Synergy Acquisition Corp.
NEX BOARD : SAQ.H

October 10, 2013 22:18 ET

Synergy Acquisition Corp. Announces Completion of RTO and Private Placements

MONTREAL, QUEBEC--(Marketwired - Oct. 10, 2013) - Synergy Acquisition Corp. ("Synergy" or the "Corporation") (NEX:SAQ.H) is pleased to announce that it has completed today its previously announced transactions, including the arm's length acquisition of a significant number of mining claim assets, private placements and reverse take-over of the Corporation (the "Transactions"). Reference should be made to the Corporation's press release of July 16, 2013 for further details on the Transactions.

About the Transactions

Synergy has purchased all the rights and interest in approximately 2,950 mining claims located in the Province of Quebec (the "Claims") from 9248-7792 Quebec Inc. ("9248") and 9257-1256 Quebec Inc. ("9257") ("9248" and "9257" hereinafter collectively, "Quebec Co.") for an aggregate consideration of 10,000,000 common shares of Synergy to be issued at a deemed price of $0.06 per share in accordance with two definitive claims purchase and rollover agreements entered into between the respective parties.

Concurrent with the closing of the Transactions, Synergy has completed two non-brokered private placements, (the "Offerings"), raising total gross proceeds of $167,500 through the issuance of 3,250,000 Synergy common shares at $0.05 per common share and 50,000 Synergy common shares at $0.10 per common share. All subscribers in the Offering were arms-length accredited investors except for one current director who subscribed for 500,000 Synergy common shares at $0.05 per common share.

Following completion of the Transactions, Quebec Co. owns approximately 60.4% of the issued and outstanding common shares of Synergy (the "Synergy Shares").

The Corporation has obtained the written consent of the holders of a majority of its voting shares approving the Transactions and the listing of the Corporation on the Canadian National Stock Exchange ("CNSX"). The TSX Venture Exchange has conditionally approved the Corporation's application for voluntary delisting from NEX and the CNSX has conditionally approved the Corporation's listing on the CNSX.

Further information, including the composition of the new board of directors and officers of the Corporation, will be provided in a subsequent press release once the listing on CNSX is effective.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Synergy believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Synergy disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

About Synergy

The Corporation currently holds multiple property interests in gold, base-metal and strategic metals projects in the Province of Quebec.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information