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Synodon Inc. (Synodon) is a Canada-based company focused on providing aerial integrity management solutions for oil and gas pipeline operators. The Company has developed a remote gas sensing instrument called realSens that is capable of detecting ground-level hydrocarbon gas occurrences from an aircraft flying at an altitude of approximately 300 meters (approximately 1,000 feet). The instrument... see more

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Synodon Inc > So who bought the 55Million Shares for $2?

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Post by AB1Canada on Oct 26, 2016 5:40pm

So who bought the 55Million Shares for $2?

2016-10-26 15:22 ET - News Release

Mr. Paul van Eeden of Cranberry Capital reports

CRANBERRY CAPITAL DISPOSES OF EQUITY STAKE IN SYNODON INC.

Cranberry Capital Inc. has disposed of 55,398,786 common shares of Synodon Inc.

As a result of the transaction, Cranberry does not own any common shares of Synodon.

The securities were sold on Oct. 25, 2016, through two private agreements of purchase and sale for total aggregate consideration of $2.00.

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Comment by Butsko1 on Oct 26, 2016 10:20pm

So , what does that mean. Is this a joke or what

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Comment by FIRSTGMAN on Oct 27, 2016 11:18am

Van Eden, slipping out the back door. Good of him to advise shareholders.

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Comment by pennylane101 on Oct 27, 2016 12:30pm

He may have slipped out the back door but the $3 million dollar demand loan (@12% ) which was issued to Synodon less than a year ago (how convenient!!!!) is in default and secured by a first security interest and lien over all the assets and personal property of the company. He'll get control of the company one way or another.

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Comment by mineralguy on Nov 12, 2016 11:41am

You are correct. The termination clauses in the loan allow for Cranberry Capital (van Eeden) to pull the pin if there are certain breaches. According to last years financials, there are 3 breaches. If Cranberry Capital exercises his rights as a secured creditor and terminated the contact, Cranberry Capital will own the intellectual property (7+ patents), all design documentation, ...more

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Comment by zelyster on Oct 27, 2016 1:14pm

Mahesh Liyanage - 27,699,393 shares. Melvin Mak - 27,699,393 shares. https://finance.yahoo.com/news/mahesh-liyanage-early-warning-news-005000649.htmlhttps://finance.yahoo.com/news/melvin-mak-early-warning-news-010600546.html

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Comment by zelyster on Oct 27, 2016 1:22pm

Mahesh Liyanage is CFO at Evrim Resources and Mirasol Resources.

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Comment by mineralguy on Oct 27, 2016 5:23pm

Liyanage is the current CFO at Synodon (according to Synodon WEB site), as of March 2016 (press release). As you said, Liyanage is also the CFO at Evrim Resources, where van Eeden is the Chairman of the Board. Mak is the current controller at Synodon. He joined Synodon earlier this year and is one of the remaining three employees in Edmonton.

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