There were 301 press releases posted in the last 24 hours and 170,840 in the last 365 days.

dynaCERT Appoints Shmuel Farhi to the Advisory Board and Closes Private Placement

TORONTO, Aug. 03, 2017 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) ("dynaCERT" or the "Company") is pleased to announce that Shmuel Farhi, real estate businessman, is joining the Company’s Advisory Board.

Mr. Farhi completed his business degree at Technion (Israel Institute of Technology) in Tel Aviv and joined his father’s insurance company before seeking opportunities of his own in North America.  In 1988, Mr. Farhi founded Farhi Holdings Corporation and owns and manages more than four million square feet across Ontario.  He is known as a consummate dealmaker and a passionate supporter of downtown revitalization and heritage preservation.

A Farhi family member has subscribed for one million units in the current private placement, representing an investment of $700,000. The Farhi family currently holds over 10 million shares of dynaCERT.

Shmuel Farhi stated, "I’m very excited and optimistic about the present and future outlook of dynaCERT. I have great confidence in the management team and believe that dynaCERT’s carbon emission reduction technologies will play a positive role in the energy sector on a global scale.”

Jim Payne, President & CEO of dynaCERT, states, “We are pleased to enhance the Advisory Board with the addition of Shmuel Farhi. The Farhi family have been long time shareholders of dynaCERT and are demonstrating their further commitment by increasing their investment in the current offering. As a successful businessman and entrepreneur, Mr. Farhi’s knowledge and connections within the business community will be invaluable to the Company.”

dynaCERT Announces Closing of Private Placement

The Company also announces that it has raised gross proceeds of $3,000,000 of the non-brokered private placement previously announced on July 28, 2017, and has issued 4,285,712 Units at $0.70 per Unit.  Each Unit consists of one common share and one-half common share purchase warrant.  Each whole warrant is exercisable at $1.00 for a period of twenty-four months from closing.  The warrants include an acceleration clause to the effect that if at any time after four months and one 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 $1.75 per common share for a period of ten consecutive trading days, then dynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire. 

Finder’s fees payable in connection with the closing consist of a cash payment equal to 7% of cash raised and a number of finder's fee warrants that is equal to 7% of the number of warrants issued pursuant to certain orders in the private placement, for a total of $22,890 and 16,350 finder's fee warrants.  Each finder’s fee warrant is exercisable to acquire a common share at a price of $1.00 for a period of twenty-four months from closing.

All of the securities issued under the private placement are subject to a four month resale restriction.  The private placement is subject to receipt of all necessary regulatory approvals including the final approval of the Exchange.

Proceeds from the private placement will fund working capital purposes and research and development.

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.  Website:  www.dynaCERT.com.

READER ADVISORY
Except 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, statements with respect to the proposed use of proceeds from the private placement.  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, CEO

For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
jpayne@dynaCERT.com 

Investor Relations
dynaCERT Inc.
Nancy Massicotte
(416) 766-9691 x 1
ir@dynaCERT.com

/EIN News/ -- Primary Logo

Distribution channels: Banking, Finance & Investment, Technology