dynaCERT Annouces Closing Of Private Placement
12 Jun, 2013, 18:38 ET
TORONTO, June 12, 2013 /CNW/ - dynaCERT Inc. (TSX -V: DYA) ("dynaCERT" or the "Corporation") today announced that it has received subscriptions for 3,087,264 units (the "Units") for an aggregate of $540,271.15 of common shares at price of $0.175 per Unit in accordance with previously filed price protection materials. Completion of this offering is subject to approval by the TSX Venture Exchange. The use of proceeds will be used for research and development, retirement of outstanding liabilities, sales and marketing and for general working capital purposes.
Each unit consists of one common share in the capital of the Corporation (a "Common Share") at a price of $0.175 per unit and one common share purchase warrant (a "Warrant"). Each warrant is exercisable into one Common Share at a price of $0.25 per unit for a two year period from the date of issuance thereof.
The warrants include an acceleration clause to the effect that if at any time after four (4) months and on the closing one (1) day following the closing of the private placement the trading price of the common shares of dynaCERT on the TSX Venture trade at $0.50 or more for ten (10) consecutive trading days, dynaCERT shall be entitled to notify 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 to exercise the warrants, failing which the warrants will automatically expire.
In accordance with applicable securities laws, the Common Shares and Warrants issued under the private placement are subject to four (4) month hold periods, which will expire September 12, 2013. Materials have been submitted to the exchange requesting final approval.
Information 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 otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
SOURCE: dynaCERT Inc.
For further information:
Phone: 1 416 766 9691
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