Greenbriar Capital Corp. Closes Non-Brokered Private Placement and Qualifying Transaction

TSX-V symbol: GRB.P

VANCOUVER, Sept. 27, 2011 /CNW/ - Greenbriar Capital Corp. (the "Company"), a capital pool company, is pleased to announce that, further to its news releases dated June 7, 2011 and September 16, 2011, it has closed the non-brokered private placement offering (the "Offering") of 4,100,000 common shares (the "Shares") at a price of $0.50 per Share and also closed the arm's length acquisition (the "Acquisition") of approximately 160 acres of vacant land (the "Property") located in the City of Tehachapi, California. The Acquisition of the Property served as the Company's Qualifying Transaction for the purposes of the policies of the TSX Venture Exchange (the "Exchange").

Pursuant to the Offering, the Company raised gross proceeds of $2,050,000. The Shares are subject to a hold period expiring at midnight on January 23, 2012.

PI Financial Corp. ("PI") acted as the Company's sponsor for the Qualifying Transaction. Pursuant to its engagement, the Company paid PI a sponsorship fee of $40,000 (plus HST). In addition, and as compensation for advisory services provided by PI in connection with the Offering, the Company paid PI a cash commission of 7% of the gross proceeds raised by PI and further granted PI an option (the "Finder's Option") to acquire such number of common shares of the Company equal to 7% of the number of Shares sold by PI pursuant to the Offering at a price of $0.50 per Share for a period of two years from September 22, 2011. The hold period for the securities issued pursuant to the Finder's Options is the same as that of the Shares. In addition, the Company paid PI the customary costs and expenses associated with sponsorship transactions. Also in connection with the Offering, the Company paid finder's fees totaling $12,675 to certain other finders.

Approximately US$990,000 of the net proceeds of the Offering was used to pay the balance of the purchase price for the Property. The balance of the net proceeds will be used to fund the Company's business plan, to pay for the costs of the Qualifying Transaction and for general working capital.

The Company has received conditional acceptance to list as a Tier 2 issuer on the Exchange, subject to confirmation that the Company meets the initial listing requirements of a real estate issuer. The Company is a "land development" company, whose business is to acquire raw parcels of land, conduct all necessary improvements and development activities to re-zone the land for commercial or residential development, then re-sell the land to real estate home builders as re-zoned developable parcels. The Company completed the acquisition and will conduct its operations in the United States through its wholly-owned subsidiary, Greenbriar Capital (U.S.) LLC.

As was previously disclosed, the Property is comprised of an aggregate of 160 acres divided into approximately 689 total lots. The Property's existing use is as vacant land, which land has been rezoned to permit the construction and development of multi-family apartments and / or single family residential homes. The City of Tehachapi is located in the Tehachapi Pass, a mountain pass located in southern California. The pass connects San Joaquin Valley to the Mojave Desert. It is located approximately 56 kilometres southeast of Bakersfield, California. With over 5,000 wind turbines, the Tehachapi Pass area possesses the second largest collection of wind turbines in the world producing over 1,400 megawatts of electrical power.

Completion of the Qualifying Transaction remains subject to final Exchange acceptance.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

ON BEHALF OF THE BOARD OF DIRECTORS

"SIGNED"

Jeffrey J. Ciachurski
President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE Greenbriar Capital Corp.

For further information:

GREENBRIAR CAPITAL CORP.
Suite 1326 - 885 West Georgia Street

Vancouver, B.C. V6C 3E8


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.