Greenbriar Capital Corp closes non-brokered private placement
TSX.V Symbol: "GRB"
Issued and Outstanding: 11,733,000
VANCOUVER, March 10, 2014 /CNW/ - Greenbriar Capital Corp. (the "Company") is pleased to announce that it has closed another portion of the non-brokered private placement that was announced on December 12, 2013. The Company has issued 100,000 units (the "Units") at price of CDN$2.50 per Unit for gross proceeds of CDN$250,000. Each Unit is comprised of one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional share in the capital of the Company at a price of $3.00 for a period of 24 months from the date the Warrants are issued.
The common shares comprising the Units and any shares issued upon the exercise of any Warrants will be subject to a hold period expiring at midnight on June 4, 2014.
This now totals 310,000 units for a preliminary $775,000 raised.
In support of the previously announced increase to the offering, the non-brokered private placement is 2,800,000 units (the "Units") at a price of CDN$2.50 per Unit. Each Unit is comprised of one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share in the capital of the Company at a price of CDN$3.00 per whole warrant for a period of 24 months from the date the Warrants are issued.
In addition, the Company may pay a finder's fee comprised of a cash commission equal to 6% of the proceeds invested by certain investors and 6% finder's warrants (the "Finder's Warrants") entitling the finder to acquire common shares in the capital of the Company at a price of $3.00 per share for a period of 24 months from the date that the Finder's Warrants are issued. The Warrants and Finder's Warrants will not be listed for trading. The placement will occur in tranches of between $250,000 to $2,000,000.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Greenbriar Capital Corp.
Greenbriar Capital Corp. is a leading developer of renewable energy and sustainable real estate projects. With long-term, high impact, contracted sales agreements in key project locations and led by a successful industry recognized operating and development team, Greenbriar targets deep value assets directed at adding significant accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President, Chief Executive Officer and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward‑looking statements. All statements, other than statements of historical fact, constitute "forward‑looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
Forward‑looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward‑looking information or statements. Important factors that could cause actual results to differ from these forward‑looking statements include but are not limited to: risks related to the development and potential development of the Company's projects, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy, as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR.
There can be no assurance that any forward‑looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward‑looking information or statements. Except as required by law, the Company does not intend to revise or update these forward‑looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE Greenbriar Capital Corp.For further information: Jeff Ciachurski, Chief Executive Officer, Greenbriar Capital Corp., Phone: 949.903.5906, Email:firstname.lastname@example.org