TORONTO, ON--(Marketwired - September 29, 2016) - dynaCERT Inc. (TSX VENTURE: DYA) (OTC: DYFSF) ("dynaCERT" or the "Company") is pleased to announce that certain major shareholders including directors of the company have entered into a formal strategic Voluntary Lock-Up Agreement for a total of over 55,000,000 shares for a term of 180 days.
The Voluntary Lock-Up Agreement stipulates that these shareholders shall not assign, deal in, pledge, sell, trade or transfer in any manner whatsoever, or agree to do so in the future, any of the shares or any beneficial interest in them, on or before March 31, 2017 (the "Expiry Date"). This undertaking will be construed in accordance with and governed by the laws of the Province of Ontario and the laws of Canada applicable in Ontario.
dynaCERT's President and CEO, Jim Payne, states, "Given the significant progress that has been achieved in recent months, we felt a Voluntary Lock-Up Agreement would demonstrate to shareholders and potential investors the commitment and confidence that management, directors and certain major shareholders have in the future of dynaCERT.
Third Party Testing and Validation
As announced August 25th, 2016 an extensive schedule of third party testing was undertaken to validate and determine proper flow rates of its flagship HydraGen™ product for Class 8 trucks. These tests were completed at the University Of Ontario Institute Of Technology; a facility deemed an "Automotive Centre of Excellence" for both fuel savings and Carbon Emission Reductions. Two different Class 8 trucks with HydraGen™ units were placed on a Chassis dynamometer which produced extensive readings for various emissions and fuel efficacy. These tests provided over 550 pages of valuable data.
The Company, along with third party engineers, have now completed reviewing and analyzing the data and a formal report is forthcoming.
On October 1, 2016, dynaCERT will take possession of the newly built out approximately 8,000 square foot expansion. This expansion is designed for a monthly capacity of 2,000 units per eight-hour shift for the assembly of the HydraGen™ units.
dynaCERT also announces that on September 1, 2016 it has granted an aggregate of 750,000 stock options under the Company's Stock Option Plan. Of the total stock options granted, 500,000 stock options were granted to the newly appointed COO Mr. David Bridge. Options vest immediately and entitles the holder to purchase one common share of the Corporation at an exercise price of $ 0.10 each, on or before September 1, 2021.
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.
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On Behalf of the Board
Murray James Payne, CEO