VANCOUVER, April 26 /CNW/ - Synex International Inc. announces that the Barr Creek Project is to be developed, constructed, owned and operated by the Barr Creek Limited Partnership ("BCLP") and its general partner, Barr Creek Hydro Ltd ("BCHL"). Synex Energy Resources Ltd. ("Synex Energy"), a wholly owned subsidiary of Synex International Inc., currently holds all of the interests in BCLP and BCHL.
The Barr Creek Project is a proposed 4.6MW run of river hydroelectric project An electricity purchase agreement with BC Hydro is in place and a Conditional Water Licence and land tenures were recently received.
Effective March 31, 2010, Synex Energy and the Ehattesaht First Nation (the "Ehattesaht") entered into agreements under which Synex Energy and the Ehattesaht will subscribe for units and shares in BCLP and BCHL prior to August 31, 2010. After subscription, Synex Energy will own 80% and the Ehattesaht will own 20% of each of BCLP and BCHL. After 35 years of operations, the Ehattesaht First Nation would achieve a majority interest in BCLP and BCHL.
Synex International Inc. is a public company trading 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
SOURCE Synex International Inc.
For further information: For further information: 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