dynaCERT closes $5M private placement of convertible units

dynaCERT Inc. (TSX: DYA) (OTCQB: DYFSF) (FRA: DMJ) has closed a non-brokered private placement of convertible unsecured units, raising $5,000,000 in aggregate gross proceeds, according to a press release from the Toronto-based company.

The offering consisted of five convertible units, each comprising a $1,000,000 convertible note bearing 6% annualized interest and maturing in two years. Each note is convertible at the holder's option into 6,666,667 common shares at a conversion price of $0.15 per share. In total, the convertible notes are convertible into 33,333,333 shares.

Each unit also included 3,333,333 common share purchase warrants, for a total of 16,666,667 warrants issued. Each warrant entitles the holder to purchase one common share at $0.20 per share for a period of two years.

The securities are subject to a hold period of four months plus one day, expiring October 25, 2026. No commissions or finders' fees were paid in connection with the offering.

The company stated that proceeds will be used to finance sales of its HydraGEN™ Technology Products across the mining, oil and gas, transportation, construction, port handling, and stationary generator sectors, as well as for working capital and general corporate purposes.

The offering was made to purchasers in Canadian provinces under private placement exemptions and in offshore jurisdictions under applicable prospectus or registration exemptions. The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States.

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