AVAC : Synodon Announces the Settlement of Its Outstanding Obligation to AVAC

Synodon Inc. ("Synodon") (TSX VENTURE: SYD) announces that it has reached an agreement with AVAC Ltd. to exit from its investment agreement and settle its repayment obligation of a royalty on revenue for an amount that management believes approximates the estimated net present value of the outstanding commitment to AVAC. The agreement provides that the first priority security on Synodon's assets will be released.read more