NEWPORT BEACH, CA, Dec. 12, 2013 /CNW/ - 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 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.
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
"SIGNED"
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.