08:24 AM EDT, 06/27/2024 (MT Newswires) -- DynaCERT ( DYFSF ) said on Thursday that it raised nearly $2 million in the initial tranche of its private placement.

The company plans to use the proceeds to finance sales of its HydraGEN Technology Products for carbon emission reduction, as well as for working capital and general corporate purposes.

The tranche comprised nearly 13 million units priced at $0.15 apiece. The total offering is for up to nearly 17 million units for a total of $2.5 million

Each unit consists of one share and one-half of a warrant. Each whole warrant is exercisable at $0.20 per warrant for 36 months.

DynaCERT's ( DYFSF ) share price slumped 7% yesterday on the TSX to $0.14.