Attached files
EXHIBIT 5
HART & TRINEN, LLP
ATTORNEYS AT LAW
1624 Washington Street
Denver, CO 80203
William T. Hart, P.C. ________ Email: harttrinen@aol.com
Donald T. Trinen Facsimile: (303) 839-5414
(303) 839-0061
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Will Hart
December 10, 2009
Synergy Resources Corporation
20203 Highway 60
Platteville, CO 80651
This letter will constitute an opinion upon the legality of the issuance
by Synergy Resources Corporation, a Colorado corporation (the "Company"), of:
o 1,038,000 Series A warrants to those shareholders who were owners of
the Company's common stock on September 9, 2008;
o up to 1,038,000 shares of common stock to the holders of the 1,038,000
Series A warrants if and when the warrants are exercised; and
o Up to 3,091,733 shares of common stock to the holders of the Series A
warrants described below if and when the warrants are exercised.
the sale by certain shareholders of the Company of:
o up to 8,060,000 shares of the Company's common stock which certain
shareholders acquired in connection with our acquisition of Synergy
Resources Corporation;
o up to 2,060,000 Series A warrants acquired by the shareholders in the
acquisition;
o up to 4,000,000 shares of common stock issuable upon the exercise of
outstanding options;
o up to 2,000,000 shares of our common stock which were acquired in a
private offering;
o up to 1,000,000 Series A warrants which were acquired in the private
offering;
o up to 1,000,000 shares of common stock which are issuable upon the
exercise of Series B Warrants which warrants were sold in the private
offering;
o up to 63,466 shares of common stock which are issuable upon the
exercise of sales agent warrants;
o up to 31,733 shares of common stock which are issuable upon the
exercise of the Series B warrants included as part of the sales
agent's warrants; and
o up to 31,733 Series A warrants issuable upon the exercise of the sales
agent's warrants.
all as referred to in the Registration Statement on Form S-1 filed by the
Company with the Securities and Exchange Commission.
We have examined the Articles of Incorporation, the Bylaws, and the
minutes of the Board of Directors of the Company, and the applicable laws of the
State of Colorado applicable provisions of the Colorado Revised Statutes and the
Colorado Constitution, all reported judicial decisions interpreting the same,
and a copy of the Registration Statement. In our opinion:
(i) for those shares which are presently outstanding, the Company was
authorized to issue such shares and such shares are legally issued, fully paid
and non-assessable shares of the Company's common stock;
(ii) the Company is authorized to issue the 1,038,000 Series A warrants
mentioned above and such warrants when issued, will be legal and binding
obligations of the Company;
(iii)the Company was authorized to issue the 3,091,737 Series A warrants
mentioned above, and such warrants are legal and binding obligations of the
Company; and
(iv) any shares issued upon the exercise of the options or warrants
listed above if exercised in accordance with their terms, will be legally issued
and will represent fully paid and non-assessable shares of the Company's common
stock.
Very truly yours,
HART & TRINEN
/s/ William T. Hart
William T. Hart