Synodon Inc.
TSX VENTURE : SYD

Synodon Inc.

December 03, 2014 07:00 ET

Synodon Signs Collaboration Agreement With Spanish Pipeline Service Company

EDMONTON, ALBERTA--(Marketwired - Dec. 3, 2014) - Synodon Inc. ("Synodon") (TSX VENTURE:SYD) announces that at an earlier ceremony organized by the Managing Director of the Agency for Local Development ("PROMALAGA") for the City of Málaga, it has signed a Collaboration Agreement with Aganova Grupo ("Aganova"), a natural gas and water pipeline inspection service provider headquartered in Malaga, Andalucía, Spain.

Through this agreement, Synodon and Aganova will jointly market Synodon's realSens aerial integrity management services to the Spanish pipeline operators. Based on early customer feedback, the services of interest include aerial gas and liquids leak detection as well as the auxiliary airborne integrity management services including aerial photography analysis for pipeline threat detection, right-of-way change detection, vegetation encroachment, water crossing analysis and others.

"This agreement is the result of a number of market assessment discussions that were held with Spanish pipeline operators together with Aganova and is the first step forward in establishing a foothold in the Spanish market," stated Adrian Banica, CEO of Synodon Inc. "We are very pleased with the initial response and are looking forward to working with Aganova and leveraging the market position they built over the years."

"We are looking forward to working closely with Synodon at introducing their aerial pipeline integrity management solution to the Spanish operators which combined manage around 60,000 kilometers of pipelines," stated Agustin Ramirez, General Director of Aganova.

Synodon Inc. (www.synodon.com) is a technology company which 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 currently provides advanced airborne pipeline integrity management services to the oil and gas sector through a suite of services including natural gas and liquid hydrocarbon leak detection, pipeline threat assessments, and waterway crossings analysis among others.

Aganova Grupo (www.aganova.es) is a provider of inspection and leak detection services for the natural gas, oil and water pipeline sectors primarily in Spain but also in Colombia and Uruguay. The company has developed its own technology system called Nautilus, a rolling sonic sensor travelling freely through the pipe while detecting, locating and recording small leaks in water and oil transportation networks.

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.

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 the sales cycle which is expected in the future, based on past patterns, but actual results may be affected by a variety of variables and risks such as the individual circumstances of each customer's business, any increase in competition, general economic conditions, 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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