Synstream Energy Corp. Announces Agreement with Byte Power Group to Develop Cryptocurrency and ICO Plan



 

 

Synstream Energy Corp. Announces Agreement with Byte Power Group to Develop Cryptocurrency and ICO Plan



Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM) announced today that it has entered into a form of agreement entitled Heads of Agreement with Byte Power Pty Ltd., a corporation listed on the Australian Stock Exchange (“Byte Power”).  Under this agreement, Byte Power will provide research and development services to determine an appropriate form of cryptocurrency which may be created and developed by Byte Power for Synstream, from design conception through to Initial Coin Offering (ICO).  Specifically, these services will include evaluating potential cryptocurrencies to be based on concepts developed by Synstream and Byte Power and may include natural gas environmental processing or other environment-oriented elements as the base for a potential cryptocurrency and as a supplement to the Company’s existing business.

 

In commenting on the execution of this agreement, Synstream CEO Mr David Pinkman stated: "We are excited about our engagement of Byte Power to provide these scoping study services to evaluate the creation of cryptocurrencies which will take advantage of the business experience and expertise of the Company and its Board of Directors.  We are excited to partner with Byte Power to explore establishing new cryptocurrencies that may expand upon our current business model”.

 

Mr Alvin Phua, Chairman and CEO of Byte Power Group said ”the signing of this Heads of Agreement allows Byte Power Pty Ltd to expand its footprint in the cryptocurrency market place and develop cryptocurrency concepts from design through to ICO implementation.  There are potentially many synergies that will benefit Byte Power and Synstream and I look forward to working closely with Synstream to open new business opportunities for both companies”. 

 

For further information, contact:

 

David Pinkman

Chief Executive Officer (Interim)

(403) 863-6034

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/SynstreamR12152017.pdf

Source: Synstream Energy Corp. (TSX Venture:SHM)

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Synstream Energy Corp. Announces Termination of Non-Binding Letter of Intent



Synstream Energy Corp. Announces Termination of Non-Binding Letter of Intent

 

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES



Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Corporation”) announced today that it, 1262430 Alberta Ltd. (“126”) and Sundial Growers Inc. (“Sundial”) have mutually agreed to terminate the previously announced non-binding Letter of Intent relating to the purchase by 126 and Synstream from Sundial of the controlling interest in Kamcan Products Inc. (“KPI”), a company applying for a license to produce under the Access To Cannabis for Medical Purposes Regulation. KPI is a late stage applicant under the Regulation with a facility under construction located in Kamloops, British Columbia.  Synstream has cited its inability to obtain timely regulatory approval and the consequent effect on its ability to raise the required financing to close the transaction.

 

As a consequence, Synstream will continue with its previously announced strategic review program aimed at assessing proposals for opportunities submitted by various stakeholders. These proposals to date have included a review of the Company’s efforts to complete its financing program as a participant in the mid-stream, gas-to-liquids industry. In addition, Synstream will continue discussions with those stakeholders relative to other opportunities they have identified in the medicinal cannabis cultivation and production industry, and is also considering opportunities presented to it in the developing blockchain technologies creation, development and listing market. These opportunities require extensive due diligence and to this end the Company will explore the merits of any proposal with its professional advisors. 

 

It is expected that the common shares of Synstream will resume trading in the near future.

 

For further information, contact:

 

David Pinkman

Chief Executive Officer (Interim)

(403) 863-6034

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements in respect of the resumption of trading. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Corporation can give no assurance that they will prove to be correct.

 

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Synstream12042017.pdf

Source: Synstream Energy Corp. (TSX Venture:SHM)

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Synstream Energy Corp. Announces Non-Binding Letter of Intent with Sundial Growers Inc.

 

 

Calgary, Alberta (FSCwire) - Synstream Energy Corp. ("Synstream" or the "Corporation”) (TSXV:SHM), announced that it has entered into a non-binding letter of intent (“LOI”) with 1262430 Alberta Ltd. (“126”) and Sundial Growers Inc. (“Sundial”).

