Syntholene Energy Announces Completion of Reverse Takeover

Executive Summary

• Syntholene Energy Corp. completed a reverse‑takeover of Pre‑Transaction Syntholene, resulting in the company’s name change, share consolidation (5 : 1) and new TSXV ticker “ESAF”.
• The transaction issued ~53.5 M post‑consolidation shares at a deemed $0.375 price, 890,100 warrants, up to 10.75 M deferred consideration shares, and assumed a $180k convertible note (12.5% interest, conversion price $0.30).
• Key insiders (CEO Dan Sutton, Alexander Canon Bryan, John Kutsch) each received ~11.9 M shares plus options/PSUs, collectively owning ~17‑23% of the post‑transaction equity.

Key Details

• Transaction Mechanics – Reverse takeover under an amended Securities Exchange Agreement; final TSXV bulletin expected 10 Dec 2025, trading on a post‑consolidation basis anticipated 12 Dec 2025.
• Share Consolidation – 5 pre‑consolidation common shares converted into 1 post‑consolidation share; new CUSIP 87170K106, ISIN CA87170K1066.
• Equity Issuance – 53,511,804 post‑consolidation shares issued at $0.375 per share; 890,100 warrants exercisable at $0.001685 until 18 Jun 2026.
• Deferred Consideration – Up to 10,750,000 additional shares issuable upon achievement of business milestones.
• Convertible Note Assumption – $180,000 principal, maturing 30 Mar 2027, simple interest 12.5% p.a., convertible at $0.30 per share.
• Amalgamation with FinCo – Issued 9,303,700 shares (deemed $0.375) to former FinCo shareholders; corporate finance fee of 83,333 shares and 151,886 non‑transferable broker warrants ($0.375 exercise, exp 9 Dec 2027).
• Additional Equity Grants – 6,195,700 stock options, 1,500,000 performance share units (PSUs), 5,025,000 restricted share units (RSUs) to directors/officers; escrow of 35.6 M shares and related securities per TSXV Tier‑2 schedule.
• Post‑Closing Share Count – Approximately 68,949,286 post‑consolidation shares outstanding immediately after closing.
• Insider Holdings Post‑Transaction
• Dan Sutton: 11,868,000 shares + 933,500 options + 375,000 PSUs (≈17.21% non‑diluted).
• Alexander Canon Bryan: 11,868,000 shares + 543,400 options + 125,000 PSUs (≈17.21% non‑diluted).
• John Kutsch: 15,583,467 shares + 543,400 options + 100,000 RSUs (≈22.6% non‑diluted).
• Board & Management – New board: Dan Sutton, Alexander Canon Bryan, John Kutsch, Anna Pagliaro, Steve Oldham; management includes CEO Dan Sutton, CFO Grant Tanaka, CDO Alexander Canon Bryan, Chief Engineer John Kutsch, Corporate Secretary Jennifer Hanson.
• Investor Relations & Marketing Agreements –
• Kin Communications: $15,000 monthly fee + $500 per weekend/holiday conference day + 500,000 options (exercise $0.375) through Dec 2028.
• SmallCap Communications: $300,000 total ($150k at closing, $150k on 8 Jan 2026).
• Milestone Capital Partners: €260,000 fee + 500,000 options (exercise $0.375) through Dec 2028.
• Generation IACP Inc.: $8,500 monthly fee (3% annual increase), renewable semi‑annually until May 2026.
• Use of Proceeds – Funds from concurrent financing to cover investor relations, marketing and communications expenses.

Notable Quotes

“This milestone is important and impactful for Syntholene and the broader eFuels sector. Being the first publicly traded pure‑play synthetic fuel company on any exchange worldwide sets up Syntholene to build value with shareholders from day one of this new era for high‑performance, low‑cost, and carbon‑negative eFuels.” – Dan Sutton, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the filing statement dated 30 Nov 2025.