Synodon Board Establishes Special Committee

EDMONTON, ALBERTA–(Marketwired – May 5, 2016) – Synodon Inc. (“Synodon” or the “Company”) (TSX VENTURE:SYD) announced that the Board of Directors (the “Board”) has established a special Committee (the “Special Committee”) consisting of the independent members of the Board in order to evaluate strategic alternatives for the Company.

The chairman of the Special Committee is Mr. John Pinsent, the current chair of the Audit Committee of the Company.

NEITHER 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.

This press release includes forward-looking statements about Synodon Inc., including the implication that there will be anticipated benefits from the evaluation performed by the Special Committee. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the possibility that the Special Committee will determine that no action will be undertaken.

Forward-looking statements reflect our current beliefs and are based on information currently available to us and on assumptions that we believe are reasonable. 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 Synodon 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 Synodon’s 2015 MD&A as update in the interim MD&A filed during the 2016 fiscal year. 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. 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.