Syntholene Energy Corp. Announces Upsize to Previously Announced Non-Brokered Private Placement

Executive Summary

• Syntholene Energy Corp. increased its previously announced non‑brokered financing from up to $2.0 million to up to $3.75 million.
• The financing will be issued at $0.45 per unit, each unit consisting of one common share and one non‑transferable warrant exercisable at $0.63 for two years.
• Proceeds are earmarked for the procurement and assembly of components for a demonstration facility in Iceland, as well as corporate marketing, investor relations, and working capital.

Key Details

• Financing Size: Increased to a maximum of $3.75 million (previously $2.0 million).
• Unit Price: $0.45 per unit.
• Unit Composition: 1 common share + 1 non‑transferable common share purchase warrant.
• Warrant Terms: Each whole warrant allows the holder to purchase one additional common share at an exercise price of $0.63, exercisable for two years from issuance, with an acceleration provision per financing terms.
• Use of Proceeds:
• Procurement and assembly of components for Syntholene’s planned demonstration facility in Iceland.
• Corporate marketing initiatives.
• Investor relations activities.
• General working capital.
• Insider Participation: May occur; extent not yet determined and will be disclosed per TSX Venture Exchange policies.
• Closing Structure: Financing may close in one or more tranches.
• Finder’s Fees: Potential payable, subject to securities law compliance and exchange policies.
• Statutory Hold Period: All securities issued are subject to a hold period of four months and one day from issuance.
• Regulatory Conditions: Completion contingent on receipt of all required regulatory approvals, including TSX Venture Exchange approval.
• U.S. Offering Restrictions: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent registration or exemption.

Notable Quotes

(No direct quotes were provided in the release.)