Syntholene Energy upsizes private placement offering to $2.3M

Syntholene Energy Corp. (TSXV: ESAF) (FSE: 3DD0) (OTCQB: SYNTF) has increased the size of its non-brokered private placement offering to $2.3 million, citing increased investor demand, according to a press release.

The offering now consists of up to 5,111,111 units priced at $0.45 per unit. Each unit includes one common share and one-half of one common share purchase warrant. Each full warrant entitles the holder to acquire one common share at an exercise price of $0.63 for two years from the date of issuance, subject to an acceleration provision.

The offering is expected to close on or about August 14, 2026. The company said it intends to use the proceeds for testing and production at its demonstration facility in Húsavík, Iceland, and for general working capital.

Securities issued under the offering will be subject to a statutory hold period of four months and one day from the date of issuance. Completion remains subject to regulatory approvals, including approval from the TSX Venture Exchange.

The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

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