GreenLight Oversubscribes $550,000 Financing __________________________________________________________________________________
__________________________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA
(OTCBB: PRZCF) (FRANKFURT: PHO) (TSXV : GR)
VANCOUVER, British Columbia – March 27, 2012 – GREENLIGHT RESOURCES INC. (TSXV.GR), is pleased to announce that it has closed its non-brokered private placement financing announced on March 22, 2012 and submitted final documentation to the TSX Venture Exchange. The private placement consists of 6,000,000 units at a price of $0.10 per unit in the capital stock for total gross proceeds of $600,000. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.15 per share for a period of two years from the closing date of the private placement. Closing of this placement is conditional upon approval of the TSX Venture Exchange.
About GreenLight Resources Inc.:
GreenLight Resources Inc. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. The Company has a diversified property portfolio and is aggressively advancing several projects including graphite, manganese, REE's, rare metals and precious metals. The Company also has created two joint venture partnerships on its Keymet gold,silver and base metal property and on its Porcupine rare earth element and base metal property. These partnerships have facilitated rapid exploration of the Company's expanding property portfolio.
On Behalf of the board of directors
“Chris Anderson”
Christopher R Anderson, CEO – President 604 488-3900
Read about GreenLight Resources Inc.: http://greenlightresources.com/corporate-overview/
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