Lurk & Lurns:
OOPS....with apologies to smoking81 for info before going to the website; as by reading the recent update provided some insight to some of my questions.
Case in point is as in my own "line of credit", the monthly borrowing cost (aka intererst) has shown some "improvement" (aka ~ 25% reduction based on my outstanding balance) argeuably/possible due to Covid 19 related credit offerings.
Looking foward to see what the SXI report promised in April c\would show. While my own situation does may\not be relevant in this case, the message in the press release might give some suggestion of what a combined...."comprehensive review" and a "financing review" could contain:
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Synex Int'l Keen to Tell Investors about its Projects
2021-03-04 18:53 AT - News Release
Mr. Daniel Russell reports
SYNEX PROVIDES CORPORATE UPDATE
Synex International Inc. is providing a corporate update on key developments made by the company since its annual general meeting.
Key corporate developments -- milestones
Some of the company's recent highlights include the following:
- Completed a comprehensive review of the company's power plants and implemented progressive maintenance plans and schedules, which the company expects to lead to future operational strengths;
- Completed the acquisition of the issued and outstanding shares of Sea Breeze Power Corp., the holder of approximately 18 investigative licences suitable for wind, solar and storage sites in British Columbia;
- Strengthened the company's investor relations activities, with a focus on more comprehensive disclosure and an enhanced investor relations page on the company's website;
- Completed a comprehensive review of the company's operating units to identify opportunities to eliminate unnecessary costs and to streamline corporate structure and operations;
- Refocused the company's acquisition strategy on mid-sized renewable energy projects and entered into non-binding non-disclosure agreements in connection with possible acquisition targets in this category.
Continuing developments
The company continues to work toward the refinancing of its power plant assets which, once completed, is expected to provide stronger cash flow as a result of reduced interest expenses and longer amortization periods. The company expects to complete the refinancing in April, 2021.
Daniel J. Russell, president of the company, stated: "In the last six months we have completed a comprehensive review of our operations and refocused the company's acquisition strategy on mid-size ($5-million to $20-million) renewable energy projects, a strategy that will allow operators of such projects to obtain sought after liquidity for operations traditionally considered too small for the larger institutions in the industry.
The company is focused on adding valuable projects to the company's portfolio in a sector central to the company's long-term corporate strategy.
In connection with this refocused acquisition strategy, the company has also entered into several non-disclosure agreements to evaluate potential targets, which will be disclosed in greater detail in the event that the company elects to proceed with any of such acquisitions."
About Synex International Inc.
The company is a Vancouver-based company engaged in the operation, acquisition and development of renewable energy projects in British Columbia.
It is a run-of-river hydro, wind power developer, operator and engineering firm.
- The company also has 9.4 MW of construction ready run-of-river projects, applications and land tenures on another 24 potential hydroelectric sites totaling over 150 MW of installed capacity, and
- approximately 18 wind development sites that could have the ability to provide up to 4,850 MW of green power in British Columbia.
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We seek Safe Harbor.
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