TORONTO, April 12, 2022 (GLOBE NEWSWIRE) -- Dynamic Technologies Group Inc. (TSXV: DTG, OTC:ERILF) ( “Dynamic” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement financing of 16,000,000 units (“Units”) at a price of CDN $0.3125 per Unit for gross proceeds to the Company of CDN $5,000,000 at an exchange rate of CDN $1.25 for each USD $1.00 (the “Offering”).

Each Unit will consist of one (1) common share in the capital of the Company (each a “Common Share”) and one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to one (1) additional Common Share for a period of twenty-four (24) months from the date of issuance at an exercise price of $0.50 and thereafter until expiry on the date that is thirty-six (36) months from the date of issuance at an exercise price of $0.75.    All securities issued as part of the Offering will be subject to a four month and one day hold period.

Closing of the Offering is subject to customary conditions, including receipt of all regulatory approvals. The Offering will close in multiple tranches the first of which is anticipated to close on April 14, 2022. The Company intends to use the proceeds of the Offering for working capital.

About Dynamic Technologies Group Inc.

Dynamic is a world leader in the design engineering, production, and commissioning of iconic, media-based attractions and ride systems for the global theme park industry and entertainment destinations. It also applies these same engineering integration and problem solving skills for special projects in diversified industries such as alternative energy and large optical telescopes and enclosures. Dynamic also has commenced an initiative to leverage its world class flying theater products and attraction development capability on a co-venture ownership basis. It was selected as a 2020 TSX Venture 50 company. The 2020 TSX Venture 50 is a ranking of top performers on the TSX Venture Exchange over the past year. The ranking is comprised of 10 companies from each of 5 industry sectors, with Dynamic being selected in the Diversified Industry category. Selection was based on three equally weighted criteria; share price, trading and market capitalization. Dynamic’s common shares are listed on the TSX Venture Exchange under the symbol DTG.

For more information about the Company, visit www.dynamictechgroup.com or contact:

Reader Advisory
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Dynamic’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, ‘‘budget’’, “booked”, ‘‘scheduled’’, “positions”, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’, “believes” or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, “may be”, ‘‘could’’, “should”, ‘‘would’’, ‘‘might’’ or ‘‘will’’, ‘‘occur’’ or ‘‘be achieved’’. Such statements include statements with respect to (i) the closing of Offering; and (ii) the use the proceeds of the Offering as working capital. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Dynamic believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The forward-looking statements contained in this news release represent Dynamic’s expectations as of the date hereof, and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.