Non-brokered deal offers 15 million units to finance working capital
By Devika Patel
Knoxville, Tenn., Oct. 2 – dynaCERT Inc. said it raised C$357,965 in the first tranche of a C$1.5 million non-brokered private placement of units.
The company is selling 15 million units of one common share and one half-share warrant at C$0.10 per unit. It sold 3,579,648 units in the initial tranche.
Each whole warrant is exercisable at C$0.15 for two years. The strike price reflects a 150% premium to the Oct. 1 closing share price of C$0.06.
Proceeds will be used for working.
The Toronto company makes and distributes a transportable hydrogen generator targeted for use in the heavy tractor-trailer industry.
| Issuer: | dynaCERT Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement date: | Oct. 2 (for C$357,965)
|
| Stock symbol: | TSX Venture: DYA
|
| Stock price: | C$0.06 at close Oct. 1
|
| Market capitalization: | C$8.86 million
|
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