dynaCERT Inc. announced a non-brokered private placement of up to 40,000,000 units at a price of CAD 0.15 per unit for gross proceeds of CAD 6,000,000 on October 16, 2023. Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant is exercisable into one common share at an exercise price of CAD 0.20 per warrant at any time for a period commencing upon the closing of the transaction for a period of thirty-six months thereafter.

The closing date will occur on or about October 31, 2023, or such date as determined by the company in consultation with its financial advisor. If at any time after the date that is four months and one day after the closing date, the closing trading price of the common shares on the Toronto Stock Exchange is greater than CAD 0.35 per common share for a period of ten consecutive business days, then the company may give notice thereof to the holders of the warrants, and, in such case, the expiry time of the warrants shall be accelerated and shall be the 30th day after the date on which such notice is deemed to have been given by the company. The units shall be subject to a statutory hold period that will extend four months plus one day from the closing date.

The company may pay finders fees consisting of up to 5% cash and 5% dealer warrants in connection with the Offering. The dealer warrants shall bear the same terms as the terms of the transaction. The closing of the transaction is subject to completion of formal documentation and receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange.