Welcome to our dedicated page for SYNEX RENEWABLE ENERGY news (Ticker: SYITF), a resource for investors and traders seeking the latest updates and insights on SYNEX RENEWABLE ENERGY stock.
The SYITF news page provides historical coverage of Synex Renewable Energy Corporation, a Vancouver, British Columbia based company that operated in the electric utilities industry with a focus on renewable energy projects in Canada. News releases linked to this symbol document Synex’s activities as a public company, including its hydroelectric and wind development efforts in British Columbia and key corporate events.
Readers can review announcements describing Synex’s ownership interests in operating hydro projects in British Columbia, its Vancouver Island grid connection and utility business known as Kyuquot Power Ltd., and its portfolio of construction-ready run-of-river projects and wind development sites. Several releases discuss the development of investigative wind licenses acquired through Sea Breeze Power Corp., including expenditures on third-party consultants and internal labor to advance these sites in the context of BC Hydro’s Clean Power Call for clean or renewable electricity.
A major theme in the SYITF news archive is the transaction with Sitka Power Inc. News dated March 28, 2025 outlines the arrangement agreement under which Sitka agreed to acquire 100% of the issued and outstanding common shares of Synex in an all-cash transaction implemented by statutory plan of arrangement. Subsequent releases on April 29, 2025 and May 27, 2025 cover the management information circular, interim court order, and shareholder approval of the arrangement. Later, a July 31, 2025 release reports the receipt of required regulatory approvals, and an August 1, 2025 release confirms completion of the acquisition, the planned delisting of Synex’s common shares from the Toronto Stock Exchange, and the company’s application to cease to be a reporting issuer.
By browsing this news feed, users can trace Synex’s operational updates, board changes, financial result announcements, and the full sequence of events leading to its acquisition by Sitka Power Inc. and subsequent delisting, providing context for the historical performance and corporate evolution associated with the SYITF symbol.
Sitka Power Inc. (SYITF) has successfully completed the acquisition of Synex Renewable Energy Corporation in an all-cash transaction. The deal, structured as a plan of arrangement under British Columbia law, values Synex at C$12,017,474.40, with shareholders receiving C$2.40 per common share.
Following the acquisition, Synex will be delisted from the Toronto Stock Exchange and cease to be a reporting issuer. The transaction brings Sitka an expanded operating asset base in British Columbia, along with a development project pipeline positioned to capitalize on market growth and demand. Several board and management changes have been implemented, with Sitka representatives assuming key positions.
Synex Renewable Energy Corporation (TSX: SXI) has secured all necessary regulatory approvals for its previously announced acquisition by Sitka Power Inc. The transaction, structured as a statutory plan of arrangement, will see Sitka Power acquire all outstanding common shares of Synex for C$2.40 per share in cash.
Key approvals were obtained from the British Columbia Utilities Commission, the Province of British Columbia, and the British Columbia Hydro and Power Authority. With all shareholder, court, and regulatory approvals now in place, the arrangement is expected to close on August 1, 2025, subject to customary closing conditions.
Synex Renewable Energy Corporation (TSX: SXI) shareholders have overwhelmingly approved the previously announced acquisition by Sitka Power Inc. at C$2.40 per share in cash. The arrangement received strong support with 82.74% of total votes and 82.25% of minority shareholder votes in favor.
The transaction, which requires final regulatory approvals from the British Columbia Utilities Commission and BC Hydro and Power Authority, along with Supreme Court approval, is expected to close in the second half of 2025. Upon completion, Synex will be delisted from the TSX and become a wholly-owned subsidiary of Sitka.
Synex Renewable Energy has filed its management information circular for a special shareholder meeting scheduled for May 27, 2025, in Toronto. The meeting concerns a proposed arrangement agreement with Sitka Power, where Sitka will acquire all outstanding common shares at C$2.40 per share in cash.
The arrangement requires approval from:
- Two-thirds of shareholder votes at the meeting
- Majority approval from minority shareholders
The board of directors unanimously recommends shareholders vote FOR the arrangement. Upon completion, Synex will be delisted from the Toronto Stock Exchange and become a wholly-owned subsidiary of Sitka Power. The deal is expected to close in the second half of 2025, subject to regulatory approvals from the British Columbia Utilities Commission and BC Hydro and Power Authority, along with final court approval.
Synex Renewable Energy has announced a definitive agreement to be acquired by Sitka Power Inc. for C$2.40 per share in cash, representing an enterprise value of approximately C$25.2 million. The transaction offers a 58% premium to the 20-day volume weighted average price as of March 27, 2025.
The deal, unanimously approved by Synex's Board of Directors, will be implemented through a statutory plan of arrangement. All directors and officers, holding approximately 67% of outstanding shares, have agreed to vote in favor of the transaction.
The acquisition requires approval from two-thirds of shareholders, regulatory clearances from British Columbia Hydro and Power Authority and the BC Utilities Commission. The agreement includes a C$600,000 termination fee and will result in Synex's delisting from TSX upon completion.
Synex Renewable Energy (TSX: SXI) reported financial results for Q2 2025 (ended December 31, 2024). Revenue increased to $1,222,392 from $972,718 in Q2 2024, with electricity sales rising to $1,196,925 from $958,446, driven by increased precipitation and a rate increase for Kyuquot Utility. Net profit grew to $153,867 from $83,663 year-over-year.
The company invested $767,722 in developing investigative wind licenses at Sea Breeze Power Corp. As of December 31, 2024, Synex had an unrestricted cash balance of $271,105, restricted cash of $730,770, and a term deposit of $230,000. Total loan principal outstanding was $12,957,878.
The company also announced the appointment of Majed Masad, co-founder of Mejuri, to its Board of Directors.
Synex Renewable Energy (TSX: SXI) announced the resignation of director Murray Margolis, effective January 29, 2025. Margolis, who joined the company's board in 2023, is stepping down to focus on other commitments. CEO Daniel J. Russell expressed appreciation for Margolis's contributions during his tenure as a board member.
Synex Renewable Energy (TSX: SXI) announced the resignation of director Adarsh Mehta effective January 20, 2025. Mehta, who joined the company's board in 2020 and served on the audit committee, leaves after approximately five years of service. The board expressed gratitude for Mehta's contributions during her tenure.
Synex Renewable Energy held its annual general meeting on December 6, 2024, with shareholders approving all proposed resolutions. The meeting resulted in the election of six directors, with all management nominees receiving strong support ranging from 93.33% to 99.80% of votes. Dale Matheson Carr-Hilton Labonte LLP was appointed as auditors with 99.80% approval.
The company operates in renewable energy development in Canada, owning 12 MW of hydro projects in British Columbia and Kyuquot Power Additionally, Synex has 9.4 MW of construction-ready run-of-river projects, applications for 150 MW capacity across 24 potential hydroelectric sites, and 16 wind development sites with potential for 4,700 MW of clean power.