Green Swan Capital Corp Announces Hard Dollar Equity Financing and Debt Financing, and Provides Update on Property Acquisition
(Burlington, ON. May 24, 2016) Green Swan Capital Corp. (GSW: TSX-V) (“Green Swan”) announces a non-brokered private placement from an institutional investor in the amount of $50,000, and a separate arm's length debt financing in the amount of $30,000.
The institutional investor will receive one million units (each, a “Unit”), with each Unit being priced at $0.05 and consisting of one common share and one common share purchase warrant. Each such warrant has a 12-month term and is exercisable at $0.07. A commission on the financing will be paid to a registrant, paid as $3,500 cash and 70,000 broker warrants having a 12-month term and exercisable at $0.07.
GSW also announces a $30,000 loan from an arm's length individual who is also a consultant to GSW. The funds have already been advanced to GSW's lawyers in trust pending obtaining the requisite approvals. The loan has a one year term and no interest rate. There is no finder's fee or commission payable on this debt financing.
On May 6, 2016 GSW announced it was acquiring a polymetallic mining asset comprised of 16 contiguous patented mining claims, within the Huronian Gold Belt in Falconbridge Township near Sudbury, Ontario. This area is renowned for its world-class nickel-copper-platinum-groupelement (gold-silver) sulphide ore deposits. Skilled labour and infrastructure are readily available.
The three known styles of mineralization on the asset have been described as follows:
- Massive sulphide lenses and stringers;
- Pyrrhotite disseminations; and
- Cobaltite in quartz.
GSW has completed legal and technical due diligence on this acquisition, and expects to close on it in the near future. Further details on the asset will be provided on closing.
The equity financing, loan and acquisition referred to in this press release are subject to regulatory approval. The net proceeds from the equity financing and loan will be used for working capital purposes including the funding of the acquisition.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian company with only 31,771,179 shares outstanding, an aggressive growth strategy and a proven leadership team. 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.