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Synex International closes private placement
11:44 EST Monday, February 14, 2005
TSE : SXI
VANCOUVER, Feb. 14 /CNW/ - Synex International Inc. has closed a private placement in the amount of $1,037,500, which will result in the issuance of 2,500,000 common shares. The common shares were priced at $0.415 per share and are restricted from trading for a period of four months from issuance. There are no agency fees payable. The private placement is subject to final approval by the Toronto Stock Exchange ("TSX"). The TSX has accepted notice of private placement subject to certain closing conditions occurring before March 15, 2005.
The use of funds is mainly for Synex International to provide funds to its wholly-owned subsidiary, Synex Energy Resources Ltd., to advance electrical energy developments and for general corporate purposes.
Synex International Inc. is a public company listed on the TSX with businesses that cover the development, ownership and operation of electrical generation facilities and the provision of consulting engineering services in water resources, particularly hydroelectric facilities.
(Signed)
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Greg Sunell, President
/For further information: 400 - 1444, Alberni Street, Vancouver, BC, V6G 2Z4, Phone (604) 688-8271 Ext. 309, Fax (604) 688-1286, E-mail: gsunell(at)synex.com, Web Site: www.synex.com/
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