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Synex Internt’l ( (TSE:SXI) ) has issued an announcement.
Sitka Power Inc. has completed the acquisition of Synex Renewable Energy Corporation in an all-cash transaction valued at C$12,017,474.40. This acquisition allows Sitka to expand its asset base in British Columbia, enhancing its growth potential in the renewable energy sector. The transaction results in the delisting of Synex’s shares from the Toronto Stock Exchange and a restructuring of its board and management, indicating a strategic shift in operations and potential implications for stakeholders.
Spark’s Take on TSE:SXI Stock
According to Spark, TipRanks’ AI Analyst, TSE:SXI is a Neutral.
The stock score is driven by financial challenges with high leverage and negative profitability, tempered by technical stability and a promising corporate event with a planned acquisition. The valuation indicates losses, but the acquisition could provide a positive shift.
To see Spark’s full report on TSE:SXI stock, click here.
More about Synex Internt’l
Synex Renewable Energy Corporation, based in Vancouver, British Columbia, is involved in the development, acquisition, ownership, and operation of renewable energy projects in Canada. The company has ownership interests in hydro projects, a grid connection utility, and numerous potential hydroelectric and wind development sites in British Columbia.
Average Trading Volume: 3,918
Technical Sentiment Signal: Hold
Current Market Cap: C$11.67M
Learn more about SXI stock on TipRanks’ Stock Analysis page.