trending Market Intelligence /marketintelligence/en/news-insights/trending/d6ukzbeahzriy7he9f6v7g2 content esgSubNav
In This List

Synex closes private placement of C$1.7M in shares for hydro projects

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Synex closes private placement of C$1.7M in shares for hydro projects

Synex International Inc. has completed the sale of 3.7 million common shares in a private placement to Nilock Capital Corp., at 45 Canadian cents per share for gross proceeds of about C$1.7 million.

The British Columbia hydroelectric developer will use the proceeds for developing the 4.3-MW Newcastle Creek Hydroelectric Project and the 5-MW McKelvie Creek Hydro project, as well as for general corporate purposes, including working capital.

As part of the private placement, Arthur Irving Jr. has been appointed as a director on Synex's board. Irving owns a controlling stake in Nilock Capital.

Synex granted Irving incentive stock options to buy up to 100,000 shares. The company also granted recently appointed corporate secretary Mark Stephens incentive stock options to purchase about 50,000 shares, and a grant of 200,000 options to a consultant.