As stated in our April 26th update, the company is active and working hard to build value for our shareholders. We remain committed to a focused set of manageable priorities that have been targeted for their potential to add value to the company in the near term and also because of their proximity to anticipated electricity demand in the near future.
More specifically, with regard the company’s project portfolio we can disclose the following:
- The company has received confirmation from Front Counter B.C. that its re-sizing (increased to 90 MW’s) and re-application for the Kinskuch RIver/Lake project has been accepted by the government. The companies re-filing was necessitated by the requirement for a new transmission plan due to the sale of some assets in the Blu Earth transaction;
- The company has signed two exclusivity agreement with First Nations with regard the Kinskuch River/Lake project. We feel these relationships and agreements position the company to progress the project;
- We have proceeded with filing new Investigative Use Permits (IUP’s), per Provincial Government requirements, for the remainder of Syntaris” project portfolio. This puts the company in compliance with current government requirements at this time; and
- Finally, with regard the project portfolio, the company remains in discussion with several large developers regarding Syntaris’s project portfolio.
As well, we would like to announce that Roger Harris has been assisting the company as President of the Kinskuch Project Team. Roger’s involvement has led to significant progress with First Nations relationships and agreements and we look forward to further progress on the Kinskuch project moving forward.
Finally, we apologize for delay in calling an AGM (as we stated we would in our June 4th update). Circumstances surrounding the details outlined above led to a series of delays which stretched beyond the summer and fall months. It is still the companies intent to hold an AGM when further substantive details can be communicated.
Thank you for your continued support as shareholders and we look forward to providing more updates to you moving forward.