Greenbriar Capital Corp. and Alterra Power Corp. Announce Securities for Debt Settlement

 Greenbriar Capital Corp. and Alterra Power Corp. Announce Securities for Debt  Settlement  TSX-V symbol: GRB  VANCOUVER, Aug. 13, 2014 /CNW/ - Greenbriar Capital Corp. (TSX-V: GRB)  ("Greenbriar") and Alterra Power Corp. (TSX: AXY) ("Alterra") announced today  that they have reached an agreement respecting completion of the previously  announced acquisition by Greenbriar of Alterra's joint venture interests in AG  Solar One, LLC ("AG One").  The Parties were indirect joint venturers in AG  One which is in the process of developing a potential 100 MW solar  photovoltaic electric generating facility in Puerto Rico. The parties agreed  in July 2013 (as amended in October 2013) that Greenbriar would acquire  Alterra's interest in AG One by payment of US$1,250,000, of which US$250,000  has been paid in cash.  The securities are being issued to settle the  remaining US$1,000,000 (approximately CDN$1,094,400) owed to Alterra by  Greenbriar's wholly owned subsidiary, Greenbriar Capital Holdco Inc.  As a result of the agreement, Greenbriar will issue to Alterra 684,000 units,  each unit comprising one share and one non-transferable share purchase  warrant, at a deemed price of US$1.46 (CDN$1.60) per unit.  Each warrant will  entitle Alterra to purchase one common share of Greenbriar at a price of  CDN$2.00 per share for a period of 5 years from the date of issuance. The  securities issued in connection with the transaction will be issued pursuant  to certain prospectus and registration exemptions available under applicable  securities legislation and will be subject to a hold period of four months and  a day from the date of issuance.  Jeffrey J. Ciachurski, CEO of Greenbriar, commented that "Greenbriar is very  pleased to be able to complete the acquisition of AG One and is delighted that  Alterra has elected to assume an equity interest in Greenbriar.  The  settlement of this outstanding amount should allow us to improve our balance  sheet and to assist us moving forward with project financing for, among other  things, continuing development of the AG One assets."  The completion of the Debt Settlement is subject to the receipt of all  necessary regulatory approvals, including the approval of the TSX Venture  Exchange.  The conversion of Canadian dollars to U.S. dollars used in this press release  is based on the Bank of Canada noon rate on August 12, 2014 of  US$1.00:CDN$1.0944.  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.  About Alterra Power Corp.  Alterra Power Corp. is a leading global renewable energy company, operating  six power plants totaling 568 MW of generation capacity, including British  Columbia's largest run-of-river hydro facility and largest wind farm, two  geothermal facilities in Iceland, and a geothermal plant in Nevada.  Alterra  owns a 262 MW share of this capacity, generating approximately 1,300 GWh of  clean power annually.  Alterra has an extensive portfolio of exploration and  development projects and a skilled international team of developers,  explorers, builders and operators to support its growth plans.  The company trades on the Toronto Stock Exchange under the symbol AXY and OTC  in the United States as MGMXF.  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.  Cautionary Note Regarding Forward-Looking Information of Greenbriar  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.  Jeff Ciachurski, Chief Executive Officer, Greenbriar Capital Corp., Phone:  949.903.5906, Email: jciachurski@greenbriarcapitalcorp.com; Peter Lekich,  Corporate Communications, Alterra Power Corp., Phone: 604.235.6719, Email:  info@alterrapower.ca  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/August2014/13/c2899.html  CO: Greenbriar Capital Corp. ST: British Columbia NI: FIN VNT  
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