Syntholene Energy Corp. Closes Oversubscribed $3.75 Million Non-Brokered Private Placement

Executive Summary

• Syntholene Energy Corp. closed a non‑brokered private placement raising $3,750,000 in gross proceeds.
• The financing consisted of 8,333,333 units sold at $0.45 per unit, each unit including one common share and one non‑transferable warrant (exercisable at $0.63 for two years, with an acceleration provision).
• Proceeds will be used to procure and assemble components for the company’s demonstration facility in Iceland, as well as for marketing, investor relations, and working capital.

Key Details

• Units Issued: 8,333,333 (each = 1 common share + 1 warrant) at $0.45/unit → $3,750,000 gross proceeds.
• Warrant Terms: Exercise price $0.63; term two years; acceleration if TSX‑V price ≥ $0.90 for ten consecutive trading days (warrants then expire 30 days after notice).
• Use of Proceeds:
• Procurement & assembly of demonstration‑facility components in Iceland.
• Corporate marketing initiatives.
• Investor relations activities.
• General working capital.
• Advisory & Placement Fees:
• Canaccord Genuity: cash commission $112,032; issued 248,960 broker warrants, 111,111 corporate‑finance shares, and 111,111 corporate‑finance warrants.
• Haywood Securities: cash commission $7,992; issued 17,760 broker warrants.
• Related Party Participation:
• John Kutsch (director) – 1,455,556 units for $655,000.
• Grant Tanaka (CFO) – 111,111 units for $50,000.
• Anna Pagliaro (director) – 22,222 units for $10,000.
• Regulatory Notes: All securities subject to a statutory hold period of four months + one day; not registered in the U.S.; financing qualifies as an exempt related‑party transaction under MI 61‑101.
• Early Warning Disclosure – John Kutsch: Post‑financing ownership ~22 % (non‑diluted) and ~26 % (partially diluted) of outstanding common shares.

Notable Quotes

“We are thrilled to have successfully closed this financing, which reflects strong investor confidence in Syntholene's technology and vision,” – Daniel Sutton, Chief Executive Officer.