Mr. Jeffrey Ciachurski reports

GREENBRIAR CAPITAL FILES US $150 MILLION DOE LOAN GUARANTEE

Greenbriar Capital Corp. has filed with the U.S. Department of Energy (DOE) a loan guarantee application for $150-million (U.S.), pursuant to solicitation No. DE-SOL-0007154, dated July 3, 2014, and amended Nov. 29, 2016. Greenbriar has met all mandatory requirements for filing as specified in the solicitation, including all the materials and attachments. Its Part I submission application fee of $50,000 (U.S.) was wired per the instructions on Jan. 16, 2017.

The company intends to submit its complete Part II submission on or before the due date for the Part II reviews as set forth in Section IV.A of the solicitation as amended. Based on the application process described in the solicitation, the company is prepared to close the financing on or about Dec. 15, 2017, and begin construction on the 100-megawatt Montalva solar project with a contract value of $1.9-billion (U.S.) over 35 years.

The DOE loan guarantee program is financed with $40-billion (U.S.) for credit support to eligible renewable energy and clean energy projects utilizing state-of-the-art technology. The program provides a U.S. federal guarantee on all project debt obligations, drastically lowering financing costs to U.S. Treasury yield rates, plus a small spread of between 100 to 140 basis points. The program further lowers closing and legal costs.

Greenbriar closed the second and final tranche of a non-brokered private placement financing of convertible debentures that was announced on Oct. 11, 2016. The gross proceeds to the company from this second tranche was $150,000. As disclosed in the company's earlier news release, the debentures have a maturity date of three years from the date of issue, bear interest at a rate of 8.0 per cent per annum payable semi-annually and will be convertible into units of the company at the holder's option at a conversion price of $1 per unit at any time prior to the maturity date. Each unit is composed of one common share of the company and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one common share of the company at a price of $1.50 per share for a period of three years from the date of issuance of the debenture. A finder's fee of 5 per cent payable in cash ($3,750) and 5 per cent payable by the issuance of warrants (3,750) was paid to PI Financial Corp.

The debentures, any shares issued upon the conversion of the debentures into units and any shares issued upon the exercise of any warrants comprising the units are subject to a hold period expiring at midnight on May 13, 2017.

About Greenbriar Capital

Greenbriar Capital is a leading developer of renewable energy and sustainable real estate projects. 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.