MRO Magazine

Synodon Announces Non-Brokered Private Placement

November 2, 2015
By Marketwired News

EDMONTON, ALBERTA–(Marketwired – Nov. 2, 2015) –


Synodon Inc. (the “Corporation”) (TSX VENTURE:SYD) is pleased to announce a non-brokered private placement, whereby the Corporation intends to issue up to 40,000,000 units at a price of $0.05 per unit (the “Units”) for gross proceeds of up to $2,000,000 (the “Offering”). The Units will be comprised of one Class A common share (the “Shares”) and one Share purchase warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional Share of the Corporation at a price of $0.065 per Share for a period of 36 months following the closing date of the Offering.

Proceeds from the Offering will be used by the Corporation for general working capital.

All securities issued under the Offering will be subject to a hold period of four months and one day from the closing date of the Offering. The Corporation may pay finders’ fees in cash and warrants.

Completion of the Offering is subject to the approval of the TSX Venture Exchange.

Synodon Inc. ( provides advanced aerial integrity management services to oil and gas pipeline operators including natural gas and liquid hydrocarbon leak detection, pipeline threat assessment, vegetation encroachment, water crossing analysis and other custom services.

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.

The news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable securities laws.

Forward-Looking Statements  

This press release includes forward-looking statements about the Corporation, including the anticipated funds to be raised by the Offering and the expected use thereof. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects’, ‘anticipates’, ‘intends’, ‘plans’, ‘believes’ or negative versions thereof and similar expressions.

Forward-looking statements reflect our current beliefs and are based on information currently available to us and on assumptions that we believe are reasonable. These assumptions include, but are not limited to, the completion of the Offering and the ability to obtain regulatory (including TSX Venture Exchange) approval in a timely fashion. Actual results and developments may differ materially from the results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties which can be beyond our control. These include, but are not limited to, general economic conditions in the countries that we are pursuing contracts in, currency fluctuations and other changes in the competitive environment that the Corporation operates in. For more information, please see the discussion on the principal risks that could affect our results under the section “Risks Relating to Our Business” of the Corporation’s MD&A for the three and nine months ended July 31, 2015. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements in this press release are made to describe management’s expectations and assist shareholders in understanding our financial position. Readers are cautioned that the forward-looking statements presented in this press release may not be appropriate for other purposes. We are under no obligation (and expressly disclaim any obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise unless specifically required by applicable securities legislation.

Synodon Inc.
Paul van Eeden
Executive Chairman