#Cleantech #Stock News: dynaCERT (TSX:
$DYA.TO) (OTCQX: $DYFSF) (FRA: DMJ) and
Galaxy Power Applaud the #Canadian Clean Technology Tax Incentives of Budget
2022; @dynaCERT
TORONTO, ON - April 08, 2022-(Investorideas.com Newswire) dynaCERT
Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT"
or the "Company") and Galaxy Power Inc. ("Galaxy Power") applaud
the recently announced changes proposed in the Canadian Government’s Budget of
April 7, 2022 ("Budget 2022") regarding the creation of a 30% new Tax
Credit for Investments in Clean Technology focused on net-zero technologies,
battery storage and clean hydrogen, the new 30% Critical Mineral Exploration
Tax Credit and certain other provisions relating to expanding clean technology
tax incentives associated with flow through shares, including the expansion of
Class 43.1 and 43.2 Canadian Renewal and Conservation Expense
("CRCE") tax definitions, and certain new deductions (collectively
the "Clean Tech Incentives").
Read
this news, featuring DYA in full at https://www.investorideas.com/CO/DYA/news/2022/04081Canadian-Clean-Technology-Tax-Incentives.asp
Successful Consultative Meetings:
dynaCERT
and Galaxy Power and their principals have been meeting for more than two (2)
years with cabinet ministers, elected Members of Parliament, as well as senior
officials within the government to advance, and assist with, the implementation
of Clean Technology tax deferrals and tax credits. dynaCERT and Galaxy Power
have had face-to-face meetings, conversations and correspondence with political
parties on all sides to help bring Clean Technology tax incentives to fruition.
Foreseeable Future Economic Benefit:
Budget
2022, and its corresponding proposals for Clean Tech Incentives, were endorsed
by The Right Honourable Justin Trudeau, Canada’s Prime Minister and leader of
the Liberal Party of Canada, The Honourable Chrystia Freeland, Canada’s Deputy
Prime Minister and Minister of Finance, The Honourable Steven Guilbeault,
Environment and Climate Change Minister, and The Honourable Omar Alghabra,
Minister of Transport, among many other dignitaries.
Accordingly,
Galaxy Power and dynaCERT welcomes the Clean Tech Incentives as lasting strong
evidence of an obvious, clear, irrefutable and unequivocal "foreseeable
future economic benefit" for all Canadians and to such Canadian
participants such as dynaCERT and Galaxy Power.
Support for Continued Government
Consultation:
dynaCERT
and Galaxy Power continue to support the government’s openness in a
consultative process on the design details of the tax matters in Clean
Technology and see consultative measures as a rational and important step to
continue to expand Clean Technology Flow Through Shares.
Clean Technology Incentives Reduce
GHG’s:
The
new Clean Tech Incentives can enhance the financial potential of fast-growing
Clean Technology companies that foster Clean Technology in Canada to reduce
global Greenhouse Gas Emissions ("GHG’s").
Enhancing Growth of Canadian
Companies:
Galaxy
Power and dynaCERT believe that the Clean Tech Incentives in Budget 2022, along
with the Budget 2021 proposed expanded Clean Technology Flow Through Share
policy, when successfully implemented, can greatly enhance the much-needed
financing capabilities of Clean Technology companies in Canada while at the
same time contributing to the Canadian Government’s objectives of reducing
Canadian GHG’s and enhancing rapid Canadian economic growth from coast to
coast.
The
Clean Tech Incentives in Budget 2022 are seen as being in accordance with the
objectives of the Paris Agreement of the United Nations, which is a legally
binding international treaty on climate change.
Importance of Tax Incentives:
As
opposed to government grants, significant tax credits and Clean Tech Incentives
as the ones contained in Budget 2022 bring to the private sector the impetus to
make business decisions based on reducing GHG’s and places the incentive to
invest in Clean Technology on the private sector while using private sector
capital as opposed to direct investing by governments.
