dynaCERT Expands its Dealer Network in the Middle East with Mr. Maheboob Nagji and Closes Second Tranche of Equity Private P...
10 Abril 2018 - 7:30AM
dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ)
("dynaCERT" or the "Company") is pleased to announce that it is
expanding its network of dealers with the appointment of a key
dealer for Dubai and the greater region of the Middle East. In
conjunction with this dealer expansion, dynaCERT’s official launch
in the Middle East is scheduled for a trade show in Dubai during
the week of May 7, 2018 where the media will be featuring our
HydraGEN™ Technology.
dynaCERT is also pleased to announce that Mr.
Maheboob Rahemtulla Nagji is joining the Company’s Advisory Board.
Having spent his entire professional life as an entrepreneur, Mr.
Nagji's family trading business, Orchid Gulf, has grown under his
management. He has expanded Orchid Gulf’s existing paper merchant
business to increase its presence in the Middle East, Africa and
India. He has had a keen attachment to environmental issues ever
since he received his Juris Doctor in Environmental Law from Lewis
and Clark Law School in Portland, Oregon in 1998. In addition to
having a B.A. in Economics from the University of Michigan, he is
also alumni of Harvard Business School.
Mr. Nagji stated, "I’m very optimistic about the
present and future outlook of dynaCERT in the Middle East. I have
great confidence in management and the board. dynaCERT’s carbon
emission reduction technologies can play a positive role in the
transportation and energy sectors on a global scale.”
Jim Payne, President & CEO of dynaCERT,
states, “We are pleased to enhance the Advisory Board with the
addition of Maheboob. As a successful businessman and entrepreneur,
Maheboob’s expertise and connections in the international business
community can be invaluable to the Company.”
Closing of Second Tranche of Private
Placement
dynaCERT is pleased to announce the closing of
the second tranche of its non-brokered equity private placement, as
previously announced on January 31, 2018 (the “Financing”) via the
issuance of 3,354,285 units at a price of $0.42 per unit for gross
proceeds of $1,408,800. When combined with the first tranche
closing of the Financing (pursuant to which 2,894,762 units were
issued on February 22, 2018 for gross proceeds of $1,215,800), the
aggregate gross proceeds raised under the Financing to date is
$2,624,600, with an aggregate of 6,249,047 units having been
issued. The Financing is expected to be completed in multiple
tranches, for gross proceeds of up to $3,000,000. Each unit
consists of one common share and one-half of one common share
purchase warrant. Each whole warrant is exercisable at $0.50 for a
period of one year from closing, provided however that in the event
that the Company's common shares trade at a price above $1.00 per
common share on the TSX Venture Exchange for twenty (20)
consecutive trading days, dynaCERT shall have the right to give
notice to holders that the warrants shall expire within thirty (30)
days of such notice. Proceeds from the Financing will be used
to fund working capital, manufacturing and special projects of the
Company. All of the common shares and warrants that have been
issued today in connection with the Financing are subject to
statutory four-month hold periods, expiring on August 11, 2018.
About dynaCERT Inc. dynaCERT
Inc. manufactures, distributes, and installs Carbon Emission
Reduction Technology for use with internal combustion
engines. As part of the growing global hydrogen economy, our
patent-pending technology creates hydrogen and oxygen on-demand
through electrolysis and supplies these through the air intake to
enhance combustion, resulting in lower carbon emissions and greater
fuel efficiency. Our technology is designed for use with all types
and sizes of diesel engines used in on-road vehicles, reefer
trailers, off-road construction, power generation, marine vessels
and railroad locomotives.
Website: www.dynaCERT.com
READER ADVISORYExcept 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 completion
of additional tranches of the Financing and the potential uses of
the proceeds from the Financing. 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,
CEOFor more information, please
contact:
Jim Payne, CEO & PresidentdynaCERT Inc.#101 – 501 Alliance
AvenueToronto, Ontario M6N 2J1(416) 766-9691 x
2jpayne@dynaCERT.com
Investor RelationsdynaCERT Inc.Nancy Massicotte(416) 766-9691 x
1ir@dynaCERT.com
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