VANCOUVER, April 12, 2002 — Synex International Inc. said that a company in which it has a significant holding, Coast Mountain Power Corp., has received and accepted the Feasibility Study for the Forrest Kerr Hydroelectric Project.
The proposed Forrest Kerr Hydroelectric Project, to be located in northern British Columbia, is expected to have a capacity of 100 MW and an estimated total project cost of $195 million.
The acceptance of the Feasibility Study triggers the release of 482,949 shares of Coast Mountain Power Corp. to Synex Energy Resources Ltd., a wholly owned subsidiary of Synex International Inc. Synex Energy will then hold about 10% of the approximately 9 million issued and outstanding shares of Coast Mountain Power Corp.
Synex International Inc. is a public company, trading on the Toronto Stock Exchange with three operating divisions covering: the development and operation of electrical generation facilities; the development and marketing of business intelligence and accounting related software products; and an engineering group providing services for the control and use of water, particularly hydro power.
For more information about the companies or the project, visit www.synex.com.