DynaCERT (DYA-V) Announces Oversubscription and Closing of Non-Brokered PP
Dec 31, '15 - NR
DynaCERT Inc. is pleased to announce that its previously announced non-brokered private placement (the "Offering") has closed oversubscribed. The Corporation has issued 15,491,049 units (each, a "Unit") at price of $0.10 per Unit for aggregate gross proceeds of up to $1,549,105. Each Unit is 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, including proceeds of oversubscription of $49,105 will be used for working capital.
Closing of the Offering is subject to receipt of approval from the Exchange and all securities issued are subject to a four-month and one day statutory hold period.
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.
On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne
CEO & President
dynaCERT Inc.
(416) 766-9691x 602
jpayne@dynacert.com
Investor Relations
dynaCERT Inc.
ir@dynacert.com |
