SXI:CC - News Release Early Warning Report

Vancouver, British Columbia--(Newsfile Corp. - May 26, 2022) - Daniel J. Russell announces today that on May 25, 2022 he acquired ownership of 2,000 common shares (the "Purchased Shares") in the capital of Synex Renewable Energy Corporation (formerly, Synex International Inc.) (the "Issuer"), representing approximately 0.05% of the issued and outstanding common shares (the "Common Shares") in the capital of the Issuer (the "Acquisition").

The Purchased Shares were acquired through normal course purchases through the facilities of the Toronto Stock Exchange for C$2.98 per Purchased Share in cash, for an aggregate amount equal to C$5,960.

Prior to the Acquisition, Mr. Russell owned, or had control or direction over, 2,233,379 Common Shares and 24,000 options to purchase Common Shares ("Options"), representing approximately 55.94% of issued and outstanding Common Shares on a partially diluted basis. After the Acquisition, Russell owns, or has control of direction over, 2,235,379 Common Shares and 24,000 Options, representing approximately 55.99% of the issued and outstanding Common Shares on a partially diluted basis.

Mr. Russell acquired the Shares for investment purposes. Mr. Russell may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Issuer.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under the Issuer's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters.

The Issuer's head office is located at 4248 Broughton Ave., Niagara Falls, Ontario L2E 0A4. For inquiries or a copy of the related early warning report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact:

Daniel J. Russell
524 Locust Street
Burlington, Ontario L7S 1V2
Telephone: 905-646-7545

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125344