dynaCERT TSX.V-DYA announced that Michael Christodoulou, the former President of Cummins Eastern Canada LP and Cummins Diesel of Canada, is joining the Advisory Board as a Business/Marketing Advisor.
Mr. Christodoulou has over 30 years of extensive experience and vast knowledge working with major North American trucking companies. He held the position of President and Principal of Cummins Eastern Canada LP for 15 years, Executive Director of PACCAR Business, Cummins Inc. and was President of Cummins Diesel of Canada for over seven years. Mr. Christodoulou has a superior track record within the trucking industry and has developed excellent industry affiliations with global transportation companies and all the major truck OEM’s.
Mr. Christodoulou was formerly on the Global Distributor Advisory Council for Cummins Power Generation, was the Chairman of the Canadian Association of Equipment Distributors, and the VP and Board Member of the Associated Equipment Dealers. He is a Member of the Canadian Trucking Alliance, and has been a member of the Ontario, Quebec and the Atlantic Provinces Trucking Associations. Mr. Christodoulou is a former member of Cummins Distribution Council and was the Co-Chair of Cummins Bus Council.
dynaCERT announces the receipt of $1 million from Mr. Christodoulou as a strategic partner in the business. This funding was a private placement of 1,176,471 units at a price of $0.85 per unit. Each unit is comprised of one 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 $1.25 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 $2.00 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.