Greenbriar Closes Non-Brokered Private Placement
June 2, 2016
June 2, 2016 ‑ Vancouver, British Columbia. Greenbriar Capital Corp. (the "Company") is pleased to announce that it has closed the second and final tranche of the non‑brokered private placement that was announced on February 22, 2016 and April 15, 2016. The Company has issued 400,000 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $200,000. Each Unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional share in the capital of the Company at a price of $0.60 until February 21, 2021.
The common shares comprising the Units and any shares issued upon the exercise of any Warrants are subject to a hold period expiring at midnight on September 30, 2016.
250,000 Units were issued to Heidi Ciachurski, an insider of the Company (the "Related Party"), which transaction constitutes a "related party transaction" under Multilateral Instrument 61‑101 Protection of Minority Security Holders in Special Transactions ("MI 61‑101"). Because the Company's shares trade only on the TSX Venture Exchange, the related party transaction is exempt from the formal valuation requirements of Section 5.4 of MI 61‑101 pursuant to subsection 5.5(b) of MI 61‑101, and exempt from the minority approval requirements of Section 5.6 of MI 61‑101 pursuant to subsection 5.7(1)(b) of MI 61‑101.
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 valued assets directed at accretive shareholder value.
For further information please contact:
Jeff Ciachurski, CEO
Greenbriar Capital Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
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.
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