Archive for 'News'

Synodon Signs Multi-Year, Triannual Contract with Oil Pipeline Operator

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Edmonton, Alberta
April 30, 2015

Synodon Inc. (“Synodon”) [TSXV-SYD] announces that it has signed a 3-Year contract with an existing customer for realSensTM integrity services covering the customer’s oil pipeline infrastructure as well as their smaller natural gas network. The new contract expands the frequency of surveys from one to three times per year and is testament to the market’s adoption of Synodon’s oil leak detection offering in addition to the well-established gas leak detection capabilities of its realSensTM instrument.“This agreement ...

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Synodon announces the settlement of its outstanding obligation to AVAC

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Edmonton, Alberta
April 15, 2015

Synodon Inc. (“Synodon”) [TSXV-SYD] announces that it has reached an agreement with AVAC Ltd. to exit from its investment agreement and settle its repayment obligation of a royalty on revenue for an amount that management believes approximates the estimated net present value of the outstanding commitment to AVAC. The agreement provides that the first priority security on

Synodon’s assets will be released.

For more information, please contact:
Synodon Inc.
Adrian Banica
President
Phone: 780.468.9568

Forward-Looking Statements

This press release includes ...

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Synodon Announces Closing of Financing

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Edmonton, Alberta April 6, 2015

Synodon Inc. (“Synodon”) [TSXV-SYD] announces the closing of the previously announced $3 million bridge loan facility (the “Bridge Loan”) with Cranberry Capital Inc. (“Cranberry Capital”), a private Canadian holding company owned by Mr. Paul van Eeden. The Bridge Loan has been put in place to ensure the continuing operations of Synodon and allow it to proceed with the construction of two additional realSens™ instruments until such time as more permanent capital can be put in place. ...

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Synodon announces appointment of Executive Chairman

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The Board of Directors of Synodon Inc. (TSX.V: SYD) is pleased to announce the appointment of Mr. Paul van Eeden as Executive Chairman of the company. Ms. Nancy Laird, the current Chair of Board, has been appointed as the company’s Lead Director. In a press release on March 2, 2015, Synodon announced the company’s financial results for the year ended October 31, 2014. This included encouraging growth in revenues resulting in a profitable fourth quarter.

Ms. Laird commented: “The three-fold growth ...

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Synodon generates positive net income in Q4- 2014.

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PRESS RELEASE
FOR IMMEDIATE RELEASE

Edmonton, Alberta
March 2, 2015

Fiscal 2014 financial highlights
Fiscal 2014 operational highlights
  • Revenue grew 186% to $2,084,551
  • Gross profit increased 276% to $1,379,326
  • Gross margin increased to 66%
  • Net loss declined 36%
  • Average survey km/client increased 170%
  • Average revenue per survey km increased 6%
  • Surveyed 28,853 kilometers of pipeline
  • FAA approval for more efficient helicopter
  • Ordered two more realSens™ instruments

Synodon Inc. (TSXV: SYD) today ...

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