Dynamic Fuel Systems Inc.

May 20, 2010 17:28 ET

Dynamic Announces Management Changes and Option Grants

PICKERING, ONTARIO--(Marketwire - May 20, 2010) - Dynamic Fuel Systems Inc. (TSX VENTURE:DYA) ("Dynamic" or the "Corporation") is pleased to announce the appointment of Wilf Wikkerink and David Sikkema as directors of the Corporation. These appointments fill vacancies created by the resignations of Mr. Wayne Hoffman and Sidney Harkema. Mr. Hoffman has also resigned his position as President of the Corporation. Each of Mr. Hoffman and Mr. Harkema will continue to serve the Corporation as advisors and members of the Corporation's Business Advisory Committee. Dynamic expresses its most sincere thanks and appreciation to each of these individuals for their involvement as directors and welcomes their continued support as advisors.

Wilf Wikkerink spent the first nine years of his professional career as Operations Director of Legacy Entertainment, a supplier of value priced music. Together with his business partner, he grew Legacy and eventually sold it to a music licensing company located in London, England which went public on the AIM (the London Stock Exchange's international market for smaller growing companies). In 2005, Wilf joined the Book Depot in Thorold, Ontario. The Book Depot is one of the largest book remainder dealers in North America, buying and selling publishers' returns & overstocks. Recently, Wilf was named the Chief Executive Officer of The Book Depot. He concentrates his efforts on developing relationships with publishers and expanding the business into international markets, such as Southeast Asia, Australia & the UK. Wilf resides in Jordan, Ontario with his wife and six children.

A resident of Hanford, California, David Sikkema has a diverse and successful business background spanning 20 plus years within a variety of industries in both Canada and the United States. He has been self employed as a management consultant since 1989. David Sikkema currently serves as an executive to HydroGreen LLC, Dave has served in a variety of volunteer positions, as well as leading fund raising efforts for non-profit organizations.

Dynamic also announces the grant of an aggregate of 4,300,000 options to acquire common shares in the capital of Dynamic at a price of $0.10 to certain officers, directors, consultants and employees of Dynamic. Such options (and the common shares issuable upon exercise) are exercisable for a period of 5 years from the date of grant and will be subject to applicable securities law hold periods.

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™, 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.

This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; 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; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; 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. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

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