Synodon Inc.

Synodon Inc.

December 18, 2008 15:00 ET

Synodon Secures $1.3 Million Investment From AVAC, Issues Options

EDMONTON, ALBERTA--(Marketwire - Dec. 18, 2008) - Synodon Inc. ("Synodon") (TSX VENTURE:SYD), is pleased to announce that AVAC Ltd., through its Capacity Builder program, has committed a $1.3 million investment to the realSensTM project. The investment will be used to support the deployment of the technology into the commercial marketplace.

Adrian Banica, Synodon President and CEO said, "We are very pleased with the investment that AVAC is providing to Synodon, as it allows us to focus on signing our first commercial revenue contracts and subsequently expanding our business."

The investment is milestone based and is received upon successful completion of technical and marketing milestones. The investment is repayable by way of a revenue royalty of 1.5%, beginning in October 2009.

The Company also issued to its CFO, Nimal Rodrigo, 300,000 incentive options ("Options") to purchase common shares, exercisable at $0.30 per Option. The Options have been issued pursuant to Synodon's Share Option Plan and will vest over a 13 month period.

The development of the realSens™ technology is supported in part by Sustainable Development Technology Canada, an arms-length not-for-profit corporation created by the Government of Canada. Natural Resources Canada and other Government of Canada initiatives have also provided financial support.

Synodon Inc. ( 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.

AVAC Ltd. ( is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion of Alberta's value-added agribusiness, ICT, life sciences, and other industrial technology sectors. AVAC also participates in commercially-relevant agricultural research and is a strategic fund-of-fund investor in early stage venture capital. Created in 1997, AVAC has invested in over 100 early-stage companies, 47 agriculture research programs and projects, and 3 venture capital funds to date.

Should you wish to receive Company news via email, please email and specify "Synodon." in the subject line or contact the Company directly.

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.

Contact Information