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
"SIGNED"
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.