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Synstream Energy Corp

Exchange: TSXV Exchange | Aug 18, 2017, 11:29 PM EDT

SHM
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Early Warning News Release





Early Warning News Release

In Accordance With National Instrument 62-103



Calgary, Alberta (FSCwire) - Synstream Energy Corp. (“Synstream” or the “Company”) (TSXV:SHM) Pursuant to a private option to purchase common shares agreement executed December 1st, 2016 (the “Agreement”), James Ross, a director of the Company, and Shane Ferster, the Chief Executive Officer of the Company, each acquired a limited right (each, an “Option”, and in relation to the Options together, the “Options”) to purchase up to 2,935,644 common shares in the capital of the Company (the “Common Shares”) from four individual holders of such Common Shares of Synstream.

 

Under the Agreement, James Ross, a director of the Company, acquired an Option to purchase up to 2,935,644 Common Shares at a price of: (i) $0.10 per Common Share if such option is exercised on or before May 1, 2017, or (ii) $0.15 per Common Share if such option is exercised after May 1, 2017. Should Mr. Ross exercise the Option, he will hold 7,855,644 Common Shares of the Company, representing 22.25% of the Common Shares currently issued and outstanding. Without giving effect to the Option, Mr. Ross holds 4,920,000 Common Shares of the Company, representing 13.93% of the Common Shares currently issued and outstanding, as well as 500,000 incentive stock options.

 

Mr. Ross entered into the Agreement to purchase the Option for investment purposes. He may increase or decrease his ownership of securities of Synstream in the future, depending upon market conditions. There are no persons acting jointly or in concert with Mr. Ross with respect to his shareholdings in Synstream, nor has he entered into any agreements in respect of his shareholdings in Synstream with any other person or persons that is not otherwise disclosed herein.

 

Under the Agreement, Shane Ferster, the Chief Executive Officer of the Company, acquired an Option to purchase up to 2,935,644 Common Shares at a price of: (i) $0.10 per Common Share if such option is exercised on or before May 1, 2017, or (ii) $0.15 per Common Share if such option is exercised after May 1, 2017. Should Mr. Ferster exercise the Option, he will hold 2,935,644 Common Shares of the Company, representing 8.31% of the Common Shares currently issued and outstanding. Without giving effect to the Option, Mr. Ferster holds no Common Shares of the Company and 400,000 incentive stock options.

 

Mr. Ferster entered into the Agreement to purchase the Option for investment purposes. He may increase or decrease his ownership of securities of Synstream in the future, depending upon market conditions. There are no persons acting jointly or in concert with Mr. Ferster with respect to his shareholdings in Synstream, nor has he entered into any agreements in respect of his shareholdings in Synstream with any other person or persons that is not otherwise disclosed herein.

 

The Options shall terminate and be of no further force or effect in the event they are not exercised by 4:30 pm MDT on November 1, 2017.  The address for both Mr. Ross and Mr. Ferster is c/o Suite 2500, 520 - 5th Avenue S.W. Calgary, Alberta T2P 3R7.

 

For further information or to receive a copy of the early warning reports filed by each of Messrs. Ross and Ferster with applicable securities regulatory authorities in Canada in connection with this press release, please contact:

 

Shane Ferster

Chief Executive Officer

(403) 880-7237

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/SynstreamPR12012016.pdf

Source: SynStream Energy Corp. (TSX Venture:SHM)

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