DynaCERT closes $2-million private placement

Executive Summary

• DynaCERT Inc. has closed a non-brokered private placement offering, raising aggregate gross proceeds of $2 million.
• The company issued convertible unsecured units, each consisting of a convertible note and common share purchase warrants, with specific conversion and exercise prices defined.
• Proceeds are designated for financing sales of HydraGEN technology products across mining, oil and gas, transportation, and generator sectors, as well as for working capital and general corporate purposes.

Key Details

• Gross Proceeds: $2,000,000.
• Instrument Structure: One convertible unit per investment, comprising:
  • Convertible Note: Bear an annualized interest of 5%, maturing on the two-year anniversary of issuance.
  • Conversion Terms: Convertible at the holder's option into 13,333,333 common shares per unit, representing a conversion price of $0.15 per share.
  • Warrants: 6,666,667 common share purchase warrants per unit.
  • Warrant Terms: Entitle the holder to purchase one share at an exercise price of $0.20 per share for a period of two years.
• Use of Proceeds: Financing sales of HydraGEN technology products to participants in the mining, oil and gas, transportation, and generator sectors globally; working capital; and general corporate purposes.
• Hold Period: Convertible notes, warrants, and resulting shares are subject to a statutory hold period of four months plus one day, expiring on April 10, 2026.
• Fees: No commissions or finders' fees were paid in respect of the offering.

Notable Quotes

• No direct quotes from management were included in the provided text.