Mr. Jeff Ciachurski reports
GREENBRIAR CAPITAL CORP CLOSES NON-BROKERED PRIVATE PLACEMENT
Greenbriar Capital Corp. has closed the non-brokered private placement announced by the company on Feb. 15, 2019. The company has issued 536,700 units at a price of $1.03 per unit for gross proceeds of $552,801. Each unit comprises one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional share in the capital of the company at a price of $1.50 until April 15, 2021.
The common shares comprising the units and any shares issued upon the exercise of any warrants are subject to a hold period until Aug. 16, 2019. Proceeds from the private placement will be used by the company for general working capital purposes.
William Sutherland, a director of the company, acquired 20,000 units, which constitutes a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The related party transaction is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101, and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to subsection 5.7(1)(a) of MI 61-101 as the fair market value of the transactions do not exceed 25 per cent of the company's market capitalization. A material change report as contemplated by the related party transaction requirements under MI 61-101 was not filed more than 21 days prior to the closing as Mr. Sutherland's participation was only recently determined.
About Greenbriar Capital Corp.
Greenbriar is a leading developer of sustainable real estate, real estate blockchain, artificial intelligence and renewable energy. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value.
We seek Safe Harbor.
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