dynaCERT Inc. Provides Corporate Updates
25 Settembre 2013 - 5:38PM
Marketwired Canada
dynaCERT Inc. (TSX VENTURE:DYA) ("dynaCERT" or the "Corporation") provides an
update on various previous news releases as part of its Continuous Disclosure
Policy.
On June 28, 2012, the Corporation announced the signing of a Master Distributor
Memorandum of Understanding ("Range Gen MOU") with Range Gen LLC ("Range Gen")
of Sterling Heights, Michigan, together with the receipt of a purchase order for
500 units. An initial delivery under this purchase order was made in July 2012,
at which time dynaCERT delivered a total of 12 HydraGen(TM) units to Range Gen
in accordance with the purchase order. While such units were in the course of
delivery, 4 units were diverted for delivery to another customer. Shortly
thereafter a dispute occurred between the principals of Range Gen and various
third parties, which resulted in legal action being commenced in August 2012
among Range Gen and such third parties whereby Range Gen sought to defend its
business interests and Intellectual Property. dynaCERT was not party or named in
any legal action but was advised that until the matter could be resolved there
should be no changes or public disclosure made in order to reduce the potential
risk of the Corporation being brought into the legal action involving Range Gen.
Accordingly, no further deliveries were made under the purchase order and the
purchase order was subsequently cancelled. Communications have continued between
both Range Gen and dynaCERT . Since June 2012 and on September 23, 2013 dynaCERT
INC and Range Gen LLC signed an Agency/Consulting Agreement, pursuant to which
Range Gen has been appointed as one of dynaCERT's non-exclusive agents to
represent the HydraGen(TM) technology to its customer base. The foregoing
agreement is for a term of three (3) years (renewable for an additional three
(3) years thereafter) and appoints Range Gen LLC as a non-exclusive selling
agent of dynaCERT, which enables Range Gen to represent dynaCERT's products,
purchase wholesale products, obtain volume discounts, etc. The Agency/Consulting
Agreement is non-exclusive, however Range Gen may identify named customers from
time to time, in respect of which it shall have exclusive negotiating rights for
a period of six months following acceptance by dynaCERT.
On June 28, 2012, the Corporation also announced that negotiations pertaining to
a non-exclusive Master Distributor Agreement with Contractor's Tank Inc. of
California had culminated in the signing of a Memorandum of Understanding
("Contractor's Tank MOU"). The Contractor's Tank MOU contemplated a series of
steps, none of which transpired. The Contractor's Tank MOU has therefore expired
and the Corporation has no intention of entering into any future dealings on
this matter.
On January 25, 2013, dynaCERT announced that it had received an order for
delivery of 10 HydraGen(TM) units to East West Fuel Strategies ("EWFS") in
connection with EWFS's proposed sale of such units in Ontario, Canada and
Southeast Asia. An initial delivery of five units was made shortly after receipt
of that order; however no additional units have been delivered. Shortly after
delivery, EWFS installed one of the units on a gravel truck in Brampton, Ontario
and determined that the results were inconclusive. EWFS communicated these
findings to the Corporation and in August 2013, EWFS returned the five
previously delivered units to dynaCERT and the Corporation has given a refund of
total monies paid for the previously delivered units. Moving forward, EWFS has
expressed a desire to continue discussions with a view towards renewing its
relationship with the Corporation, however no agreements are currently in place,
nor has the Corporation received an order for delivery of any further units.
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.
Forward Looking Information
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: 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
dynaCERT Inc.
Jonathon Shepherd
General Manager
(416) 766-9691 x 605
jshepherd@dynacert.com
dynaCERT Inc.
Investor Relations
ir@dynacert.com
www.dynacert.com
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