VANCOUVER, Nov. 20 /CNW/ - Synex International Inc. announces that two of
its wholly owned subsidiaries, Synex Energy Resources Ltd. and Kyuquot Power
Ltd. have entered a Term Sheet with the Ka:'yu:'k't'h'/Che:k:tles7et'h' First
Nation under which the subsidiaries are to receive a combined amount of
$1,000,000 in each of the next three years. Kyuquot Power Ltd. ("KPL") will
continue to operate as the electrical utility but with a significantly lower
investment. The Ka:'yu:'k't'h'/Che:k:tles7et'h' First Nation will purchase
electricity from KPL at a reduced cost to reflect their contribution towards
the capital cost of the powerline.
KPL owns and operates an electrical distribution utility serving the
Kyuquout area on the west coast of Vancouver Island. The utility distributes
and sells electricity using its $3.8 million powerline which is connected to
the BC Hydro integrated grid.
Synex International Inc. is a public company trading on the Toronto Stock
Exchange (TSX) with businesses involved with the development, ownership and
operation of electrical generation facilities, as well as the provision of
consulting engineering services in water resources, particularly for
hydroelectric and other power facilities.
Greg Sunell, President
This press release contains forward-looking statements that involve risks
and uncertainties. These statements reflect our current expectations and are
subject to change. They are subject to a number of risks and uncertainties
including, but not limited to, changes in economic conditions, risks
associated with the construction and operation of hydroelectric facilities and
changes in government policies.
For further information:
For further information: Greg Sunell, President, 400 - 1444 Alberni
Street, Vancouver, BC, V6G 2Z4, Phone (604) 688-8271 Ext. 372, Fax (604)
688-1286, E-mail: email@example.com, Web Site: www.synex.com