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Dynamic Technologies Group Announces Closing of Offering for Aggregate Gross Proceeds of $5,000,000

TORONTO, June 27, 2022 (GLOBE NEWSWIRE) -- Dynamic Technologies Group Inc. (TSXV: DTG, OTC:ERILF) ( "Dynamic" or the "Company"), with reference to its previous news release dated April 12, 2022, is pleased to announce that today it closed the final tranche of the private placement by placing an aggregate of 10,800,000 units ("Units") at a price of CDN $0.3125 per Unit for gross proceeds to the Company of CDN $3,375,000 at an exchange rate of CDN $1.25 for each USD $1.00.

Since announced on April 12, 2022, the Company raised a total aggregate amount of $5,000,000 at an exchange rate of CDN $1.25 for each USD $1.00 by the issuance of 16,00,000 Units at a price of CDN $0.3125 per Unit (the "Offering"). The Company intends to use the proceeds of the Offering for working capital. No finders fees are payable in connection with the Offering.

Each Unit consists of one (1) common share in the capital of the Company (each a "Common Share") and one (1) common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to one (1) additional Common Share for a period of twenty-four (24) months from June 27, 2022 at an exercise price of $0.50 and thereafter until expiry on the date that is thirty-six (36) months from June 27, 2022 at an exercise price of $0.75. All securities issued as part of the Offering will be subject to a four month and one day hold period.

The Offering is being conducted with a single investor (the "Investor"). Pursuant to the terms of the investment agreement (the "Agreement") entered into between the Investor and the Company, for so long as the Investor, directly or indirectly, holds no less than 5% of the issued and outstanding Common Shares of the Company, the Investor shall have the right to nominate one person to the board of directors of the Company, subject to the Investor and its nominee complying with the provisions of applicable securities legislation, regulations, rules, policies and stock exchange rules.

About Dynamic Technologies Group Inc.

Dynamic is a world leader in the design engineering, production, and commissioning of iconic, media-based attractions and ride systems for the global theme park industry and entertainment destinations. It also applies these same engineering integration and problem solving skills for special projects in diversified industries such as alternative energy and large optical telescopes and enclosures. Dynamic also has commenced an initiative to leverage its world class flying theater products and attraction development capability on a co-venture ownership basis. It was selected as a 2020 TSX Venture 50 company. The 2020 TSX Venture 50 is a ranking of top performers on the TSX Venture Exchange over the past year. The ranking is comprised of 10 companies from each of 5 industry sectors, with Dynamic being selected in the Diversified Industry category. Selection was based on three equally weighted criteria; share price, trading and market capitalization. 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 NelsonAllan Francis
Executive Chair & CEOVice President ? Corporate Affairs and Administration
Phone: (416) 366-7977Phone: (204) 589-9301
Email: gnelson@dynamictechgroup.comEmail: afrancis@dynamictechgroup.com

Reader Advisory
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Dynamic's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "booked", "scheduled", "positions", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or state that certain actions, events or results "may", "may be", "could", "should", "would", "might" or "will", "occur" or "be achieved". Such statements include statements with respect to (i) the closing of Offering; and (ii) the use the proceeds of the Offering as working capital. 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 such forward-looking statements. Although Dynamic believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of the Company. The forward-looking statements contained in this news 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 statements whether as a result of new information, future events or otherwise, except as may be 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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