EDMONTON, Sept. 19 /CNW/ - Synodon Inc. ("Synodon") (TSXV-SYD), a
developer of advanced remote sensing technologies, announces that it has
closed a non-brokered private placement for gross proceeds of $270,750. The
closing was comprised of 492,271 units at $0.55 per unit. The Units are
comprised of one Class A common share and one half of one Class A common share
purchase warrant (the "Warrants"). Each whole Warrant entitles the holder to
purchase one additional Class A common share of the Corporation at a price of
$0.80 per share for a period of two years from the date of issue.
The common shares and Warrants issued pursuant to the private placement
are subject to a four month statutory hold period which expires on January 14,
2008. The Corporation paid cash finder's fees totaling $11,435 in connection
with the sale of the Units.
The proceeds will be used by Synodon to finalize the testing of its
realSens technology and initiate the commercialization effort.
Synodon Inc. (www.synodon.com) is an Edmonton based technology company
which is developing an advanced natural gas pipeline leak detection system
called realSensTM, based on correlation spectroscopy technologies developed
under the Canadian Space Program and by Synodon scientists.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Adrian Banica, President and CEO, Synodon Inc.,
Telephone: (780) 468-9568, Email: firstname.lastname@example.org