Synergy Acquisition Corp.

Synergy Acquisition Corp.

December 27, 2013 19:00 ET

Synergy Acquisition Corp. Closes Non-Brokered Private Placement for Gross Proceeds of $509,000

MONTREAL, QUEBEC--(Marketwired - Dec. 27, 2013) - Synergy Acquisition Corp. (the "Corporation") (CNSX:QMP) is pleased to announce it has closed the previously announced (December 23, 2013) non-brokered private placement (the "Private Placement") that raised gross proceeds of $509,000 through the sale of 2,545,000 units (the "FT Units") at a price of $0.20 per FT Unit and 21,111 non flow-through units (the "Units") at a price of $0.18 per Unit. Each FT Unit consists of one common share of the Corporation issued as a "flow-through share" and one non flow-through common share purchase warrant (the "Warrant"). Each Unit consists of one common share of the Corporation and one common share purchase warrant. Each Warrant is exercisable to acquire one common share of the Corporation that is not a "flow- through share" ("Common Share") at an exercise price of $0.30 per Common Share for a period of 24 months after the date of closing of the transaction. Proceeds of the flow-through private placement will be used for Qualifying Canadian Exploration Expenses and the balance of the proceeds will be used for general corporate purposes.

The Corporation has paid a finder's fee equal to 10% of gross proceeds in cash and issued finder warrants (the "Finder's Warrants") to the Finder equal to 10% of the Units and FT Units subscribed for by persons introduced to the Corporation by the Finder. Each Finder's Warrant will be exercisable to purchase one additional common share at $0.18 per share for a period of one (1) year from closing.

All securities issued in the Private Placement will be subject to a four-month hold to April 28, 2014, pursuant to applicable securities laws.

About Synergy

Synergy targets the excellent mineral potential of Quebec to make discoveries of new world-class deposits. Synergy is the ideal partner for exploration companies as well as for capital pool companies looking for qualified transaction projects of merit. Synergy intends to enter into other agreements with respect to its properties. Management is currently evaluating other growth opportunities among its portfolio of mineral properties newly acquired to enhance shareholders' value in the short term.

This press release contains certain forward-looking statements that involve a number of risks and uncertainties, and there can be no assurance that such statements will prove accurate. As a result, actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties are described in the annual report and in the filings made by the Company with securities regulatory authorities.

Neither the CNSX Exchange nor its Regulation Services Provider accepts responsibility whatsoever for the adequacy or accuracy of this release.

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