Synodon Inc.
TSX VENTURE : SYD

Synodon Inc.

July 15, 2014 13:31 ET

Synodon Closes Tranche of Previously Announced Private Placement of Units

EDMONTON, ALBERTA--(Marketwired - July 15, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Synodon Inc. ("Synodon") (TSX VENTURE:SYD), a developer of advanced remote sensing technologies is pleased to announce a closing tranche for aggregate gross proceeds of $460,275 on the previously announced private placement of units (the "Units") at a price of $0.255 per Unit. The Units are comprised of one Class A common share (a "Share") and one half of one Share purchase warrant. Each whole warrant issued on this closing tranche (a "Warrant") entitles the holder to purchase one additional Share of the Corporation at an exercise price of $0.375 per Share until July 11, 2015.

The Shares and Warrants comprising the Units issued on this closing tranche are subject to a four month statutory hold period which expires on November 12, 2014.

In connection with this closing tranche, finder's fees totaling $2,550 were paid and 10,000 finder's warrants were issued. Each finder's warrant issued on this closing tranche entitles the holder to purchase one additional Share of the Corporation at an exercise price of $0.255 per Share until July 11, 2015.

Synodon Inc. (www.synodon.com) is a technology company that has developed an advanced airborne remote gas sensing system called realSens™, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company provides a full service gas emissions monitoring and quantification services to a variety of industries, including hydrocarbon (oil and gas), environmental and agriculture, and for a variety of gases including methane, ethane and ammonia.

Neither 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.

The news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable securities laws.

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 Corporation's periodic filings with Canadian securities regulators, which could cause actual results or events to differ materially from these indicated by such forward-looking statements. The Corporation believes that the expectations reflected in this news release are reasonable including any further tranche closings of the offering on the terms contemplated, but actual results may be affected by a variety of variables and risks such as the inability to obtain subscriptions on the terms proposed, loss of market, changes in the equity markets in general, general economic conditions, timing of applications and approvals (including the approval of the TSX Venture Exchange) as well as risks and variables associated in general with the Corporation's industry. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Unless otherwise required by applicable securities laws, the Corporation does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results, circumstances or otherwise.

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