Due to unfavourable market conditions, unforeseen circumstances related to potential strategic partnerships and the company’s challenges to raise capital, Syntaris Power intends to undertake a corporate restructuring. This corporate restructuring may involve a downsizing of the company, a sale of one or more of its assets and/or a new partnership arrangement for some or all the company’s project portfolio. The objective of this corporate restructuring is to stabilize the company, better preserve shareholder value and plan for the long term sustainability and future growth of the company.
We anticipate this restructuring may take between 6 to 8 weeks. The company is committed to providing its employees, stakeholders and shareholders with further corporate updates on a going-forward basis via our website.
If you have any questions please contact the following:
– External Vendors – Bill Grossholz, Controller (bgrossholz@syntaris.com)
– Investor Inquiries – Bob Fraser, Chief Executive Officer (bfraser@syntaris.com)
