Dynastar Inc. (TSX VENTURE:DDC) ("Dynastar" or the "Corporation") is pleased to
announce that its completed an acquisition (the Acquisition") of all of the
issued and outstanding securities of Harvie Instruments Ltd. ("Harvie") and
Santa Rita Enterprises Inc. ("Santa Rita"). Harvie Instruments, in business
since 1967, provides service to oil and gas production and service companies
with instrumentation, calibration and rentals. Santa Rita markets industrial and
oilfield supplies specializing in well testing and instrumentation equipment.


The Acquisition

Pursuant to the Acquisition, Dynastar acquired 100% of the outstanding shares of
Harvie and Santa Rita for a purchase price of $850,000 cash payment and $150,000
paid through the issuance of 1,500,000 common shares of Dynastar at the deemed
price of $0.10 per share.


The total consideration for the Acquisition is $1,000,000. Upon completion of
the Acquisition, Dynastar has 15,653,874 common shares outstanding (prior to the
completion of any concurrent financing as outlined below). The transaction was
an arm's length transaction.


The Acquisition remains subject to the acceptance of the TSX Venture Exchange
(the "TSXV").


Private Placement

Dynastar also announces that it has closed the first tranche of a non-brokered
private placement of 1,200,000 common shares ("Common Shares") issued at a price
of $0.10 per Common Share for gross proceeds of $120,000. It is anticipated that
up to another 800,000 Common Shares will be issued under the private placement
on or before July 31, 2008. All of the Common Shares issued in connection with
this private placement are subject to a four-month hold period from the date of
issuance. The proceeds of the private placement were used primarily to fund the
purchase price payable under the Acquisition. The private placement is subject
to final TSXV acceptance.


Robin Vincent, President and CEO of the Corporation has purchased 1,000,000
Common Shares of the private placement.


This press release contains forward-looking statements subject to various risk
factors and uncertainties, which may cause the actual results, performances or
achievements of Dynastar to be materially different from any future results,
performances or achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, fluctuations in the
market for oil and gas and related products and services, political and economic
conditions, the demand for services provided by Dynastar, industry competition
and Dynastar's ability to attract and retain both customers and key personnel.


Dynastar (Tier2) (TSXV:DDC)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Dynastar (Tier2) Charts.
Dynastar (Tier2) (TSXV:DDC)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Dynastar (Tier2) Charts.