Arthur Irving Jr. Joins Board of Directors of B.C. Hydroelectric Developer
VANCOUVER – Arthur Irving Jr. has been named to the Board of Directors of Synex International Inc., a hydroelectric developer and consultant in British Columbia.
Synex highlights Irving’s decades of experience with Irving Oil in a press release about the appointment, which was effective February 23.
“Mr. Irving has over 25 years’ experience, which includes terms as Executive Vice President and a Director of Irving Oil Ltd. and President of Cobalt Properties Ltd.,” states the release.
In connection with his appointment as a Director, the company has also granted Irving incentive stock options to purchase up to 100,000 shares. The options can be exercised at the price of $0.49 per share until February 22, 2021.
The publicly traded company, founded in 1987, owns the Mears Creek Hydro Project, Cypress Creek Hydro Project and Kyuquot Grid Connection and Utility – all located on Vancouver Island. The company has an 80 per cent stake in Barr Creek Hydro Plant and smaller ownership stakes in China Creek Hydro Plant and Ptarmigan Creek Hydro Plant.
Synex Energy Resources Ltd. is currently developing two hydroelectric plants on Vancouver Island: Newcastle Creek Hydro Project and McKelvie Creek Hydro Project. They would total 9.8 MW with completion dates for both in 2018. Cypress Creek, Mears Creek and Bar Creek generate a combined 11 MW.
In an e-mail to Huddle, company president Greg Sunell said he wouldn’t comment further on Irving’s appointment.