Green Swan Hard Dollar and Flowthrough Financing
Burlington, ON. November 2, 2016. Green Swan Capital Corp. (GSW: TSX-V) (“Green Swan”) announces that it intends to complete a non-brokered private placement of up to 3,333,333 Common Units and up to 416,667 Flow-through Units, at $.09 per Common Unit and $0.12 per Flow-through Unit, for gross proceeds of $350,000. Where applicable, a fee may be paid to registrants of 8% cash and 8% in broker warrants.
Each Common Unit consists of one common share and one common share purchase warrant (a “Warrant”), with each Warrant having a 12-month term and being exercisable at $0.13. Each Flow-through Unit consists of one common share and one Warrant.
Green Swan also announces that two arm’s length creditors have agreed to convert $30,473.25 of debt into Common Units, resulting in the issuance of 338,592 Common Units.
The above transactions are subject to regulatory approval.
The debenture announced June 22, 2016 has been converted by its arm’s length holder in accordance with its terms. Prior regulatory approval was obtained for this conversion.
The net proceeds from the equity financing will be used for working capital purposes and exploration activities primarily on Green Swan’s cobalt / gold property in Sudbury, Ontario. Green Swan is on schedule to carry out a short diamond drill program on that property in mid- November, 2016. Green Swan expects to imminently be provided with the assay results from its latest round of surface and chip samples, and will release them as soon as possible.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian mining company with a proven leadership team, targeting cobalt in Ontario. Green Swan is well-poised to deliver real value to its shareholders.
Forward Looking Statements
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader. 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.
On Behalf of the Board of Directors
Green Swan Capital Corp.
“Peter M. Clausi”
Peter M. Clausi President, CEO and Director
For Further Information:
Peter M. Clausi [email protected] 1-905-681-1925 x2
Neither 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.