Synex Renewable Energy Corporation announced a non-brokered private placement of up to 357,142 common shares at an issue price of CAD 2.80 per share for gross proceeds of up to approximately CAD 999,998 on December 21, 2022. No commissions or fees are payable in connection with the offering. The closing of the offering is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange.

All securities issued under the offering will be subject to statutory hold periods expiring four months and one day from the date of closing of the offering.