dynaCERT Appoints Doug Seneshen as Director, Expanding Global Sales Oversight Team

Rhea-AI Summary

dynaCERT Inc. (DYFSF) has appointed Doug Seneshen as a new Director to its Board, expanding from nine to ten Directors effective November 20, 2024. Seneshen brings over 40 years of experience in global power and propulsion systems, with expertise in commercial vehicles, mining, oil and gas, defence, marine, and power generation markets. He previously served as Chairman and CEO of MTU Detroit Diesel Australia and held board positions at Penske Transportation Group International. The company has issued 250,000 stock options to Seneshen at an exercise price of $0.25 per share, expiring November 20, 2029.

Positive

• Addition of experienced executive with 40+ years in relevant industry sectors
• Strategic expansion of board to enhance global business development
• Director brings direct experience in key target markets (commercial vehicles, mining, oil & gas)

Negative

• Dilutive effect of 250,000 new stock options issued to director

TORONTO--(BUSINESS WIRE)-- dynaCERT Inc. (TSX: DYA) (OTCMKTS: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to announce the appointment of Mr. Doug Seneshen as a Director to serve on the Board of Directors of the Company.

As a new Director of dynaCERT, Mr. Seneshen’s vast capabilities in global business development and market strategies will provide added direction to the Board of Directors to boost dynaCERT’s international and domestic expansion. His industry and network knowledge aligns with dynaCERT’s expansion plans aimed at growing the sales volume of the Company’s climate change mitigation products.

Mr. Seneshen brings to dynaCERT over 40 years of experience in the global power and propulsion systems business, with direct sales and operations experience in commercial vehicles, mining, oil and gas, defence, marine and power generation markets. In his career, Mr. Seneshen has managed business operations, green field startups, business turnarounds, acquisitions and consolidations including expansion into new markets and countries. He has worked extensively in Asia Pacific and North America.

Mr. Seneshen served as Chairman and CEO of MTU Detroit Diesel Australia (now Penske Australia/New Zealand) until he retired in 2011, to build his consultancy practice. In 2014, he was appointed to the Board of Directors of Penske Transportation Group International, which encompasses the Penske Automotive Group (PAG) Power Systems and Commercial Vehicle investments in Australia Pacific. Between, 2016 and 2023, he served on the Board of Directors of PAG Canada Holdings which encompasses the Canadian operations of the Premier Truck Group. Mr. Seneshen is a graduate of Wilfrid Laurier University having studied Economics, Business and Philosophy. He completed graduate studies at the University of Melbourne in 2012. He was a member of the Australian Institute of Company Directors and has served on numerous industry boards and associations.

Doug Seneshen, Director of dynaCERT, stated, “I am very impressed with dynaCERT's mission and its ongoing advancements in hydrogen technology. Collaborating with a dedicated and talented corporate team focused on reducing carbon emissions in internal combustion engines and pioneering hydrogen innovation is quite exciting for me. As a Director, I look forward to helping shape dynaCERT's strategic direction, ensuring that our innovations continue to have positive impact globally, enhance our customer’s businesses and thereby driving sustainable, long-term and profitable revenue growth. I am eager to increase and further expand dynaCERT’s influence and contributions to the world-wide hydrogen technology sector.”

Bernd Krueper, President and Director of dynaCERT, stated, “dynaCERT management is very pleased to welcome Doug Seneshen as a Director of the Company. Personally, I much appreciate working again very closely with my former, very competent colleague at Detroit Diesel and MTU. Doug is a highly energetic executive with a forthright target-oriented approach that embraces change. Our entire Company, clients and dealers are joining me in greeting Doug Seneshen as a dynamic supporter of the furtherance of our hydrogen technology on a global scale.”

Jim Payne, Chairman and CEO of dynaCERT, stated, “Along with our Board of Directors and the entire team at dynaCERT, I welcome Doug Seneshen to our Company. Doug’s vast experience and network brings a wealth of knowledge and opportunities to foster our corporate goals. Doug will not only actively work as a Director but also provide the Board-level insight of management and sales as we continue to build and strengthen our team for continued growth and global expansion in many vertical markets.”

This new appointment to the board takes effect November 20, 2024. Pursuant to By Law NO. 1 adopted by the shareholders of dynaCERT at its last annual meeting, the Board of Directors of the Company has increased the number of Directors of the Company from nine (9) Directors to ten (10) Directors. Pursuant to its stock Option Plan and in accordance with regulatory requirements, the Company announces that it has issued 250,000 options to a director to purchase its common shares in the authorized share structure of the Company, the exercise price of each such option being $0.25 per share for a period expiring November 20, 2029.

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.

READER ADVISORY

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or ”will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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

On Behalf of the Board
Murray James Payne, CEO

View source version on businesswire.com: https://www.businesswire.com/news/home/20241120268010/en/

For more information, please contact:

Jim Payne, Chairman & CEO

dynaCERT Inc.

#101 – 501 Alliance Avenue

Toronto, Ontario M6N 2J1

+1 (416) 766-9691 x 2

jpayne@dynaCERT.com

Investor Relations

dynaCERT Inc.

Nancy Massicotte

+1 (416) 766-9691 x 1

nmassicotte@dynaCERT.com

Source: dynaCERT Inc.

FAQ

When did Doug Seneshen join dynaCERT (DYFSF) as Director?

Doug Seneshen joined dynaCERT's Board of Directors effective November 20, 2024.

What stock options did dynaCERT (DYFSF) grant to its new director?

dynaCERT granted 250,000 stock options to the new director at an exercise price of $0.25 per share, expiring November 20, 2029.

What is Doug Seneshen's previous experience before joining dynaCERT (DYFSF)?

Doug Seneshen was previously Chairman and CEO of MTU Detroit Diesel Australia and served on the Board of Directors of Penske Transportation Group International, with over 40 years of experience in global power and propulsion systems.