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Dynamic Fuel Systems Inc. completes private placement

Publication Date:23-January-2006
01:32 PM US Eastern Timezone
Source:FuelCellWorks

Pickering, Ontario CANADA-- Dynamic Fuel Systems Inc. (DYA - TSX Venture), (the "Corporation") announced today that it has completed an arm's length private placement (the "Private Placement") of 10,300,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $515,000. 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 $0.10 at any time prior to 5:00 p.m. (Toronto time) on January 20, 2008.

Pursuant to the Private Placement, Alexander Fairfull acquired ownership and control of 5,000,000 Units, consisting of 5,000,000 Common Shares and 5,000,000 Warrants which, if fully exercised, would represent 14.54% of the Corporation's issued and outstanding Common Shares, assuming the exercise of all Warrants issued in the Private Placement to all the subscribers.

After giving effect to the Private Placement, Alexander Fairfull beneficially and of record, directly or indirectly, owns or controls 5,500,000 Common Shares (including Common Shares previously held), 5,000,000 Warrants and previously granted stock options of the Corporation to purchase 250,000 Common Shares (the "Options") at an exercise price of $0.10 per Common Share until December 16, 2007.

The Common Shares, Warrants and Options in which Alexander Fairfull has ownership and control, if fully exercised, would represent 10,750,000 Common Shares or 15.65% of the Corporation's issued and issued and outstanding Common Shares, assuming the exercise of all Warrants issued in the Private Placement to all the subscribers.

Alexander Fairfull acquired the securities for investment purposes and does presently not intend to increase or decrease his beneficial ownership, control or direction over the Common Shares or other securities of the Corporation, but may do so depending on market and other conditions.

Information about Dynamic

Dynamic Fuel Systems Inc. is a Pickering, Ontario based energy sector company engaged in the manufacture, distribution, installation and marketing of a transportable hydrogen generator retrofit targeted for use in the heavy tractor trailer industry. Its flagship product, the Jetstar(tm), is a patent-pending aftermarket retrofit solution that provides combustion enhancement by mixing hydrogen and oxygen into a vehicle's intake air to provide the engine with a more complete burn of the fuel in its internal combustion engine. Its business was founded in 2001 and more information about its products can be viewed at its website at www.dynamicfuel.com


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