Syntaris Power Corp. (“Syntaris”) is pleased to announce the financial closing of the transaction announced on July 13, 2011. This transaction involved the sale of 18 projects to Blu Earth Renewables. Syntaris shareholders overwhelmingly approved the transaction at a Shareholder meeting on August 12, 2011.
Financial close, following Shareholder approval, allows the final stages of the company’s corporate restructuring to move forward. As previously stated, the objective of the Company’s restructuring plan is to stabilize the finances of the Company, preserve shareholder value and plan for the long-term sustainability and future growth of the Company.