04:44 PM EDT, 05/16/2024 (MT Newswires) -- dynaCERT . (DYA.TO), trading near 52 week lows, on Thursday said it is seeking $2.5 million from a non-brokered private placement of share units.

The company said it is looking to place up to 16.67-million units in the financing, with each priced at $0.15 and made up of a share and one half of a three-year warrant to buy a second share for $0.20.

dynaCert said the gross proceeds of the offering will be used to finance sales of the company's HydraGEN Technology Products to participants in the mining, oil & gas, transportation and generator sectors on a global basis, for working capital and debt repayment, for general corporate purposes, and to settle advisory fees and permitted finders' fees under applicable securities legislation (if applicable).

The company's shares closed Thursday unchanged at $0.135 on the Toronto Stock Exchange, near a 52 week low of $0.12