Dynamic Technologies Group Announces Amendment to Prime Lender Agreement

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TORONTO, March 31, 2022 (GLOBE NEWSWIRE) — Dynamic Technologies Group Inc. (TSXV: DTG, OTC: ERILF) (“Dynamic”, “Company”, “we” and “our”) announces that it has signed an amendment to its loan agreement with its primary lender to extend the principal repayment due date of US$10.4 million from March 31, 2022 to April 15, 2022.

Guy Nelson, Executive Chairman and Chief Executive Officer of Dynamic, said: “This extension of the principal of the short-term loan will allow the company to continue ongoing negotiations with a strategic investor, which the company believes will be completed in this period and should allow the company to:

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  • Repay our short-term debt with strategic debt and equity;
  • Accelerate the development of several of our joint venture opportunities;
  • Continue to leverage existing IP and continue to create new IP; and
  • Continue to support business development and project execution in grocery delivery. »

About Dynamic Technologies Group Inc.

Dynamic is a global leader in the design engineering, production and commissioning of iconic media attractions and ride systems for the global theme park industry and popular tourist destinations. Dynamic leverages its world-class media attraction products and attraction development capability on a joint venture basis. The Company also applies its engineering integration and problem solving skills on special projects in diversified industries such as alternative energy and large optical telescopes and enclosures.

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Dynamic’s common shares are listed on the TSX Venture Exchange under the symbol DTG. For more information about the company, visit www.dynamictechgroup.com or contact:

Guy Nelson Francois Allan
Executive Chairman and CEO Vice President – ​​Corporate Affairs and Administration
Phone: (416) 366-7977 Phone: (204) 589-9301
Email: gnelson@dynamictechgroup.com Email: afrancis@dynamictechgroup.com

Notice to readers
This press release contains forward-looking statements, within the meaning of applicable securities laws, regarding the business and affairs of Dynamic. In some cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “reserved”. ‘, ”programmed”, “positions”, “estimates”, “plans”, “intends”, “anticipates”, “believes” or variations of these words and phrases or states that certain actions, events or results ”may”, ”can be”, ”could”, ”should”, ”could” or ”will”, ”will happen” or ”will be done’ ‘ ‘. These statements include statements regarding: (i) the Company’s belief that negotiations with the strategic investor will be successful; and (ii) the expectation that the Company will enter into a debt and/or equity transaction with the strategic investor, be able to pursue joint venture opportunities, be able to leverage its existing intellectual property and may continue to create new intellectual property and will continue to support business development and project execution in grocery delivery. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Although Dynamic believes these statements to be reasonable, no assurance can be given that such expectations will prove to be correct and undue reliance should not be placed on any forward-looking statements included in this press release. Actual results could differ materially from those anticipated in these forward-looking statements due to current economic conditions and other factors, many of which are beyond the Company’s control. The forward-looking statements contained in this press release represent Dynamic’s expectations as of the date hereof and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities regulations.

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

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