Mr. Murray Payne reports
DYNACERT GIVES NOTICE OF ACCELERATION OF EXPIRY DATE TO HOLDERS OF RE-PRICED WARRANTS
DynaCERT Inc. is sending notices today to all of the holders of outstanding share purchase warrants that were repriced in accordance with TSX Venture Exchange approvals in February, 2019 (see the company's press release dated Feb. 4, 2019), of which an aggregate of 7,186,770 warrants remain outstanding. The repriced warrants all have an exercise price of 35 cents and an expiry date of Dec. 1, 2020, subject to acceleration if the closing price of the company's common shares on the TSX-V is above 50 cents for 10 consecutive trading days, which has occurred. Repriced warrants held by non-insiders (a total of 6,924,865 warrants) are accelerated to a date that is 30 days from today's notice, while repriced warrants held by insiders (a total of 261,905 warrants) are accelerated to a date that is 10 days from notice in accordance with TSX-V requirements. Pursuant to the aforementioned notices, holders of the repriced warrants have until 5 p.m. Toronto time on Dec. 9, 2019 (in the case of non-insiders; Nov. 18, 2019, in the case of insiders), to exercise their repriced warrants, after which dates and times such warrants will have expired.
There are currently an aggregate of 28,331,039 warrants remaining outstanding and not yet exercised, including the repriced warrants. Other than the repriced warrants, there are, therefore, 21,144,269 warrants remaining outstanding that have not been repriced from their original exercise price. The non-repriced warrants all have an exercise price of 35 cents and an expiry date of Dec. 1, 2020, subject to a 30-day acceleration clause, except for 16,349 broker warrants, which have an exercise price of $1 and expire Dec. 1, 2020. The acceleration clause of such non-repriced warrants provides that, in the event that the closing trading price of the company's common shares on the TSX-V is greater than 50 cents for 10 consecutive trading days, the company may provide notice to the holders of the non-repriced warrants of the acceleration of the expiry time of such warrants to the date that is 30 days after the deemed delivery of such notice. While the condition to the provision of a 30-day notice of acceleration of the expiry date of such non-repriced warrants has been satisfied, the company has not delivered any such notice and has not made any decision to do so, but retains the right to do so at a future date.
About DynaCERT Inc.
DynaCERT manufactures and distributes carbon-emission-reduction technology for use with internal combustion engines. As part of the growing global hydrogen economy, DynaCERT's patented technology creates hydrogen and oxygen on demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Its technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels, and railroad locomotives.
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