Synodon Secures $1.2 Million in New Contracts from Three Repeat Customers
15 May 2014 - 11:00PM
Marketwired
Synodon Secures $1.2 Million in New Contracts from Three Repeat
Customers
EDMONTON, ALBERTA--(Marketwired - May 15, 2014) - Synodon Inc.
("Synodon") (TSX-VENTURE:SYD) announces that is has secured $1.2
million in new realSens™ services contracts from three pipeline
operators located in Texas, Alberta and British Columbia. These
companies have been previous realSens™ customers and all have
increased the amount of surveyed pipeline, two of the operators to
100% of their networks. The total survey length between the three
companies is more than 12,700 kilometers of natural gas and crude
oil pipelines. The contracts require the provision of a variety of
services including gas and oil leak detection, pipeline threat
assessment, vegetation encroachment analysis, pipeline zone
classification as well as a number of custom services based on
specific customer needs.
Adrian Banica, Synodon CEO said, "We are very pleased to not
only continue to service our customers but at the same time be
entrusted to survey their entire networks and provide more of our
value-added services. With these contracts, the volume of work we
have already signed for this fiscal year is more than double last
year's".
Synodon Inc. (www.synodon.com) is a technology company which has
developed an advanced airborne remote gas sensing system called
realSens™, based on technologies developed under the
Canadian Space Program and by Synodon scientists. The company
provides a full service gas emissions monitoring and quantification
service to a variety of industries, including hydrocarbon (oil and
gas), environmental and agricultural, and for a variety of gases
including methane, ethane and ammonia.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
Statements in this release that are forward-looking
statements include Syndon's expectations regarding the revenue to
be obtained from these new contracts and these statements are
subject to various risks and uncertainties concerning the specific
factors disclosed under the heading "Risk Factors" and elsewhere in
the Corporation's periodic filings with Canadian securities
regulators, which could cause actual results or events to differ
materially from these indicated by such forward-looking statements.
The Corporation believes that the expectations reflected in this
news release are reasonable including the estimate of expected
revenue, but actual results may be affected by a variety of
variables and risks such as the inability to complete the work,
change orders submitted by a customer, general economic conditions,
as well as risks and variables associated in general with the
Corporation's industry. Such information contained herein
represents management's best judgment as of the date hereof based
on information currently available. Unless otherwise required by
applicable securities laws, the Corporation does not intend nor
does it undertake any obligation to update or review any
forward-looking statements to reflect subsequent information,
events, results, circumstances or otherwise.
Synodon Inc.Adrian BanicaPresident &
CEO780.468.9568investors@synodon.comwww.synodon.com
Synodon Inc. (TSXV:SYD)
Historical Stock Chart
From May 2024 to Jun 2024
Synodon Inc. (TSXV:SYD)
Historical Stock Chart
From Jun 2023 to Jun 2024