Pursuant to the LOI the Corporation intends to negotiate a purchase and sale agreement to acquire up to 66.6% of the issued and outstanding common shares of 10370738 Canada Inc. (“Holdco”), a wholly owned subsidiary of Sundial (the “Proposed Transaction”).  Holdco is the sole shareholder of Kamcan Products Inc. (“KPI”), a company applying for a license to produce under the Access To Cannabis for Medical Purposes Regulation (“ACMPR”).  The LOI contemplates that Synstream will fund the construction of the required building as contemplated by the ACMPR application in exchange for common shares of Holdco (the “Holdco Shares”).  126 is a corporation wholly owned by Johannes Kingma, who, through personal and corporate holdings, is a control person of the Corporation.  Pursuant to the Proposed Transaction 126 would acquire 13.4% of the Holdco Shares and Sundial would hold 20% of the Holdco Shares.

 

KPI is a late stage applicant under the ACMPR with a facility under construction located in Kamloops, British Columbia.   Steps which have been completed to date include submission of an application to Health Canada (September 5, 2013 (10-MM0122)) and receipt of approval by the City of Kamloops for use of the land for medical cannabis production purposes. The full facility is expected to comprise growing facilities and enhanced cannabis product manufacturing capabilities with total build out size of approximately 39,258 sq. ft.

 

As part of the Proposed Transaction, Synstream intends to raise up to $7.5 million through the issuance of common share units (“Units”) and through unsecured convertible debentures (the “Debentures”) (collectively the “Financing”). Each Unit will consist of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to acquire one additional common share of the Corporation for a period of one (1) year after the issuance of the Warrant subject to acceleration of that expiry date in certain circumstances. The pricing of the Units and the conversion price and interest rate applicable to the Debentures will be determined by the Corporation in the context of the market and consultation with its advisors.  The net proceeds from the Financing are anticipated to be used to fund the construction of the building and facilities in connection with KPI’s ACMPR application and for general corporate purposes.

 

The completion of the Proposed Transaction is subject to a number of conditions including negotiation and execution of a definitive agreement, receipt of all required regulatory approvals, including approval of the TSX Venture Exchange and completion of due diligence by each of Sundial, 126 and Synstream. There is no guarantee that the Proposed Transaction will be completed on the terms as described above or that the Proposed Transaction will proceed at all. Further details about the Proposed Transaction will be provided in a comprehensive news release when the parties enter into a definitive agreement and in a disclosure document to be prepared and filed in respect of the Proposed Transaction. 

 

Finally, the Corporation also announced that, subject to TSX Venture Exchange acceptance, it has granted options to certain directors, officers, and consultants to acquire an aggregate of 3.5 million common shares of Synstream.  These options will be exercisable at a price of $0.10 per share and will be issued pursuant to the terms of the Corporation’s Stock Option Plan.

 

About Sundial Growers Inc.:

 

Sundial is a privately held ACMPR licensed cannabis producer based in Alberta. Sundial currently has a cultivation license to produce medical cannabis at its Rocky View County facility and is expanding its operations in the Town of Olds, Alberta. Once this expansion is fully realized in 2019, Sundial expects to operate over half a million square feet of production facilities capable of producing 77,000 kilograms of cannabis per year.

 

For further information, contact:

 

David Pinkman

Chief Executive Officer (Interim)

(403) 863-6034

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements in respect of the completion of binding documentation to effect the Proposed Transaction and the terms of and completion of the proposed financing. There is no certainty that a final and binding definitive agreement will be entered into in respect of the Proposed Transaction or that the Proposed Transaction will be completed at all. There is no certainty that the proposed financing will be completed on terms acceptable to the Corporation or at all.  Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Corporation can give no assurance that they will prove to be correct.

 

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the Corporation of 126 is not satisfied with the results of its due diligence, that the formal documentation effecting the Proposed is not completed or accepted or that any debt or equity funding will be available to the Corporation. There is no certainty that a definitive agreement effecting the Proposed Transaction will be completed or accepted. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/SynstreamOct252017.pdf

Source: Synstream Energy Corp. (TSX Venture:SHM)


Monday, August 21, 2017 - 10:22pm

Synstream Energy Corp. Announces Changes to Management; Intention to Review Business Development Option

Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM), announced today that, after the resignation of Shane Ferster as CEO and a director of the Company,  David E.T. Pinkman has been appointed to act as interim CEO until a shareholders’ meeting can be held in due course. Mr. Pinkman has served as the chief executive officer of the Company in previous years.  In addition, the Board of Directors have elected Mr. Sandy Louttit as a director to fill the position vacated by Mr. Ferster.  Mr. Loutitt is the President of Builder’s Capital Mortgage Corp.  He received his B.A. (Economics) from the University of British Columbia. Actively involved in all aspects of construction and financing for over 15 years, Mr. Loutitt is a member of the Alberta Mortgage Brokers Association (“AMBA”) and a licensed mortgage agent with the Real Estate Council of Alberta.  He has served on the boards of several public companies in the finance and resource industries.

In the wake of these changes, the Board of Directors of the Company has commenced a strategic review aimed at assessing proposals for opportunities submitted by various stakeholders. These proposals include a review of the Company’s efforts to complete its development as a significant participant in the New Age mid-stream, gas-to-liquids industry. They also entail the consideration of a move to other industrial ventures which might offer meaningful opportunities in the current Alberta business environment. In particular, the Board of Synstream has had discussions with those stakeholders aimed at considering a number of opportunities they have uncovered in the expanding medicinal cannabis cultivation and production industry.  These opportunities require extensive due diligence and to this end the Company will explore the merits of the proposal with its professional advisors. 

For further information, contact:

David Pinkman

Chief Executive Officer (Interim)

(403) 863-6034

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/synstream08212017.pdf

Source: SynStream Energy Corp. (TSX Venture:SHM)


SYNSTREAM ENERGY CORP. EXTENDS SELLING PERIOD FOR PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

JANUARY 16, 2017 – Calgary, AB: SynStream Energy Corp. (“SynStream” or the “Corporation”) (TSXV:SHM), announced today that, further to the announcement of its intention to complete a private placement of up to 6,000,000 flow-through common shares (the "Offering"), and after consultation with Emerging Equities Inc. of Calgary, AB (the “Agent”), it has determined to amend the terms of the Agent’s service agreement by extending the period for the sale and completion of the best efforts Offering until March 31, 2017. The flow-through common shares (the “Shares”) will be issued pursuant to "Canadian Renewable and Conservation Expenses" provisions of the Income Tax Act (Canada) and regulations thereunder (the "Act") at a price of $0.25 per flow-through share for gross proceeds of up to $1,500,000.

The net proceeds of the Offering will be used in the construction of a waste-heat-to-power system at the Corporation’s proposed gas-to-liquids plant near Carseland, Alberta. The Corporation intends to use the proceeds from the issuance of the Shares to incur "Canadian Renewable and Conservation Expenses" within the meaning of the Act.

The Shares issued under this Offering will be offered by way of private placement in the provinces of British Columbia, Alberta, Saskatchewan, and Ontario and such other provinces or territories of Canada as may be determined by the Corporation and, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Offering will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Offering.

In connection with the Offering, the Agent will remain entitled to a corporate finance fee of $5,000.00 and a sales commission equal to 10% of the aggregate gross proceeds raised by the Corporation from the Offering. Additionally, the Agent will recover reasonable expenses and will be granted options to purchase that number of common shares equal to 10% of the number of flow-through and common shares sold under the Offering exercisable at $0.25 per share for a period of 18 months after the closing of the Offering.

Closing of the Offering is anticipated to occur on or before March 31, 2017. The Offering remains subject to acceptance by the TSXV and satisfaction of other customary conditions for brokered private placements.

About SynStream Energy Corp.

SynStream continues to evaluate business development opportunities in the petroleum and natural gas resource sectors, focusing on its partnership between with Expander and a consortium of private investors to build Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. Given the current depressed nature of natural gas prices in relation to diesel prices in Alberta, management is confident that expansion of the Corporation's business activities can be accomplished on a basis that is both economically feasible and profitable.

SynStream is dedicated to transparency for our shareholders and is proud to be a part of 8020 Connect’s shareholder engagement platform. Join the conversation and engage with SynStream's management at 8020 Connect.

http://www.8020connect.com/groups/synstream-energy-corp/

For further information, contact:

Shane Ferster

Chief Executive Officer

(403) 880-7237

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 READER ADVISORY

 

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.