Proceeds earmarked to help company complete its qualifying transaction
By Devika Patel
Knoxville, Tenn., Sept. 13 - Greenbriar Capital Corp. said it has negotiated a C$2.05 million non-brokered private placement of stock.
The company will sell 4.1 million common shares at C$0.50 each, which is a 16.67% discount to the Sept. 12 closing share price of C$0.60.
Settlement is expected Sept. 27.
Proceeds will be used to complete the company's a qualifying transaction and for general working capital.
The company said Tuesday that its shareholders have approved a qualifying transaction, which consists of acquiring about 160 acres of vacant land in Tehachapi, Calif. The Company has paid a non-refundable C$25,000 deposit to Marks & Kilkenney, LLC and expects to close the acquisition on Sept. 27 by paying the balance of about $990,000. After completing the acquisition, the company will conduct its operations in the United States through its subsidiary, Greenbriar Capital (U.S.) LLC.
Greenbriar is a Vancouver, B.C.-based capital pool company.
| Issuer: | Greenbriar Capital Corp.
|
| Issue: | Common shares
|
| Amount: | C$2.05 million
|
| Shares: | 4.1 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 27
|
| Stock symbol: | TSX Venture: GRB.P
|
| Stock price: | C$0.60 at close Sept. 12
|
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