dynaCERT Closes Upsized $8,367,400 Overnight Marketed Equity Financing

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TORONTO, June 18, 2020 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that it has closed its previously announced overnight marketed offering, including the exercise in full of the underwriters’ over-allotment option (the “Offering”) (see Press Release dated June 3, 2020). In connection with the Offering, the Company issued 12,305,000 units of the Company (the “Units”) at a price per Unit of $0.68 for gross proceeds of $8,367,400. Eight Capital and PI Financial Corp. acted as co-lead underwriters, including a syndicate of Haywood Securities Inc., Industrial Alliance Securities Inc. and Stifel GMP (collectively, the “Underwriters”) in the Offering.

Each Unit comprises one common share in the capital of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire an additional Common Share at an exercise price of $1.00 for a period of 24 months following the closing of the Offering.

The Company intends to use the net proceeds of the Offering to finance raw materials and manufacturing and assembly costs in order to create and deliver finished goods inventory for the KarbonKleen Inc. subscription program (see Press Release dated May 11, 2020) and any other subscription programs and product sales, as well as for working capital and general corporate purposes.

Jim Payne, dynaCERT’s President, CEO & Director, stated, “This prospectus financing is a major milestone in our company’s growth. We are extremely pleased with the fact that we attracted not one, but a syndicate of five (5) major firms in the Canadian financial community to participate in our first brokered, prospectus which was an “over-subscribed, over-night-marketed-equity-financing.” These firms were successful in attracting many institutional groups that have added dynaCERT as a significant Canadian “ESG” investment within their portfolios. Moreover, this financing is the most significant hurdle to meeting the requirement as set out in the Conditional Approval to graduate to the Toronto Stock Exchange which was announced on May 14^th, 2020.