Greenbriar Capital Corp $6 million private placement
NEWPORT BEACH, CA, Dec. 12, 2013
NEWPORT BEACH, CA, Dec. 12, 2013 /PRNewswire/ - Greenbriar Capital Corp.
(TSX.V: GRB) (OTC: GEBRF) is pleased to announce that it has initiated a
non-brokered private placement of 2,500,000 units (the "Units") at a price of
$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 $3.00
per whole warrant for a period of 24 months from the date the Warrants are
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.
Use of the funds will be to complete all of the remaining development
milestones needed for financial close for both the 80 MW Blue Mountain Utah
wind energy facility and the 100 MW Puerto Rico solar facility, new accretive
power acquisitions, acquire additional land holdings and repayment to Alterra
Power Corp. of the $1,250,000 PPA acquisition facility of which $250,000 has
already been repaid.
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
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.
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.
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 filed with 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.
Jeff Ciachurski, Chief Executive Officer
Greenbriar Capital Corp.
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