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.