Dynamic Fuel Systems Inc.

December 01, 2009 14:31 ET

Dynamic Announces Continuation of Unit Offering

PICKERING, ONTARIO--(Marketwire - Dec. 1, 2009) -

Dynamic Fuel Systems Inc. (TSX VENTURE:DYA) ("Dynamic" or the "Corporation") announces that its previously announced offering of up to $2,000,000 of units (each a "Unit") at a price of $0.06 per Unit (as initially announced on November 9, 2009) is ongoing. To date, an aggregate of 10,000,000 units have been issued for aggregate gross proceeds of $600,000. The Corporation continues to seek additional subscribers under this offering and may close further tranches, as subscription proceeds and supporting documentation are received. Each Unit will consist of one common share of Dynamic (a "Common Share") and one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one additional Common Share at a price of $0.15 for a period of 5 years from closing. The proceeds from this offering will be used for research and development, sales and marketing and for general working capital purposes.

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.

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

Contact Information

  • Dynamic Fuel Systems Inc.
    Jerry Solensky Jr.
    (905) 831-2440
    Dynamic Fuel Systems Inc.
    890 Brock Road South
    Pickering, ON L1W 1Z9