TSX.V Symbol: "GRB"
Issued and Outstanding: 11,312,000
NEWPORT BEACH, CA, Oct. 30, 2013 /PRNewswire/ - Greenbriar Capital Corp. (TSX.V: GRB) (OTC: GEBRF) is pleased to announce that it has appointed both a new Chairman and President.
The Company has appointed Mr. Daniel Kunz, P.Eng, MBA, as Chairman of the Board of the Company. Mr. Daniel Kunz, of Boise, Idaho, is a renewable energy expert and a successful geothermal power plant developer. Mr. Kunz created and led the team that built the first commercial geothermal electrical power plant in the Pacific Northwest. Governor C.L. "Butch" Otter recently appointed Mr. Kunz to the board of the Idaho Energy Resource Authority to help diversify and expand the state's economy through improvements in electric generation and transmission infrastructure.
Mr. Kunz is a skilled leader who forged project finance arrangements resulting in the first geothermal energy power project to monetize the Federal Production Tax Credit. Mr. Kunz directed and participated in negotiations of power purchase agreements; EPC contracts; construction, project finance and long term loan documents; equity and tax equity arrangements; and transmission, insurance and security agreements. He is a recognized and successful company builder who helped transform individuals with little relevant experience into qualified participants in the companies. His commitment to success is demonstrated by his tireless efforts to lead, market, finance the company and set high standards through policies and his personal work ethic. He is committed to good corporate governance including Sarbanes Oxley, International Financial Reporting Standards, and GAAP requirements and has 20 years experience as CEO, President and Director of large public companies listed on major exchanges in the US, Canada, London and Hong Kong. Mr. Kunz served as President and a Director of Ivanhoe Mines Ltd. from 1999-2003.
Mr. Kunz is the Founder of U.S. Geothermal Inc. (HTM:NYSE Mkt), a successful renewable energy company, and recently retired as its President, CEO and Director to pursue new opportunities. Mr. Kunz holds a Masters of Business Administration and a Bachelor of Science in Engineering Science. In 1995 Mr. Kunz was named its Distinguished Alumni from the University on Montana Tech where he is currently a member of the advisory board for the Engineering Department. He was a member of the Global Roundtable on Climate Change and the Clinton Global Initiative - Energy Track. Mr. Kunz currently chairs the Idaho Strategic Energy Alliance's Geothermal Task Force and serves on the board of directors of several public companies involved in natural resource development.
The Company appoints Mr. Cliff Webb, P.Eng, to the role of President of the Company. Mr. Webb is a seasoned executive and engineering management professional with over 45 years of professional engineering experience and over 35 years of experience in utility-scale renewable energy. Mr. Webb has held executive positions at various renewable energy companies engaged in solar, wind, biomass, cogeneration and geothermal energy. Mr. Webb pioneered utility-scale solar generation as Executive Vice President of Luz Development and Finance where Mr. Webb was directly responsible for the development, permitting and construction oversight of the Luz SEGS units which until recently was the world's largest combined solar generating facility with over 300 MW of installed capacity. In addition, Mr. Webb has extensive utility experience both with Southern California Edison Company where he developed and managed its renewable energy procurement program and as a project developer negotiating utility power purchase and transmission interconnection agreements. Mr. Webb is also a former Division Chief of the Engineering and Environmental Sitting Division of the California Energy Commission and was a nuclear advisor to Governor Jerry Brown including working directly with the Governor and representing the State of California at hearings before the Nuclear Regulatory Commission. Mr. Webb has a Bachelor of Science degree in Mechanical Engineering from University of California at Berkeley, various graduate studies in engineering at the University of Houston and Colorado State University and is a Registered Professional Engineer.
The Company will grant 250,000 stock options at a price $2.50 per share with a term of 5 years.
About Greenbriar Capital Corp.
Greenbriar Capital Corp. 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 value assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President, Chief Executive Officer and Director
Neither the 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.
Certain statements in this press release constitute "forward-looking statements" under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "projects", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to the state of the Company's business activities and various factors discussed in the Company's annual report filed with securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
SOURCE Greenbriar Capital Corp.