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New Board of Synex Affirmed and Moving Swiftly to Create Shareholder Value

VANCOUVER, British Columbia, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Synex International Inc. (TSX:SXI) (“Synex” or the “Company”) is pleased to announce that an order of the Supreme Court of British Columbia released today has affirmed the properly constituted board of the Company (the “Board”). Effective November 2, 2018, the Board is comprised of the following six individuals: Tanya L. DeAngelis, Richard McGivern, Daniel J. Russell, Swami Sundarrajan, Cecilia Tam and Danny Sgro.

The Board met today and elected Tanya DeAngelis as Chairperson of the Company. The Board also appointed Daniel J. Russell as Chief Executive Officer of the Company, replacing Gregory J. Sunell, who has been removed by the Board from his role as President of the Company.

The Board also authorized a variety of actions with respect to transitional matters in respect of the records and assets of the Company.

“We are very pleased to announce a new chapter for Synex. Our new Board has deep industry expertise and a strong commitment to the renewal of the Company,” said Daniel J. Russell, Chief Executive Officer of the Company. “The new Board intends to work closely together to create value for all shareholders.”

The Company wishes to thank Mr. Sunell and all of the outgoing directors for their contributions to the Company.

ADDITIONAL INFORMATION

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, project development and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

For more information please contact:

Daniel J. Russell, Chief Executive Officer
400 – 1444 Alberni Street, Vancouver BC V6G 2Z4
Telephone: 905-646-7545    Web Site: www.synex.com

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