Syntholene Energy Corp. Announces $1.5 Million Non-Brokered Private Placement

Syntholene Energy Corp. (TSXV: ESAF) (FSE: 3DD0) (OTCQB: SYNTF) ("Syntholene" or the "Company") announced today that it intends to conduct a non-brokered private placement of units of the Company ("Units") at a price of $0.45 per Unit for gross proceeds of up to $1.5 million (the "Financing"). Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each full warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.63 for a period of two years from the date of issuance of the Warrant, subject to an acceleration provision in accordance with the terms of the Warrant. The Company intends to use the proceeds of the Financing for future testing and production at the Company's demonstration facility in Húsavík, Iceland (the "Demonstration Facility") and for general working capital. Dan Sutton, Syntholene's Chief Executive Officer, said, "We are pleased with the preliminary results we are seeing at our Demonstration Facility. The Company has been producing low-cost clean hydrogen as the key first step towards a larger commercial project that could become a significant supplier of clean synthetic fuel. Financings of this nature strengthen our balance sheet as the Company continues testing and production at the Demonstration Facility, while advancing work on offtakes, project financing and other strategic matters." The Offering is expected to close on or about July 21, 2026, or such other date or dates as the Company may determine. The Company may pay certain commissions in connection with the Financing, as permitted by applicable securities laws and the policies of the TSX Venture Exchange. The Company expects that insiders of the Company may participate in the Financing. The extent of insider participation, if any, has not been determined at this time. Any insider participati...