Synodon, Inc. (TSXV:SYD) announced a non-brokered private placement of up to 40,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 2,000,000 on November 2, 2015. Each unit consists of one class A common share and one share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at CAD 0.065 per share for a period of 36 months following the closing date.

The transaction is subject to approval from TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day from the date of closing. The company may pay finders' fees in cash and warrants.