dynaCERT (TSX.V-DYA) (OTCQB:DYFSF) announces that Marc Bertrand, the former President & CEO of MEGA Brands (MEGA), is joining the Company’s Advisory Board.
Mr. Bertrand is a seasoned consumer products executive with nearly three decades of success in brand building, strategic licensing, international markets and manufacturing. MEGA was recognized worldwide for innovation, operational excellence, product quality and delivering value to consumers. Mr. Bertrand implemented growth through International expansion with sales teams in Europe, Latin America and Asia and distribution in over 100 countries. In addition, Mr. Bertrand has actively participated in numerous complex financial transactions.
Marc Bertrand states, “dynaCERT has an exciting new technology that has proven results for fuel efficiency and, with the significant reductions in greenhouse gases, will be a leader in the new carbon economy.”
dynaCERT also announces that it has amended the terms and increased the maximum amount of the private placement that was previously announced on June 8, 2017 from $1,000,000 to $3,000,000. The Company expects to close the private placement within the next week. Each unit will be issued at $0.70 and will be comprised of one common share (“Common Share”) in the capital of the Company and one-half of one Common Share purchase warrant, with each whole warrant being exercisable into one Common Share at a price of $1.00 for a two-year period from the date of issuance. The warrants include an acceleration clause to the effect that if at any time after four months and one day following the issuance of the warrants, the closing trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than $1.75 per Common Share for a period of ten consecutive trading days, then dynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire.
Mr. Bertrand will be purchasing 334,000 units, Mr. Bertrand’s father (Victor, the founder of MEGA) will be purchasing 666,000 units and Mr. Bertrand’s brother, Vic, will be purchasing 285,000 units bringing their respective holdings to 1,234,000 Common Shares, 1,332,000 Common Shares and 345,000 Common Shares.
All of the securities to be issued under the private placement will be subject to a four-month resale restriction. The proposed private placement is subject to receipt of all necessary regulatory approvals including the final approval of the Exchange. The Exchange has granted the Company an extension of up to 30 days to complete the private placement.
The Company intends to use the net proceeds of this private placement for research and development and general working capital purposes.
Jim Payne, President & CEO of dynaCERT, states, “It is with great pleasure that we welcome Mr. Bertrand to the dynaCERT Advisory Board. Mr. Bertrand brings vast knowledge in manufacturing, international markets and building brands. We are very excited that the Bertrand Family have renewed their support by increasing their shareholdings of the Company and to have access to their extensive network of industry and financial contacts. Their knowledge and experience will be of great benefit to dynaCERT as we grow both in North America and around the world.”