TORONTO, June 14, 2013 /CNW/ - dynaCERT Inc. (TSX -V: DYA) ("Dynacert"
or the "Corporation") today announced the dismissal of the counterclaim
by "Bearance ("Bearance") and his company Synergic Distribution Inc.
("Synergic") against the Corporation and the individually named
directors", as described in (note 7) to the Audited Consolidated
Financial Statements year ended December 31st, 2012. (See below).
The Corporation and its legal representative Lancaster Brooks and Welsh
(LBW) were successful in having the Counterclaim by ("Bearance") and
his company ("Synergic") against the Corporation and the individually
named Directors dismissed. The Divisional Court found palpable and
overriding errors made by the original motions and on June 12, 2013
dismissed the case.
The Corporation would like to thank LBW for their services during this
process and are pleased that the counterclaim has been dismissed
allowing the Corporation to close this file.
Consolidated Financial Statements year ended 2012
7. Contingencies and Commitments
(i) The Company and certain former Directors of the Company were
originally sued by a distributor Paul Bearance ("Bearance") and his
company Synergic Distribution Inc. ("Synergic") in a Small Claims Court
action in Ontario, pertaining to the sale of a Jetstar™ hydrogen
generator. The Small Claims Court action was ultimately dismissed
administratively as a result of Bearance's failure to comply with two
court orders that directed him to particularize the pleadings of
fraudulent misrepresentation and to serve all documents on which he
intended to rely to defendants' counsel by a stipulated date. Before
the order of dismissal was made, the Company and the same individuals
who had been named as defendants in the Small Claims Court action
commenced a separate action as plaintiffs in the Ontario Superior Court
of Justice for defamation and intentional interference with economic
interests. Among other things, the plaintiffs claim:
a) general and aggravated damages for defamation in the amount of
b) general and aggravated damages for wrongful interference with economic
relations in the amount of $1,000,000;
c) general and aggravated damages for injuries falsehood in the amount of
d) aggravated, punitive and exemplary damages in the amount of $500,000.
The claim is based, at least in part, on Bearance's admission in the
Small Claims Court proceeding that he had contacted third parties and
encouraged them not to do business with the Company and its directors.
Bearance and Synergic have defended the action by way of a defence and
counterclaim wherein they seek, among other things:
a) general damages for fraudulent or negligent misrepresentation in the
amount of $195,000;
b) ages for breach of contract and breach of fiduciary duties in the amount
c) aggravated and punitive damages for $2,000,000
About DynaCERT Inc.
DynaCERT Inc. is a Toronto, Ontario based energy sector company engaged
in the manufacture, distribution, installation and marketing of a
transportable hydrogen generator retrofit targeted for use in the heavy
tractor trailer industry. Its flagship product, Hydragen®, is a
patent-pending aftermarket retrofit solution that provides combustion
enhancement by mixing hydrogen and oxygen into a vehicle's intake air
to provide the engine with a more complete burn of the fuel in its
internal combustion engine. Its business was founded in 2001 and more
information about its products can be viewed at its website 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. The Company disclaims any
intention or obligation to update or revise any forward looking
statements, whether as a result of new information, future events or
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: dynaCERT Inc.
For further information:
Phone: 1 416 766 9691