Non-brokered deal funds research and development, liability retirement
By Devika Patel
Knoxville, Tenn., Dec. 12 - dynaCERT Inc. said it raised C$590,500 in the second and final tranche of a C$1.08 million non-brokered private placement of units. The deal was slated to raise up to C$3.15 million and took in C$490,500 on Oct. 11.
The company sold 6,177,143 units of one common share and one warrant at C$0.175 per unit. It sold 2,802,857 units in the initial tranche and 3,374,286 units in the second tranche.
Each warrant is exercisable at C$0.25 for two years. The strike price represents a 127.27% premium to the C$0.11 closing share price on Oct. 10.
Proceeds will be used for research and development, liability retirement, sales and marketing and general working capital purposes.
The Toronto company makes and distributes a transportable hydrogen generator targeted for use in the heavy tractortrailer industry.
| Issuer: | dynaCERT Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,081,000
|
| Units: | 6,177,143
|
| Price: | C$0.175
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Announcement date: | Oct. 11
|
| Settlement dates: | Oct. 11 (for C$490,500), Dec. 12 (for C$590,500)
|
| Stock symbol: | TSX Venture: DYA
|
| Stock price: | C$0.11 at close Oct. 10
|
| Market capitalization: | C$10.92 million
|
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