Green Swan Announces Update to Brokered Financing and Grant of Options
GSW: TSX-V
GREEN SWAN ANNOUNCES UPDATE TO
BROKERED FINANCING AND GRANT OF OPTIONS
Burlington, ON. April 10, 2017. Green Swan Capital Corp. (the “ Company”) (TSXV:GSW)
announces that the closing of its previously disclosed brokered financing agreement with
Industrial Alliance Securities Inc. (the “Offering”) is now expected to close on or before April
30, 2017.
The Offering will consist of:
(a) up to $350,000 in units (the “Units”), with each Unit consisting of one common share
and one common share purchase warrant. Each Unit shall be priced at $0.10 (ten cents)
and each common share purchase warrant shall be exercisable for an 18-month period at
$0.15 (fifteen cents); and
(b) up to $650,000 in common shares issued on a flow-through basis (the “Flow-
Through Shares”), which shall consist of approximately $150,000 in Flow-Through
shares issued to residents of Quebec and approximately $500,000 in Flow-Through
Shares issued to Canadian residents outside Quebec. Each share shall be priced at $0.12
(twelve cents).
In addition, the Company has granted the Agent an option to cause the Company to issue up to
an additional $150,000 in Units and/or Flow-Through Sh ares in such combinations as mutually
agreed by the Agent and the Company.
Proceeds from the sale of the Units will be used for community engagement, exploration, data
compilation, drilling, and for gene ral purposes and administration co sts. Proceeds from the sale
of the Flow-Through Shares will be used for “C anadian Exploration Expenses” which qualify as
“Flow-Through Mining Expenditures” for the purposes of the Income Tax Act (Canada) and the
Corporation will renounce such expenses with an effective date no later than December 31, 2017,
and in more detail, the proceeds from the Flow-Through Shares to be issued to Quebec residents
will be used to explore Green Swan’s Chilton Cobalt property, in Quebec.
A commission will be payable to the Agent on closi ng of cash equal to 7% of the gross proceeds
of the Offering, broker warrants eq ual to 10% of the aggregate num ber of Units sold pursuant to
the Offering (the “Agent’s Unit Warrants”) and broker warrants equal to 10% of the aggregate
number of Flow-Through Shares sold pursuant to the Offering (the “ Agent’s FT Warrants”).
Each Agent’s Unit Warrant will en title the Agent to purchase one Unit at a price of $0.10 (ten
cents) and each Agent’s FT Warrant will entitle the Agent to purchase one common share of the
Company at a price of $0.12 (twelv e cents) at any time prior to the date that is 18 months from
the Closing Date. The Agent may syndicate all or part of the Offering.
The Offering will take place by way of a private placement to qualified investors in those
jurisdictions where the Offering can lawfully be made. The secu rities to be issued under the
Offering will be subject to a regulatory four month and one da y hold period, from the closing.
Closing is subject to stock exchange approval.
As previously announced shareholders are re minded to vote and/or attend the April 24, 2017
shareholder meeting to approve the Company’s name change to CBLT Inc. For more detail,
shareholders are encouraged to download the circular and other meetings materials from
www.sedar.com. Exchange approval will be required to effect the name change and the symbol
change to “CBLT”.
Green Swan granted a total of 825,0 00 stock options to consultants and directors, effective April
7, 2017, exercisable at $0.11 cents each and expiring April 6, 2022.
Green Swan continues to build its impressive port folio of assets in mini ng-friendly jurisdictions,
including its main Sudbury asset, Dryden Coba lt, Otto Lake, Chilton Cobalt, Geneva Lake,
Ryliejack and Mikayla.
Forward Looking Statements
This news release contains certa in statements that constitute fo rward-looking statements as they
relate to the Company and its management. Forward-looking statements are not historical facts but
represent management’s current expectation of future events, and can be identified by words such as
"believe", "expects", "will", "intends", "plans", "p rojects", "anticipates", "estimates", "continues"
and similar expressions. Although management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that they will prove to be
correct.
By their nature, forward-looking statements includ e assumptions and are subject to inherent risks
and uncertainties that could cause actual future results, conditions, actions or events to differ
materially from those in the forward-looking statements. If and when forward-looking statements are
set out in this new release, the Company will also set out the material risk factors or assumptions
used to develop the forward-looking statements. Except as expressly required by applicable
securities laws, the Company assu mes no obligation to update or revise any forward-looking
statements. The future outcomes that relate to forward-looking statements may be influenced by
many factors, including, but not limited to: re liance on key personnel; risks of future legal
proceedings; income tax matters; availability and terms of financing; distribution of securities; effect
of market interest rates on price of securities, and potential dilution.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian minera l exploration company w ith a proven leadership
team, targeting cobalt in reliable mining jurisdic tions. 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
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.