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FINWIRES

dynaCERT to Raise up to $5 Million Through Non-Brokered Private Placement Financing

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dynaCERT (DYA.TO) Thursday announced a non-brokered offering to raise up to $5 million.

The company is offering convertible unsecured units at a price of $1 million each. Each unit will consist of a convertible note with a principal amount of $1 million, bearing interest at an annual rate of 6% and maturing two years from the date of issuance. The note will be convertible, at the holder's option and in whole or in part, into approximately 6.7-million company shares at a conversion price of $0.15 per share. Each unit will also include approximately 3.3-million warrants.

Each warrant will entitle the holder to buy a share at an exercise price of $0.20 per share for a period of two years.

If the offering is fully subscribed, the convertible notes will be convertible into an aggregate of around 33.3-million shares and around 16.7-million warrants will be issued, said the company.

Gross proceeds will be used to finance sales of the company's HydraGEN Technology Products to participants in the mining, oil & gas, transportation, construction, port handling and stationary generator sectors on a global basis, for working capital and for general corporate purposes, added the company.

Closing of the offering is subject to completion of formal documentation and receipt of all necessary regulatory approvals.

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