States. Testing and on-going data collection continues.
AltEnergy / China Testing
Further to the Corporation's agreement with AltEnergy Advisors Inc.
("AltEnergy") (as most recently referenced in the Corporation's press release
dated February 4, 2014), negotiations are continuing in connection with the
potential purchase and sale of either or both the right to manufacture the
HydraGen(TM) in China and/or the right to distribution of the HydraGen(TM) in
China for on road transportation applications (or, alternatively, the entering
into of "licensing agreements" whereby manufacturing of the product would take
place internationally, in which instance dynaCERT would maintain control and
distribution of proprietary and Intellectual Property to third parties). Though
discussions are continuing, no agreements have been entered into at this stage,
nor have any principal terms been agreed upon. Further updates concerning such
negotiations and activities will be provided as they occur and become material
to the Corporation.
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. 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 periodic updates of results, testing programs
and results, negotiations with third parties concerning potential business
transactions, and the timing of certain going forward projects. 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
FOR FURTHER INFORMATION PLEASE CONTACT:
dynaCERT Inc.
Jim Payne
CEO & President
(416) 766-9691x 602
jpayne@dynacert.com
dynaCERT Inc.
Investor Relations
ir@dynacert.com
DynaCERT (TSXV:DYA)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
DynaCERT (TSXV:DYA)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024