TSX : SXI
VANCOUVER, June 28 /CNW/ - Synex International Inc. announces that its
wholly owned subsidiary, Synex Energy Resources Ltd., has executed a
commitment letter with the Canadian Western Bank under which the Canadian
Western Bank will loan up to $3.5 million for the Cypress Creek Hydro Project.
The Cypress Creek Hydro Project, a 2.8 MW hydroelectric plant located on
Vancouver Island, British Columbia, is currently under construction with a
scheduled completion date of November 2007. The total project cost is
estimated at $7.2 million. The plant output is expected to be contracted to BC
Hydro under the Standing Offer Call. The Standing Offer Call is anticipated to
be available during late 2007.
Synex International recently closed a private placement in the amount of
$2,304,060 which will provide funds for the Cypress Creek Hydro project and to
advance existing and future hydro electric opportunities as well as for
general corporate purposes.
Synex International Inc. is a public company listed on the TSX with
businesses that cover the development, ownership and operation of electrical
generation facilities and the provision of consulting engineering services in
water resources, particularly hydroelectric facilities.
Greg Sunell, President
For further information:
For further information: Greg Sunell, President, 400 - 1444 Alberni
Street, Vancouver, BC, V6G 2Z4, Phone (604) 688-8271 Ext. 309, Fax (604)
688-1286, E-mail: email@example.com, Web Site: www.synex.com