Green Swan Provides Update and Announces Financing
GSW: TSX-V
GREEN SWAN PROVIDES UPDATE AND ANNOUNCES FINANCING
Burlington, ON. December 12, 2014. Green Swan Capital Corp. (GSW: TSX-V) (“Green Swan”) announces a non-brokered financing of up to $100,000 (one hundred thousand dollars) (the “Financing”), to fund working capital and due diligence review for it’s previously announced diversification plans.
The Financing consists of up to two million Units, each Unit consisting of one common share and one common share purchase warrant (the “Warrant”). Each Warrant is exercisable into one common share at five cents for a twelve month period following the closing of the Financing, subject to an acceleration clause.
Green Swan will pay to any participating registrant a cash commission of 8% of the gross proceeds of the Offering sourced by such registrant and broker warrants equal to 8% of the number of Units issued by Green Swan with respect to the Offering as sourced by such registrant. These broker warrants will have the same characteristics as the Warrants.
As yet, no estimate of time and cost to finalize any prospective diversification has been developed as Green Swan is at too early a stage in its due diligence process to be able to develop this information or to advise what approvals are necessary. Green Swan will provide further updates on its growth and diversification plan as material opportunities arise.
To preserve Green Swan’s cash, an arm’s length creditor of Green Swan has agreed to accept 39,270 Units in lieu of cash to settle a total of $1,963.49 (one thousand nine hundred sixty-three dollars and forty-nine cents) in outstanding liabilities. Two non-arm’s length creditors of Green Swan have each agreed to accept 67,800 common shares of Green Swan in lieu of cash to each settle $3,390 of outstanding liabilities. These are in addition to the Financing.
The Financing and the conversions are subject to TSXV approval, and if obtained Closing will take place immediately thereafter.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a diversified Canadian company. With only 25,890,973 shares outstanding, an aggressive growth strategy and a proven leadership team, Green Swan is wellpoised to deliver real value to its shareholders.
On Behalf of the Board of Directors
GREEN SWAN CAPITAL CORP.
“Peter M. Clausi”
Peter M. Clausi CEO and Director
For Further Information:
Peter M. Clausi [email protected] 1 905-681-1925
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.