CORPORATE UPDATE: Syntaris Power Announces Second Strategic Transaction

Syntaris Power Corp. is pleased to announce that it has entered into a Purchase and Sale Agreement, dated June 29, 2011, with a Canadian Independent Power Company. This second strategic transaction involves the proposed sale of 18 of the company’s projects so ratification of this agreement is subject to shareholder approval (the Board of Directors is unanimously recommending). 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. Registered shareholders of Syntaris will be notified of the transaction details via an Information Circular that was mailed out on Friday July 8th. Closing of the proposed transaction is subject to several conditions precedent as described in the information circular, including receipt of shareholder approval of the transaction from 66.7% of the votes cast at the meeting.