TORONTO, ON--(Marketwired - March 10, 2017) - dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) ("dynaCERT" or the "Company") is pleased to announce that certain major shareholders including directors of the company have extended the formal strategic Voluntary Lock-Up Agreement and increased the total from 55,000,000 in September 2016 to over 72,000,000 shares effective immediately. 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 July 31, 2017. 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, "The directors and major shareholders that have entered into this voluntary lock-up agreement are reconfirming their long-term commitment and confidence in dynaCERT's ability to increase shareholder value as they continue to ramp up production and sales growth."
dynaCERT announced that its Chief Financial Officer and Corporate Secretary, Yumey Fernandez, has resigned due to personal reasons effective March 3, 2017. The company has appointed Mr. Terrence MacDonald, CPA, CA, as Chief Financial Officer and Corporate Secretary effective March 8, 2017. Mr. Khoa Tran, B.A., has also joined the dynaCERT team as the Director of Finance.
"I would like to thank Ms. Fernandez, who has been an integral part of dynaCERT for more than four years, for making this transition as smooth as possible and wish her continued success in her future endeavors," says President and CEO, Jim Payne.
Mr. MacDonald, CPA, CA, is a Chartered Professional Accountant with over 30 years' experience in the financial, technology and resource sectors including major international experience in Europe and Asia, including 20 years working with Ernst & Young and KPMG. His extensive experience with public company financial reporting and regulatory compliance will be a major benefit for dynaCERT. He was previously an audit partner (with a mid-sized accounting firm) where he provided accounting, audit and transaction services to a diverse group of public companies. Mr. MacDonald also has significant experience in mergers and acquisitions, financial restructuring and strategic planning.
Mr. Tran, B.A., has over 20 years of financial reporting and accounting experience. This includes over 15 years in management positions in world class global businesses for manufacturing and service environments. He has expertise in cost accounting, financial analysis and reporting, variance analysis and government reporting. Mr. Tran was previously the Director of Finance for a mid-sized manufacturing company and Controller for various mid-sized and Fortune 500 automotive and manufacturing companies with international offices.
"Mr. MacDonald and Mr. Tran bring a wealth of experience to our company and will be very valuable as dynaCERT rapidly expands." says Jim Payne. "They are both excellent additions to our team."
This month dynaCERT has received approval from The Depository Trust Company ("DTC") of New York, NY and is now DTC eligible under the symbol DYFSF.
DTC eligibility allows dynaCERT shares to be more easily and economically transferred between brokerage accounts electronically within the United States. DTC is the largest securities depository in the world, providing clearing and settlement efficiencies for brokers, as well as various other services.
DTC eligibility simplifies trading of dynaCERT shares on the OTCQB market making them accessible to an even broader range of investors and assists in increasing the liquidity and convenience of trading shares within the U.S. dynaCERT will continue to trade on the TSX Venture stock exchange under its existing symbol DYA.
The Annual General and Special Meeting of Shareholders (AGM) will be held at 11:00 am on Friday, March 24th, 2017 at the Banquet Hall located adjacent to the dynaCERT offices at 501 Alliance Avenue. Management will be presenting our growth opportunities and business plan, including the introduction of special guest speakers. Following, there will be a tour of our research and development area and the new manufacturing facilities.
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
M.E. James Payne, CEO & President