Remember this NR?
"Dynamic Fuel Systems Inc. (DYA – TSX Venture) (the "Corporation") announced today that it
has completed an arm's length non-brokered private placement of 5,573,250 units (the "Units") at
a price of $0.20 per Unit for aggregate gross proceeds of $1,114,650. Each Unit consists of one
common share in the capital of the Corporation (a "Common Share") and one common share
purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share at a price
of $1.50 for a period of two years from the date of issuance thereof. The foregoing private
placement is subject to receipt of final approval from the TSX Venture Exchange. In accordance
with applicable securities laws, the Common Shares and Warrants issued under the private
placement are subject to four-month hold periods that will expire on December 18, 2007."
Someone made a PP at above market prices (at the time) to get this deal. If it's a deal, they must be of the mind that the SP will be way in excess of $1.50 by August 2009 to make it worthwhile. Continued DD tells us that it's a likely scenario, but there are a few bridges to cross on the way. Let's hope the first bridge is in sight.