Australia's Synertec Corporation gains on strategic partnership with PHNXX

Synertec

04/03/2025 04:11

** Shares of Synertec Corporation SOP.AX rise 6.5% to A$0.049, their highest level since January 29

** Diversified tech and engineering co announces strategic partnership and investment in renewable energy company PHNXX

** Investment valued at A$1 million ($619,400.00)

** Co to receive 50% of gross profit from the sale or lease of licensed PHYNXX products

** Co to also co-invest and subscribe for convertible notes in PHNXX and will own about 9% of the company

** 184,355 shares change hands, 2.6x the 30-day average

** Stock down 10.9% YTD, including current session's moves

($1 = 1.6145 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))