Dynamic Announces Presentation at 'Green' Industry Network Event, Application for Warrant Term Extension
Pickering, Ontario CANADA, March 24, 2009 /FSC/ - Dynamic Fuel Systems Inc. (DYA - TSX Venture), is pleased to announce its participation as a feature company at the upcoming 'Green' Industry Network Event, sponsored by Toronto Greenhouse and FronTier Consulting, which is being held at The Steam Whistle Brewery, 255 Bremner Blvd., Toronto, Ontario from 6 - 10 p.m. on March 31, 2009. The Corporation also announces that it has made application to the TSX Venture Exchange (the "Exchange") to extend the term of all outstanding share purchase warrants (the "Warrants") from two (2) years to five (5) years in accordance with Exchange policies and that Cronus Capital Markets ("CCM") is no longer serving in the strategic consulting role to the Corporation that was previously announced on July 24, 2008.
Toronto Greenhouse is a business forum for the "Green" sector, which holds gatherings on the last Tuesday of every month, where environmentally focused companies and investors meet to mingle, make new connections and do deals. The event on March 31 is the launch event for this forum and will include speakers from the "Green" business community, along with displays of the latest environmentally friendly technology, products, services and supporting organizations. Dynamic is one of only four selected "Green" companies that will be provided an opportunity to address the forum. Anticipated attendees include "Green" entrepreneurs, business owners, senior management, "angel" investors, venture capitalists, private investors, investment funds representatives, lenders, business/intellectual property lawyers, consultants, industry association representatives, other "green" business people and friends of the environment. Web, print and televised media personnel are also expected to be in attendance.
The Warrants that are the subject of the extension application consist of the following:
* 7,456,100 Warrants with an exercise price of $0.15 per Warrant issued in connection with the Corporation's private placement that closed April 20, 2007 (the "April 2007 Warrants"). The April 2007 Warrants are set to expire on April 20, 2009; application has been made to extend the expiry date until April 20, 2012.
* 2,415,000 Warrants with an exercise price of $0.25 per Warrant issued in connection with the Corporation's private placement closing of May 11, 2007 (the "May 11, 2007 Warrants") and 2,031,285 Warrants with an exercise price of $0.25 per Warrant issued in connection with the Corporation's private placement closing of May 28, 2007 (the "May 28, 2007 Warrants"). The May 11, 2007 Warrants and the May 28, 2007 Warrants are set to expire on May 11, 2009 and May 28, 2009 respectively; application has been made to extend the expiry date until May 11, 2012 and May 28, 2012 respectively.
* 5,573,250 Warrants with an exercise price of $1.50 per Warrant issued in connection with the Corporation's private placement that closed August 17, 2007 (the "August 2007 Warrants"). The August 2007 Warrants are set to expire on August 17, 2009; application has been made to extend the expiry date until August 17, 2012.
* 7,930,000 Warrants with an exercise price of $1.50 per Warrant issued in connection with the Corporation's private placement that closed October 17, 2008 (the "October 2008 Warrants"). The October 2008 Warrants are set to expire on October 17, 2010; application has been made to extend the expiry date until October 17, 2013.
About Dynamic Fuel Systems Inc.
Dynamic Fuel Systems Inc. is a Pickering, Ontario based energy sector company engaged in the manufacture, distribution, installation and marketing of a transportable hydrogen generator retrofit targeted for use in the heavy tractor trailer industry. Its flagship product, the Jetstar(tm), is a patent-pending aftermarket retrofit solution that provides combustion enhancement by mixing hydrogen and oxygen into a vehicle's intake air to provide the engine with a more complete burn of the fuel in its internal combustion engine. Its business was founded in 2001 and more information about its products can be viewed at its website at www.dynamicfuel.com
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: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; 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; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; 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. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Jerry Solensky Jr.
President and CEO
Dynamic Fuel Systems Inc.
890 Brock Road South
Pickering, ON L1W 1Z9
905-831-2440
www.dynamicfuel.com
Source: Dynamic Fuel Systems Inc. (TSX-V: DYA) http://www.dynamicfuel.com
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