Greenbriar negotiates 100 MW solar PPA in Puerto Rico and enters into escrow to sell its 650-lot subdivision in California
Toronto Venture Exchange: Symbol: GRB
Issued and Outstanding: 10,943,500
VANCOUVER, March 4, 2013 /CNW/ - (Toronto Venture Exchange symbol "GRB") Greenbriar Capital Corp. (the "Company" or "Greenbriar") is pleased to announce that it has entered into negotiations for a 100-MW solar power purchase agreement in the Commonwealth of Puerto Rico.
Greenbriar also wishes to announce that it has entered into escrow to sell its 650-lot subdivision in the State of California. Upon close of the transaction and receipt of proceeds, scheduled for 90 days, Greenbriar will have enough funds to finance its ongoing initiatives to acquire solar properties in Puerto Rico, without having to issue shares.
Jeff Ciachurski, CEO of Greenbriar states "we are very pleased to be acquiring projects in Puerto Rico where the production of renewable energy greatly reduces the island's dependency on foreign oil. Currently, 74% of the electricity generated in Puerto Rico comes from the use of crude oil. This is a win-win situation for both Greenbriar and the citizens of Puerto Rico."
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President, Chief Executive Officer and Director
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Certain statements in this press release constitute "forward-looking statements" under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "projects", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements in this news release include, but are not limited to, the Company's discussion concerning the Offer. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to, the state of the Company's business activities and various factors discussed in the Company's annual report and annual information contained in the Company's 20F Annual Report filed with the United States Securities and Exchange Commission and securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
SOURCE: Greenbriar Capital Corp.For further information:
GREENBRIAR CAPITAL CORP.
632 Foster Avenue
Coquitlam, BC V3J 2L7