TSX.V Symbol: "GRB"
Issued and Outstanding: 12,465,227
NEWPORT BEACH, CA, April 27, 2015 /PRNewswire/ - Greenbriar Capital Corp. (TSXV: GRB) (OTC: GEBRF) is pleased to announce its partnership with Atherton Pacific Green ("APG") of Newport Beach California for engineering, procurement, and construction of the 100 MW "Smart Grid" Montalva Photovoltaic Solar Project located in Puerto Rico, USA. Greenbriar has also retained CV Brokerage Inc. ("CV Brokerage") of the Philadelphia area as its financial advisor to arrange project financing for the Solar Project. Financial close for this project will be subject to the usual and customary due diligence for a solar project of this size as well as third party approvals. CV Brokerage will arrange a conventional project capital structure comprising of senior lenders, tax equity investors and appropriate subordinate mezzanine lenders wherever needed. Greenbriar will build and own 100% of the project. The annual production is estimated at 240 million kwh per year and about $60 million in annual revenues.
APG will collaborate with Greenbriar by providing industry leading solar, storage, and smart grid technical oversight. In this regard, Jane Wu, CEO of APG with over 20 years of clean tech experience, will be providing technical peer review and expertise necessary for a solar project of this importance and magnitude to reach completion.
Greenbriar Capital Corp. has engaged CV Brokerage, a U.S. registered broker-dealer, as its corporate financial advisor in connection with the placement of units in the common stock of Greenbriar Capital Corp at various prices beginning at $1.50 per unit. Each unit comprises of one common share and one-half share purchase warrant entitling each full warrant to be convertible into a common share at $1.75 per share for a period of 5 years from the date of issuance.
Jeff Ciachurski, CEO of Greenbriar Capital Corp states: "we are delighted to have APG join the project. Montalva is a fully integrated large utility scale (up to 146 Megawatt dc - 100 Megawatt ac) solar photovoltaic project with storage and smart grid solution. The size and sheer output of this project will be the largest in the Caribbean, providing the citizens of Puerto Rico with a source of inexpensive, reliable, and clean renewable energy for decades to come, offsetting expensive and dirty oil based generation that has been plaguing the Island for over half a century."
Jane Wu, states: "I am thrilled to be collaborating with Greenbriar on this exciting project. With the best solar irradiation on the Island and available superior technology, the Montalva project is a showcase for both the people of Puerto Rico and the stakeholders of Greenbriar Capital Corp."
About Atherton Pacific Green
Atherton Pacific Green is a global renewable energy and smart city management firm along with vertically integrated solutions from manufacturing to design and installation to handheld energy management and monitoring. APG is a technology leader that is changing the way homeowners, businesses and governments use electricity and strives to be the "low cost leader with disruptive technology". APG's expertise is turn-key renewable smart system - the science, the technology, and the product.
About CV Brokerage
CV Brokerage Inc. is a 100% woman-owned broker-dealer specializing in agency only, best execution services for companies, institutions, fund of funds, hedge funds, pensions, endowments, foundations and high net worth investors. CV Brokerage works closely with its clients to understand their goals and implement their strategies in multiple asset classes from a single platform, while placing their needs at the forefront of market activity. CV Brokerage combines industry credentials (including FINRA membership), extensive experience, responsive client service and dedicated commitment to obtaining the full measure of worth for its clients. CV Brokerage delivers a high level of service, principled professionalism, confidentiality and a willingness to fully commit the firm to achieving its clients' goals. The Women's Business Enterprise National Council has certified CV Brokerage.
About Greenbriar Capital Corp.
Greenbriar Capital Corp is a leading specialized developer of renewable energy and sustainable real estate projects. With contracted long term, high impact, renewable energy 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. Such statements in this news release include, but are not limited to, the Company's discussion concerning the Offer. 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 and annual information contained in the Company's Annual Report filed with the British Columbia Securities Commission and 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.