Green Swan Provides Update and Announces Financing
GSW: TSX-V
GREEN SWAN PROVIDES UPDATE AND ANNOUNCES FINANCING
Burlington, ON. February 6, 2015. Green Swan Capital Corp. (GSW: TSX-V) (“Green Swan”) announces a proposed non-brokered financing of $15,000 (fifteen thousand dollars) (the “Financing”), and an update to the press release of January 5, 2015.
The Financing, previously announced on December 12, 2014, consists of three hundred thousand Units at $0.05 per Unit, 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. Proceeds of the Financing will be used for working capital purposes. The Financing is subject to approval by the TSX Venture Exchange (“Exchange”).
Green Swan will pay to a participating registrant cash commission of $1,200 being 8% of the gross proceeds of the Offering and 24,000 broker warrants equal to 8% of the number of Units issued by Green Swan with respect to the Financing. These broker warrants will have the same characteristics as the Warrants.
In the press release of January 5, 2015, Green Swan announced an acquisition of common shares of “Holdco” and the issuance of Green Swan common shares as consideration for the acquisition. As clarification of the January 5, 2015 press release, Green Swan announces that the proposed acquisition is not complete and remains subject to Exchange approval. The common shares being acquired under the proposed transaction are the common shares of Tempus Capital Inc. (“Tempus”) a non-listed Reporting Issuer and upon completion of the transaction, Green Swan will become an insider of Tempus as that term is defined by the policies of the Exchange.
The eleven shareholders of Tempus who are selling their shares to Green Swan include Peter Clausi, CEO of Green Swan and Edward Stringer, a Director of Green Swan. Messers. Clausi and Stringer will receive 107,143 and 71,429 shares respectively cumulatively representing approximately 7% of the 2,600,244 Green Swan shares to be issued.
Upon completion of the proposed transaction, a finder’s fee in the form of 78,007 shares of Green Swan will be paid to Fred Gruehl who is a shareholder of Green Swan and is one of the vendors of the Tempus shares.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian company currently engaged in the business of acquiring, exploring, and dealing in mineral properties in Canada, and has been given a mandate by its shareholders to seek diversification opportunities. Green Swan has 26,065,843 shares outstanding, and a proven leadership team. Green Swan is well-poised 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.