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dynaCERT Inc. Announces Extension of Private Placement and Provides Update on Continuous Disclosure
Toronto, Ontario--(Newsfile Corp. - May 29, 2015) - dyna CERT Inc. (TSXV: DYA) (" dyna CERT" ...
About this update from Dynacert Inc.
[{"type":"text","content":"dynaCERT Inc. Announces Extension of Private Placement and Provides Update on Continuous DisclosureToronto, Ontario--(Newsfile Corp. - May 29, 2015) - dynaCERT Inc. (TSXV: DYA) (\"dynaCERT\" or the \"Corporation\") announces that it has again extended the closing of its non-brokered private placement offering (the \"Offering\"), announced on March 23, 2015. The first extension was announced on April 30th, 2015.Pursuant to the Offering, the Company will sell up to 10,000,000 units (each, a \"Unit\") at price of $0.15 per Unit. Each Unit will be comprised of one common share in the capital of the Corporation (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"), with each Warrant being exercisable into one Common Share at a price of $0.25 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$0.50 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. Net proceeds of the Offering will be used for working capital and manufacturing of the HydraGen™ units The Offering is scheduled to close on June 26, 2015 and closing of the Offering is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.The Corporation is also pleased to announce that it is filing today its 2014 Annual Audited Financial Statements, its related Management's Discussion and Analysis, and Chief Executive Officer and Chief Financial Officer certifications (collectively, the \"Required Filings\"), which were required to be filed on or before April 30, 2015.The required filings pertaining to Q1 2015 will be filed by the June 1, 2015 deadline.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 ...