TMCnet News
dynaCERT Announces Extension of Equity Private PlacementTORONTO, March 20, 2018 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ) ("dynaCERT" or the "Company") is pleased to report that its previously announced non-brokered equity private placement of units at a price of $0.42 per unit for aggregate gross proceeds of up to $3,000,000 (the “Financing”) is ongoing. The first tranche of this Financing was previously completed, with 2,894,762 units having been issued on February 22, 2018 for gross proceeds of $1,215,800. Each unit offered under the Financing 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. The Financing is expected to be completed in one or more additional tranches. 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 are to be issued in connection with the Financing will be subject to statutory four-month hold periods. About dynaCERT Inc. READER ADVISORY 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 Jim Payne, CEO & President Investor Relations
|