Business
Dynamic Announces Appointment of New Director and Reports Share Transfers
Dynamic Announces Appointment of New Director and Reports Share Transfers
About this update from Dynacert Inc.
[{"type":"text","content":"Dynamic Announces Appointment of New Director and Reports Share Transfers\n\n\n\nDynamic Announces Appointment of New Director and Reports Share Transfers\n\nPickering, Ontario CANADA, May 02, 2008 /FSC/ - Dynamic Fuel Systems Inc. (DYA - TSX Venture), (\"Dynamic\" or the \"Corporation\") is pleased to announce the appointment of Mr. Sidney Harkema as a Director of the Corporation. Mr. Harkema has recently been providing invaluable service to the Corporation in his capacity as a member of the Corporation's Business Advisory Committee and has agreed to increase his commitment to the Corporation by serving as a director of the Corporation. Mr. Harkema founded and built one of Canada's largest privately owned transport and express companies (Harkema Trucking Group). He served as President and Chairman of the Board of Harkema Trucking for 27 years. He has since sold the entire trucking operation, cartage equipment and all eighteen terminals located throughout the country and has devoted his time to public service organizations.\n\nMr. Thomas Fairfull, President and Chief Executive Officer, stated that \"The Corporation is extremely fortunate to have the participation and commitment of such a seasoned veteran of the trucking industry as Mr. Harkema. We are thrilled to welcome him to the board and look forward to benefiting from his wisdom and knowledge of the ins and outs of our target marketplace.\"\n\nIn conjunction with his appointment and as an indication of his support and commitment to the Corporation, Mr. Harkema has acquired 5,000,000 common shares of the Corporation from the Corporation's principal shareholder, Mrs. Anne Fairfull, at a price of $0.20 per share. This acquisition was completed on a private sale basis in order to minimize dilution to the Corporation's shareholders. Mr. Harkema has also exercised an aggregate of 1,750,000 common share purchase warrants into common shares at a price of $0.18 per share, bringing his total shareholdings to 11,000,000, or approximately 11.7% of the issued and outstanding common shares of the Corporation. As this warrant exercise brings Mr. Harkema's total shareholdings to more than 10% of the issued and outstanding capital of the Corporation, he has filed an Early Warning Report in accordance wit...