The
new Clean Tech Incentives clearly demonstrate the Federal Government’s
recognition of the need to involve private sector capital to combat GHG’s.
This
involvement of private sector capital is seen as consistent with, and an
important precursor to, a continued expansion of Clean Technology Flow Through
Share policy which could bring vast amounts of additional capital from the
Capital Markets in Canada.
Creation of Jobs Throughout Canada:
Galaxy
Power and dynaCERT believe that Clean Tech Incentives can create numerous jobs
across the nation, for individual workers, scientists, engineers, researchers,
entrepreneurs as well as start-ups and large multinationals, and many other
contributors, of all employment ages, in urban and remote areas of Canada.
Galaxy
Power has indicated in its talks with government officials that thousands of
jobs have been created with the multiple Billions of dollars of the national
Mining and Oil & Gas investments attributed to Flow Through Shares which
were first magnificently instituted by successive Canadian Governments since
approximately four (4) decades ago and endorsed by successive Provincial
Governments.
Jean-Pierre
Colin, President & CEO of Galaxy Power stated, "The historic changes
contributing to the new Clean Tech Incentives contained in Budget 2022 are very
significant for all Canadians. Galaxy Power warmly thanks and applauds the
Canadian Government and all of the politicians and Members of Parliament and
the senior government officials who put forward strong climate change action by
endorsing new Clean Tech Incentives.
In
addition to the well-meaning but financially limited ability of governments,
the larger collective economic might of the Canadian Capital Markets is
required in order to address the risky challenges of financing the urgent
high-priced fight against GHG’s. The expansion of Clean Technology Flow Through
Share tax provisions has potential to attract the numerous Capital Market
participants to become directly involved. Galaxy Power recognizes with
pronounced esteem the vital efforts of all the non-partisan participants
throughout all of Canada who continually foster the significance and expansion
of eligibility of Clean Technology Flow Through Shares."
Jim
Payne, President & CEO of dynaCERT stated, "As the owner of 20% of
Galaxy Power, dynaCERT is very pleased with the proposed New Tax Credit for
Investments in Clean Technology of Budget 2022. This successful endeavour,
supported by dynaCERT and Galaxy Power, may have a historical significance one
day in Canadian financial history. The long efforts of the entire team at
Galaxy Power in furthering the new Clean Tech provisions under Budget 2022 have
been endorsed by the entire Canadian Government and we thank governments and
parliamentarians for their availability and understanding. dynaCERT also thanks
Galaxy Power for their tenacious initiative which can have long lasting
economic benefits to dynaCERT."
About Flow Through Shares
Clean
Technology Flow Through Shares can enhance the non-government private sector in
Canada to contribute to the international battle against climate change without
the reliance on government grants. For more information on the subject of Flow
Through Shares, please see the numerous Government of Canada web sites on the
subject, including the one below:
About Galaxy Power Inc.
Please
see: www.galaxypower.ca
About dynaCERT Inc.
dynaCERT
Inc. manufactures and distributes Carbon Emission Reduction Technology 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, resulting in lower carbon emissions and greater 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, marine vessels
and railroad locomotives. 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. In particular,
forward-looking information in this press release includes, but is not limited
to completion of the Offering, satisfaction of TSX listing conditions and
regulatory approvals. 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.
This
Press Release should not be construed as tax advice nor investment advice.
Readers are advised that they should consult their own tax advisors and
investment advisors in regard to any investment related to Flow Through Shares
or investments in Clean Technology Companies.
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
Contacts
For more information:
Jim
Payne, CEO & President
dynaCERT
Inc.
#101
– 501 Alliance Avenue
Toronto,
Ontario M6N 2J1
+1
(416) 766-9691 x 2
Investor Relations
dynaCERT
Inc.
Nancy
Massicotte
+1
(416) 766-9691 x 1
dynaCERT
Inc. (TSX:DYA.TO) (DYFSF) is a featured Renewable Energy / Fuel Cell stock on
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