Syd Agreement with Santa Marta is Terminated
51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
SYD Financial Inc. (the “Company”)
Suite 303, 570 Granville Street
Vancouver, BC V6C 3P1
Item 2 Date of Material Change
January 30, 2020
Item 3 News Release
The news release was disseminated through Market News and Stockwatch.
Item 4 Summary of Material Change
On January 30th, 2020, the Company announced that further to its press releases dated June 25,
September 10 and October 25, 2019, the definitive business combination agreement with Santa
Marta Life Sciences Corp. and a wholly-owned subsidiary of the Company, 1221439 B.C. Ltd. has
terminated and will not be extended.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
See attached News Release.
5.2 Disclosure for Restructuring Transactions
N/A
Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
N/A
Item 7 Omitted Information
None
Item 8 Executive Officer
Keith Anderson, CEO and Director, (604) 786-7774
Item 9 Date of Report
January 31, 2020
SYD FINANCIAL INC.
303 - 570 Granville Street
Vancouver, BC, V6C 3P1
FOR IMMEDIATE RELEASE January 30, 2020
SYD FINANCIAL INC.
Vancouver, B.C. – Syd Financial Inc. (the ``Company``) (CSE : SYDF) announces that further to its press
releases dated June 25, September 10 and October 25, 2019, the definitive business combination
agreement with Santa Marta Life Sciences Corp. (“ Santa Marta”) and a wholly -owned subsidiary of the
Company, 1221439 B.C. Ltd. (“Newco”) has terminated and will not be extended.
The Company will remain a mineral exploration company and will focus on its Pluto Property (the
"Property").
The Property is located 18km west of the town of Chapais in Nord-du-Québec area of the Quebec
Province. The Pluto property consists in two claim blocks for a total of 58 active claims that have a total
area of 3,223.43 ha (or 32.2 km 2). The claims are 100% owned by the Company. Four claims are under
renewal at this moment and should expire on January 8th 2022 following their renewal. Two more claims
are currently under renewal and should expire January 22nd, 2022 following renewal. The Property is
easily accessible via main road 113 and multiple logging roads.
Three soil surveys were conducted on the Property in 2016, 2017 and 2019 with the objective of finding
any associated gold or base metal anomalies down ice and in the direct area of the Kapunapotagen
shear zone, which is located at the contact between the Allard and Scott Members of the Waconichi
Formation. This contact is considered to be favorable to VMS mineralization (Dion, 2009). The surveys
allowed the sampling of 83 stations in total and have allowed the interpretation of three possible targets
of greater interest on the property that could explain the source of soil anomalies found with the
surveys performed.
A heliborne magnetic survey was conducted on the two blocks. E-W magnetic lineaments were defined
on the East block and could be associated with mafic volcanic or intrusive rocks. Other areas that are
magnetically quieter are rather characteristic of sedimentary and of intermediate to felsic volcanic
rocks. The strongest magnetic anomalies and variation are concentrated in the southwestern part of the
West block and are likely caused by variable concentrations of magnetite associated to intrusive rocks
mapped as granodiorite/syenite by the Ministry of Energy and Natural Resources ("MERN"). Figure 1
shows the different features on the Property.
The scientific and technical data contained in this news release was prepared and reviewed by Steven
Lauzier, P.Geo.OGQ 1430, a qualified person pursuant to National Instrument 43 -101 – Standards of
Disclosure for Mineral Projects.
SYD Financial Inc.
On behalf of the Board of Directors,
"Keith Anderson"
Keith Anderson, CEO, Secretary and Director, Syd Financial Inc.
For further information on the Company, please email [email protected]
Keith Anderson
Syd Financial Inc.
(604) 786-7774
Bibliography:
Dion, C., 2009: Nouvelles Cibles Pour L'Exploration Minérale, Travaux Géoscientifiques 2009. Ministère
des Ressources Naturelles et de la Faune, [PRO-2009-07].
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has in no way passed upon the merits
of the proposed Transaction and has neither approved nor disapproved of the contents of this press
release.
Disclaimer for Forward-Looking Information
This news release contains forward -looking statements that involve various risks and uncertainties
regarding future events. Such forward -looking statements are based on current expectations of
management, involve a number of risks and uncertainties, and are not guarantees of future performance
of the Company. These statements generally can be identified by the use of forward -looking words such
as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or
“continue”, or the negative thereof or similar variations. Forward-looking statements in this news release
include statements regarding the proposed allocation of the net proceeds of the Financing. Forward-
looking statements are necessarily based on a number of estim ates and assumptions that, while
considered reasonable, are subject to known and unknown risks, uncertainties and other factors that
may cause actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results or events to differ materially from
current expectations include general market conditions and other factors beyond the control of the
Company. The Company expressly disclaims any intention or obligation to update or revise any forward -
looking statements whether as a result of new information, future events or otherwise, except as
required by applicable law.