SOURCE: ALGAE DYNAMICS CORP

Algae Dynamics Corp

May 11, 2017 09:00 ET

Algae Dynamics Corp Announces Engagement of Atlanta-Based Broker Dealer Carter, Terry & Company

TORONTO, ON--(Marketwired - May 11, 2017) - ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the "Company" or "ADC"), a company focused on the development of unique health products and pharmaceuticals utilizing cannabis, hemp and algae oils, today announced that it has engaged the services of Carter, Terry & Company ("Carter Terry"), an Atlanta-based broker dealer, as financial advisor and placement agent to assist with raising capital for the Company. The capital is intended to fund the Company's continuing general operations.

Under the terms of the engagement, Carter Terry will use its best efforts to assist the Company in one or more capital raises. The engagement also covers a full array of investment banking services including mergers, acquisitions, and sales of assets.

Paul Ramsay, Chairman and President of Algae Dynamics, said, "We are very excited to announce the appointment of Carter Terry as our financial advisor and placement agent as we expect it will allow us to fully execute on our business plan, including the funding of our research programs with the University of Waterloo and University of Western Ontario. Importantly, we expect to have the working capital we need for product development and marketing, which we believe will lead to revenues and future growth."

About Carter Terry
Carter, Terry & Company is a full-service investment brokerage, investment banking, asset management, and banking services firm. Founded in 1985 and headquartered in Atlanta, Georgia, the firm has had a consistent pattern of dynamic growth through the leadership of Timothy J. Terry, President and CEO, and Belfield H. Carter, Jr., Chairman. Since its inception, Carter, Terry & Company has grown to become one of the largest independent firms in Atlanta to serve clients throughout the country. The firm is a member of the Financial Industry Regulatory Authority, the Securities Industry Association, and the Securities Investor Protection Corporation.

About Algae Dynamics
Algae Dynamics is engaged in the development of unique health products and pharmaceuticals that utilize hemp, cannabis and algae oils. To assist us, we have engaged two Canadian universities to provide research, focusing on the use of cannabis oil in the context of cancer, and the use of cannabis derivatives for the development of novel pharmacotherapies for mental health. We intend to utilize this research to develop products that combine the significant health benefits of Omega-3 fatty acids derived from algae oil with extracts from cannabis oil, for the rapidly-growing medical and non-medical markets in Canada and globally. We have developed strategic relationships with licensed producers of cannabis to ensure a source of cannabis oil, as well as a joint venture to test, formulate, manufacture and sell products under the current and/or future medical and recreational cannabis regulations. Our product development efforts are designed in the near-term for over-the-counter nutraceuticals, and in the longer-term for patented medicines. Our recent initiatives are an extension of our previous plan which was focused solely on commercialization of our proprietary BioSilo® algae cultivation system for the high volume, low cost production of pure contaminant-free algae biomass which is high in Omega-3 fatty acids. 

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" as that term is defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, use of proceeds and the development, costs and results of current or future actions and opportunities in the sector. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies, our ability to raise the additional funding we will need to continue to pursue our exploration and development program, and our ability to retain important members of our management team and attract other qualified personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • FOR MORE INFORMATION, VISIT OUR WEBSITE AT www.algaedynamics.com

    OR CONTACT:
    Investor Relations:
    Jack Eversull
    President
    The Eversull Group, Inc.
    Email Contact
    972-571-1624