I think there is an earnings potential here with SXI it is pretty simple to evaluate this company as they have sold the software division and now only do hydro and electrical power. Vancouver Island has a shortage of generating capacity so they will get good value from BC Hydro for the power.
Synex International announces credit agreement for Mears Creek Hydro Project
TSX : SXI
VANCOUVER, Sept. 22 /CNW/ - Synex International Inc announces that its
wholly owned subsidiary, Synex Energy Resources Ltd, executed a Credit
Agreement with the Canadian Western Bank and Trust on September 19, 2003. The
purpose of the loan is to provide funds for the completion of the Mears Creek
Hydro Project (the "Project"). The Project is a 4MW hydroelectric plant
located near Gold River on Vancouver Island, British Columbia. The plant is
currently under construction with a scheduled Commercial Operation Date of
January 15, 2004. Under the Credit Agreement, Canadian Western Bank and Trust
will provide construction and long term funding for 70% of the approved
construction costs with a maximum debt funding of $5.04 million.
Synex International Inc is a public company listed on the Toronto Stock
Exchange 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.
"Greg Sunell"
_______________________________
Greg Sunell, President
%SEDAR: 00002435E
-30-
For further information: Greg Sunell, President, 400 - 1444 Alberni
Street, Vancouver BC, V6G 2Z4, Phone (604) 688-8271 Ext. 372, Fax
(604) 688-1286, E-mail: gsunell@synex.com, Web Site: www.synex.com/ |
