SynStream Energy Corp.

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SynStream Energy Corp is developing Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. Making premium zero sulfur, high cetane synthetic diesel from Alberta natural gas. Welcome to our Investor Group!

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SynStream Energy Corp.

lockPrivateGroup

SynStream Energy Corp is developing Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. M......

people59 Members        (0)

Media Relations posted a press release Synstream Energy Corp. Announces Intention to Proceed with Share Consolidation and Make Application to TSX-Venture Exchange in Relation to Potential Change of Business in SynStream Energy Corp.

Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM) announced today that, subject to regulatory approval, management expects to proceed with a share consolidation approved by shareholders at the Corporation’s annual general meeting held in 2016.  The resolution approved at that time authorized management to consolidate the outstanding shares on a 1 for 10 or lesser ratio as the Board of Directors may determine. Presently, the Board intends to pursue a consolidation on a 1 for 5 basis, but intends to consult with both counsel and the TSX-Venture Exchange to ensure the viability of this action based on the date and terms of that resolution.

In concert with taking this step, management intends to further consult with the Exchange for the purpose of assessing potential change of business opportunities identified by the Company and to coordinate pursuit of those opportunities with the planned share consolidation and the change of name approved by shareholders at the Annual General meeting held on March 5, 2018.  At this time there are no assurances that any definitive agreement will be reached with any company and no assurances that any financing alternatives will be identified or secured to permit the Company to proceed with the development of any new business opportunities.

 

For further information, contact:

Johannes Kingma

Chief Executive Officer

(403) 612-5655

 

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. 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.

 


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

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8020 Admin

7 months

8020 Admin posted a News Item SHM News Alert: Announces Agreement with Byte Power Group in SynStream Energy Corp.

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

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8020 Admin

8 months

8020 Admin posted a News Item SHM News Alert: Announces Termination of Non-Binding Letter of Intent in SynStream Energy Corp.

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)

To follow Synstream Energy Corp. on your favorite social media platform or financial websites, please click on the icons below. 

 


 

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Copyright © 2017 FSCwire





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Media Relations posted a News Item SHM News Alert: Announces Non-Binding Letter of Intent in 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)

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Media Relations posted a News Item SHM News Alert: Synstream Energy Corp. Announces Changes to Management; Intention to Review Business Development Option in SynStream Energy Corp.

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)

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8020 Admin

12 months

8020 Admin posted a News Item Synstream Energy Corp. Announces Resignation of CEO and Appointment of Interim CEO in SynStream Energy Corp.

Synstream Energy Corp. Announces Resignation of CEO and Appointment of Interim CEO

Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM), announced today that, effective immediately, Mr. Shane Ferster has resigned as a director and Chief Executive Officer of the Company.  The Company wishes to thank Mr. Ferster for his dedication and commitment.

On an interim basis, the Board of Directors has elected James Ross, a current director, to the position of Chief Executive Officer and Chairman of the Board.

 

For further information, contact:

James Ross

Chief Executive Officer

(403) 870-1202

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Media Relations posted an update in SYNSTREAM ENERGY CORP.

1 year

Natural gas pipeline challenges escalate yet again!!! (see article for full story) Let's change the dialogue. Natural gas requires pipelines and cryogenics (not to mention$$$) to move to overseas buyers. Synthetic diesel will use existing infrastructure, utilize Alberta natural gas and do its part in reducing the environmental impact from the burning of fossil fuels.

http://ow.ly/XdeN30diPgA

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Darren Stewart posted a News Item Chemical Engineer Comment on GTL Facitlites in SynStream Energy Corp.

Technically LNG (Liquified Natural Gas) delivers more energy (~80% from well head to market) as compared to GTL (Gas to Liquids)  (~ 60% from well head to market), but economics for both these technologies are different.

Natural gas is sold in $/mmbtu, based upon the energy content of the natural gas as measured in British Thermal Units. GTL produces drop-in fuels like Gasoline and Diesel, which are sold in $/gallon. When the cost of gasoline or diesel is converted to $/mmbtu from $/gallon, there is a significant difference in the value.

This doesn't always mean that GTL is better than LNG. Factors like return on investment (CAPEX involved is different in both cases), future pricing predictions, local demand (electricity generating companies will prefer LNG to fuels) etc. will play a role in deciding the way in which gas can be monetised.

As an extension to this question, it looks like GTL looks promising when compared to conventional refining process as well (Viability of GTL for the North American gas market) :

 

New technological achievements in shale gas recovery have led to an oversupply of natural gas in an isolated North American market. This has caused an unprecedented disconnect between oil and gas prices. Economic evaluations have shown that the wide spread between oil and gas prices is making GTL viable at a broad range of CAPEX values. GTL installations are economically feasible at low natural gas prices and high forecast oil prices, even at lofty CAPEX values of around $200,000/bpd. New developments in Fischer Tropsch (FT) technology will enable economically viable GTL facilities at a smaller scale, compared to existing industrial facilities.

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Darren Stewart posted an update in SYNSTREAM ENERGY CORP.

1 year

Did you know? Shell's Pearl GTL facility, in Qatar, is the world's largest plant to turn natural gas into cleaner-burning fuels and lubricants. The plant produces cleaner-burning diesel and aviation fuel, oils for advanced lubricants, naphtha to make plastics, and paraffin for detergents. It makes enough diesel to fill over 160,000 cars a day and enough synthetic oil each year to make lubricants for more than 225 million cars. I want one in Alberta! just smaller.

