Syntholene Energy Completes Final Tranche of $2.3 Million Offering

05:02 PM EDT, 08/27/2026 (MT Newswires) -- Syntholene Energy (ESAF.V) after trade Thursday said it closed the final tranche of its non-brokered private placement and raised about $2.3 million. The company issued nearly 5.15 million units at $0.45 per unit. Each unit includes one common share and half of a warrant. Each full warrant allows the holder to buy one additional common share at $0.63 for two years, subject to an acceleration provision, according to the statement. The company said it plans to use the proceeds for future testing and production at its demonstration facility in Husavik, Iceland, as well as for general working capital. All securities issued in the offering, including shares underlying the warrants, are subject to a hold period of four months and one day under applicable securities laws, the company added.