Green Swan Acquires Ontario Mining Claims
BURLINGTON, ONTARIO -- (Marketwire) -- 11/05/12 -- Green Swan Capital
Corp. ("Green Swan") (TSX VENTURE:GSW) today announced it has
purchased, subject to regulatory approval, four mineral claims (the
"Claims") in Hess Township in northern Ontario, known as the Geneva
Lake Mining Property.
The Claims form part of the former Geneva Lake Mine.
Green Swan has purchased a 100% interest in the Claims in
consideration of the issuance of 200,000 shares (at an agreed price
of $0.10 per share), and 200,000 share purchase warrants with each
share purchase warrant exercisable for one common share at an
exercise price of $0.20 per common shares for a period of twenty-four
months from the date of issue. The Claims are subject to a 2% NSR of
which GSW can purchase one-half of the NSR for an amount of
$1,000,000 at any time. GSW must incur a minimum of $150,000 of
exploration expenditures within the first twelve months of the
closing of the transaction.
Green Swan intends to, immediately upon closing, begin exploration on
About Green Swan Capital Corp.
Green Swan is engaged in the exploration and, if warranted,
development and mining of its properties as well as the acquisition,
exploration and potential development of other mineral resource
properties. The common shares of Green Swan are listed on the TSX
Venture Exchange under the trading symbol "GSW". Upon closing of the
transactions contemplated above, GSW will have 19,697,417 shares
This news release may include statements about expected future events
and/or financial results that are forward-looking in nature and
subject to risks and uncertainties. Green Swan cautions that actual
performance will be affected by a number of factors, many of which
are beyond its control. Future events and results may vary
substantially from what Green Swan currently foresees. Discussion of
the various factors that may affect future results is contained in
Green Swan's recent filings, available on SEDAR. Green Swan assumes
no liability for repeating or referring to any facts, statements,
releases, data or reports disseminated by any other issuer. Any
reference to any other issuer should be cross-checked for accuracy
and context by the reader.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Green Swan Capital Corp.
Peter M. Clausi
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