Synergex Completes Private Equity Placement With Insiders

Synergex Corporation ("Synergex" or the "Company") (TSX: SYX), a premier international sales, marketing, and distribution company, today announced it has closed private equity placements with several of its insiders, resulting in proceeds of approximately $85,000 to be added to the Company's working capital in exchange for common shares issued from treasury.

The Company received full consideration for the issuance of an aggregate of 242,859 common shares of Synergex from treasury. The Company received consideration at a fixed price of $0.35 per share, representing a premium to the market price of the common shares. The following table identifies the insiders who have directly and/or indirectly participated in the private equity placement:

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Insider Name                         Ownership             Shares Purchased
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Peter Chung                        100% Direct                       71,429
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Tom Davidson Jr.      50% Direct; 50% Indirect                       71,429
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Dr. Neil Fleshner                100% Indirect                       71,429
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Philip Walton                      100% Direct                       28,572
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"We are making progress in our objective of supporting the Company's bottom line growth. The investments made by Synergex' insiders through the private equity placement demonstrates the confidence of our directors and officers in Synergex' accomplishments, strategy, and direction." said David Aiello, President and Chief Executive Officer.

About Synergex Corporation

Synergex is a premier international service provider of comprehensive supply chain management services in 6 countries across the Americas, specializing in distribution, licensing, sales, localization, packaging and marketing of digital entertainment products. Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit www.syx.ca.

Forward-Looking Statements

Some of the statements contained in this news release may be forward-looking statements such as the Company's future plans, objectives and goals. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties, which could cause actual results to vary considerably from these statements.

Contacts:
Synergex Corporation
Kevin Daniels
Chief Communications Officer
905-740-3128
kevin.daniels@syx.ca

Synergex Corporation
David Aiello
President and Chief Executive Officer
905-565-1212
david.aiello@syx.ca
www.syx.ca

SOURCE: Synergex Corporation

mailto:kevin.daniels@syx.ca
mailto:david.aiello@syx.ca
http://www.syx.ca

Related terms: ceo, equity, marketing, ontario, packaging, president, Private Equity, products, sales, south america, treasury