TORONTO, ON--(Marketwired - March 28, 2017) - dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) ("dynaCERT" or the "Company") is pleased to update the market regarding recent material developments.
The Company is pleased to announce that it has received new purchase orders for over 430 HydraGEN™ units exceeding $2.7 million in sales. Purchase orders for the year-to-date for the HydraGEN™ exceed 700 units, resulting in total gross sales of over $4.5 million.
Jim Payne, President and CEO of dynaCERT, states, "As purchase orders are received and the HydraGEN™ units are being shipped, our corporate growth is being recognized in the marketplace. Many of these shipped units were acquired by companies that have large trucking fleets for installation on their trucks."
New Product Developments
At the Annual General and Special Meeting of Shareholders ("AGM") held on March 24, 2017 in Toronto, the Company unveiled a 3-D image of a new product prototype, the HG-2 (HydraGEN™2 or HG-2), which is being specifically developed to target a new market space, being the refrigerated container (reefer) market. In connection with this initiative, the Company also introduced Domenic Marci, General Manager, Loblaw Transport, Ontario, who was present at the AGM. Loblaw has initiated installations of units on four of their class 8 trucks in order to perform their own independent controlled test and have also delivered one of their refrigerated trailers for the development and testing of the Company's new HG-2 unit. It is expected that the new HG-2 unit will be less than half of the size of our current HG-1 unit, which the Company hopes will allow it to service not only the reefer market, but the smaller size could potentially open other markets, such as class 6 & 7 trucks, buses and smaller trucks commonly found outside of North America, such as in European countries and in India.
In addition to the foregoing, the Company is also pleased to announce the release of its new smartphone app, which allows end users to access their information from the smart ECU of their equipment on their smart phones. This app is now available for download at the Apple App Store.
Annual Meeting of Shareholders
In addition to the foregoing, all general and special resolutions were passed at the AGM. An aggregate of 52,053,837 shares (22.57%) of all issued and outstanding shares of the Company were represented at the meeting in person or by proxy. The following seven nominees were re-elected as Directors of the Company to serve until the next annual meeting of shareholders of the Company, or until their successors are elected or appointed: James Payne, Elliot Strashin, Wayne Hoffman, Robert Maier, Ronald Perry, Jean-Pierre Colin and Richard Lu.
The following additional resolutions were also passed at the AGM:
- Approval of the appointment of SLF Schwartz Levitsky Feldman LLP as Auditors of the Company for the ensuing year and;
- Approval of the stock option plan of the Corporation.
dynaCERT has granted a total of 300,000 stock options to the Chief Financial Officer. The options shall vest immediately and shall be exercisable at a price of $0.94, equal to the most recent closing price of the Company's common shares, for a period of five years.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. Our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these additives through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications. More information can be found at www.dynaCERT.com.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to periodic updates of results, testing programs and results, negotiations with third parties concerning potential business transactions, and the timing of certain going forward projects. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is 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 anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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.
On Behalf of the Board
Murray James Payne, CEO