Synodon exits investment agreement with AVAC
Synodon Inc (TSX-V: SYD) has agreed to exit its investment agreement with Canadian venture capital firm AVAC. The agreement will also settle the company's repayment obligation of a royalty on revenue "for an amount that management believes approximates the estimated net present value of the outstanding commitment to AVAC." The Edmonton-based Synodon, a remote sensing platform that provides datasets to energy businesses, received an investment from AVAC in 2008. The company is also backed by China Select Capital Partners.
16 April 2015•3 mins read
