dynaCERT Provides Operational Update and Announces Extension to
Non-Brokered Private Placement
TORONTO, ONTARIO--(Marketwired - Jun 20, 2014) -
dynaCERT Inc. (TSX-VENTURE:DYA) ("dynaCERT" or the
"Corporation") provides the following updates:
Testing and Data Sharing Agreements TTSI
As announced in the press release dated April 15th, 2014, the
Corporation had provided and assisted in the installation of a
HydraGen™ unit on a 2003 Peterbuilt Class 8 truck through Total
Transportation Services Inc. ("TTSI") headquartered in Rancho
Dominguez, California. After four months of on-going testing and
data collection, TTSI has satisfied itself with respect to its
analysis of fuel savings and is currently waiting for testing by an
accredited, 3rd party testing facility to validate reduced toxicity
of emissions.
Caribbean Pilot Project
dynaCERT announces that it has concluded phase 1
testing of the pilot project of the HydraGen technology with a
stationary power generator in the Caribbean.
Phase 1 objective was testing and data collection that measures
the performance characteristics of a 9R32 Wartsila generator with
the induction of hydrogen and oxygen at varying concentrations,
compared to baseline performance.
All the base line and testing data relating to fuel consumption
and engine emission profile,completed by GSA-Lab a chemical and
environmental lab based in the Dominican Republic, have now been
received and are being evaluated by dynaCERT staff and two
additional independent engineers, collectively. A full report
defining fuel and toxic gas reductions is being compiled and will
be forwarded to all related parties in the Caribbean for review.
Updates concerning next phases will be announced upon approval.
Acquisition of Technology
As announced on February 28, 2014, dynaCERT Inc.
executed a Letter of Intent to acquire ownership of the technology
that underlies its principal product, the HydraGen™. At present,
the Corporation has an exclusive unrestricted, worldwide license to
manufacture and market the Technology, in respect of which it pays
a royalty fee of 6% of the net invoice price of such product sales.
Under the LOI, the Corporation will acquire the Technology
(including all patents, patents pending, intellectual property,
etc.) for a purchase price of $750,000. The foregoing price shall
be paid out of the sales of HydraGen™ units, with 50% of the
profits from such sales being paid to the vendor and attributed to
the purchase price.
The LOI is non-binding and is subject to being superseded by a
formal purchase and sale agreement, which is expected to be
executed and closed next quarter.
Appointments to Advisory Board
dynaCERT is pleased to announce the appointments of
Dean Ross and Gerald Solensky Sr to its Advisory Board.
Mr. Ross is a retired Mechanical Engineer (University of
Toronto) with 30+ year experience as Project Manager and Manager of
mechanical engineering, mining and metallurgical consultants. Mr.
Ross brings years of experience working with large diesel
generators throughout northern Canada to optimize both fuel
efficiencies and toxic gas reductions, as well as serving as
Chairman of Hope Township LLRW ad hoc Committee and in the Hope
Township Environmental Advisory Committee.
Mr. Solensky has been a professional engineer in structural
mechanics, mechanical engineering and strategic
planning/development of R&D programs for almost 40 years. Over
that period of time, he has been intimately involved in a wide
range of manufacturing programs, including but not limited to
projects in the automotive sector. More specifically, he has been
involved in such R&D programs as the Stealth Program for
Northrop Technologies.
James Payne, CEO, gives a warm welcome to these gentlemen, their
years of experience and expertise that they bring to our growing
team of collective intelligence.
Private Placement Extension
dynaCERT also announces that the TSX Venture Exchange
is granting the Corporation an extension until July 17, 2014 to
close its previously announced non-brokered Private Placement (the
"Offering") of up to 5,000,000 units (each, a "Unit") at price of
$0.10 per Unit, for aggregate gross proceeds of up to $500,000. The
proceeds of the Offering will be used for research and development,
retirement of outstanding liabilities and for general working
capital purposes.
Each Unit will be comprised of one common share in the capital
of the Corporation and one-half of one common share purchase
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 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 Cdn $0.30 per Common Share for a period of ten
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.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs
Carbon Emission Reduction Technology for use with internal
combustion engines. This 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. This
technology is currently in use with on-road applications. More
information can be found at 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 the
negotiation of a formal purchase and sale agreement in connection
with the acquisition of the Technology and upcoming phases of the
Caribbean Pilot Project. 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
dynaCERT Inc.James PaynePresident and CEO(416)
766-9691jpayne@dynacert.comdynaCERT Inc.Investor
Relationsir@dynacert.comwww.dynacert.com
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