Synodon Inc.
TSX VENTURE : SYD

Synodon Inc.

October 10, 2008 20:23 ET

Synodon Closes $820,993 Private Placement

EDMONTON, ALBERTA--(Marketwire - Oct. 10, 2008) - Synodon Inc. ("Synodon")(TSX VENTURE:SYD), a developer of advanced remote sensing technologies, announces that it has closed a non-brokered private placement for gross proceeds of $820,993.95. The closing was comprised of 1,824,431 "Units" at $0.45 per Unit. The Units are comprised of one Class A common share and 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 $0.75 per share for a period of two years, expiring October 8, 2010.

The Warrants are subject to an acceleration right, such that if the closing price of the common shares is greater than $1.05 on any day subsequent to October 8, 2008, Synodon may give notice to the holders of the Warrants that the expiry date for exercise has been accelerated and the Warrants will expire on the thirtieth business day following the date of such notice.

The common shares and Warrants issued pursuant to the private placement are subject to a four month statutory hold period which expires on February 8, 2009. The Corporation issued 4,410 Warrants and paid cash finder's fees totaling $4,132.45 in connection with the sale of the Units.

The proceeds will be used by Synodon for working capital.

Synodon Inc. (www.synodon.com) is an Edmonton based technology company which has developed and demonstrated an advanced airborne remote gas sensing system called realSens™, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company will provide gas emissions monitoring and quantification services to a variety of industries, including hydrocarbon (oil and gas), environmental, agricultural and for a variety of gases including methane, ethane and ammonia. The initial focus is on the hydrocarbon industry and in particular the natural gas pipeline sector.

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Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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