GreenLight Receives Approval for Oversubscribed Financing __________________________________________________________________________________
__________________________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA
(OTCBB: PRZCF) (FRANKFURT: PHO) (TSXV : GR)
VANCOUVER, British Columbia – March 29, 2012 – GREENLIGHT RESOURCES INC. (TSXV.GR), is pleased to announce that the TSX Venture Exchange has accepted for filing, documentation with respect to a non-brokered private placement of 6,000,000 units at a price of $0.10 per unit in the capital stock for total gross proceeds of $600,000. Each unit consists of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.15 per share for a period of two years from the closing date of the private placement. The shares are subject to a four month hold period expiring July 29, 2012 and cash finders' fees of $2,500 is payable to PI Financial Corp. and $39,500 is payable to First Canadian Capital Markets Ltd. A further 395,000 broker warrants are payable to First Canadian Capital Markets Ltd. and are exercisable into one common share at $0.15 for 2 years from closing.
About GreenLight Resources Inc.:
GreenLight Resources Inc. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. The Company has a diversified property portfolio and is aggressively advancing several projects including graphite, manganese, REE's, rare metals and precious metals. The Company also has created two joint venture partnerships on its Keymet gold,silver and base metal property and on its Porcupine rare earth element and base metal property. These partnerships have facilitated rapid exploration of the Company's expanding property portfolio.
On Behalf of the board of directors
“Chris Anderson”
Christopher R Anderson, CEO – President 604 488-3900
Read about GreenLight Resources Inc.: http://greenlightresources.com/corporate-overview/
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