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SynStream Energy Corp.

lockPrivate Group

SynStream Energy Corp is developing Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. Making premium zero sulfur, high cetane synthetic diesel from Alberta natural gas. Welcome to our Investor Group!

people59 Members        (0)

Corporate Profile
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Request Membership


SynStream Energy Corp.

lockPrivateGroup

SynStream Energy Corp is developing Canada’s first small-scale commercial Enhanced GTL® (“EGTL™”) plant in Alberta. M......

people59 Members        (0)

Media Relations posted a press release Synstream Energy Corp. Announces Intention to Proceed with Share Consolidation and Make Application to TSX-Venture Exchange in Relation to Potential Change of Business in SynStream Energy Corp.

Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM) announced today that, subject to regulatory approval, management expects to proceed with a share consolidation approved by shareholders at the Corporation’s annual general meeting held in 2016.  The resolution approved at that time authorized management to consolidate the outstanding shares on a 1 for 10 or lesser ratio as the Board of Directors may determine. Presently, the Board intends to pursue a consolidation on a 1 for 5 basis, but intends to consult with both counsel and the TSX-Venture Exchange to ensure the viability of this action based on the date and terms of that resolution.

In concert with taking this step, management intends to further consult with the Exchange for the purpose of assessing potential change of business opportunities identified by the Company and to coordinate pursuit of those opportunities with the planned share consolidation and the change of name approved by shareholders at the Annual General meeting held on March 5, 2018.  At this time there are no assurances that any definitive agreement will be reached with any company and no assurances that any financing alternatives will be identified or secured to permit the Company to proceed with the development of any new business opportunities.

 

For further information, contact:

Johannes Kingma

Chief Executive Officer

(403) 612-5655

 

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. 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.

 


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

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8020 Admin

7 months

8020 Admin posted a News Item SHM News Alert: Announces Agreement with Byte Power Group in SynStream Energy Corp.

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

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8020 Admin

8 months

8020 Admin posted a News Item SHM News Alert: Announces Termination of Non-Binding Letter of Intent in SynStream Energy Corp.

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)

To follow Synstream Energy Corp. on your favorite social media platform or financial websites, please click on the icons below. 

 


 

Maximum News Dissemination by FSCwire. http://www.fscwire.com

 

Copyright © 2017 FSCwire





News Provided by FSCwire via QuoteMedia

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Media Relations posted a News Item SHM News Alert: Announces Non-Binding Letter of Intent in 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)

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Media Relations posted a News Item SHM News Alert: Synstream Energy Corp. Announces Changes to Management; Intention to Review Business Development Option in SynStream Energy Corp.

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)

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8020 Admin

12 months

8020 Admin posted a News Item Synstream Energy Corp. Announces Resignation of CEO and Appointment of Interim CEO in SynStream Energy Corp.

Synstream Energy Corp. Announces Resignation of CEO and Appointment of Interim CEO

Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM), announced today that, effective immediately, Mr. Shane Ferster has resigned as a director and Chief Executive Officer of the Company.  The Company wishes to thank Mr. Ferster for his dedication and commitment.

On an interim basis, the Board of Directors has elected James Ross, a current director, to the position of Chief Executive Officer and Chairman of the Board.

 

For further information, contact:

James Ross

Chief Executive Officer

(403) 870-1202

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Media Relations posted an update in SYNSTREAM ENERGY CORP.

1 year

Natural gas pipeline challenges escalate yet again!!! (see article for full story) Let's change the dialogue. Natural gas requires pipelines and cryogenics (not to mention$$$) to move to overseas buyers. Synthetic diesel will use existing infrastructure, utilize Alberta natural gas and do its part in reducing the environmental impact from the burning of fossil fuels.

http://ow.ly/XdeN30diPgA

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Darren Stewart posted a News Item Chemical Engineer Comment on GTL Facitlites in SynStream Energy Corp.

Technically LNG (Liquified Natural Gas) delivers more energy (~80% from well head to market) as compared to GTL (Gas to Liquids)  (~ 60% from well head to market), but economics for both these technologies are different.

Natural gas is sold in $/mmbtu, based upon the energy content of the natural gas as measured in British Thermal Units. GTL produces drop-in fuels like Gasoline and Diesel, which are sold in $/gallon. When the cost of gasoline or diesel is converted to $/mmbtu from $/gallon, there is a significant difference in the value.

This doesn't always mean that GTL is better than LNG. Factors like return on investment (CAPEX involved is different in both cases), future pricing predictions, local demand (electricity generating companies will prefer LNG to fuels) etc. will play a role in deciding the way in which gas can be monetised.

As an extension to this question, it looks like GTL looks promising when compared to conventional refining process as well (Viability of GTL for the North American gas market) :

 

New technological achievements in shale gas recovery have led to an oversupply of natural gas in an isolated North American market. This has caused an unprecedented disconnect between oil and gas prices. Economic evaluations have shown that the wide spread between oil and gas prices is making GTL viable at a broad range of CAPEX values. GTL installations are economically feasible at low natural gas prices and high forecast oil prices, even at lofty CAPEX values of around $200,000/bpd. New developments in Fischer Tropsch (FT) technology will enable economically viable GTL facilities at a smaller scale, compared to existing industrial facilities.

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Darren Stewart posted an update in SYNSTREAM ENERGY CORP.

1 year

Did you know? Shell's Pearl GTL facility, in Qatar, is the world's largest plant to turn natural gas into cleaner-burning fuels and lubricants. The plant produces cleaner-burning diesel and aviation fuel, oils for advanced lubricants, naphtha to make plastics, and paraffin for detergents. It makes enough diesel to fill over 160,000 cars a day and enough synthetic oil each year to make lubricants for more than 225 million cars. I want one in Alberta! just smaller.

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