Syntholene Energy Corp. Announces $2.0 Million Non-Brokered Private Placement

Got story updates? Submit your updates here. ›

Syntholene Energy Corp. announced a non-brokered private placement of up to $2.0 million. The financing is expected to consist of the issuance of units at $0.45 per unit, with each unit comprising one common share and one non-transferable common share purchase warrant. The proceeds will be used for procurement and assembly of components for the company's planned demonstration facility in Iceland, as well as corporate marketing initiatives, investor relations, and working capital.

Why it matters

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis, with the goal of delivering the world's first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale. This financing will help accelerate the company's plans to deploy its demonstration facility in Iceland, a key step in unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels.

The details

The financing is expected to consist of the issuance of up to $2.0 million in units, with each unit comprising one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of $0.63 for a period of two years from the date of issuance, subject to an acceleration provision. The proceeds will be used for procurement and assembly of components for the company's planned demonstration facility in Iceland, as well as corporate marketing initiatives, investor relations, and working capital.

• The financing is expected to be completed in February 2026.

What they’re saying

What’s next

The company expects to receive approval from the TSX Venture Exchange for the financing and to complete the issuance of the units in the coming weeks.