Green Swan Capital Corp. Closes Its Qualifying Transaction
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 12/30/11 -- Green Swan Capital Corp. ("Green Swan")(TSX VENTURE: GSW), a capital pool company, has closed its qualifying transaction previously announced on December 23, 2011 (the "Qualifying Transaction"). The TSX Venture Exchange (the "Exchange") is expected to issue its Final Exchange Bulletin on or about January 11, 2012, subject to its satisfactory receipt and review of the final documentation in connection with the Qualifying Transaction.
The Transaction resulted in Green Swan acquiring an option to acquire up to a 70% interest in certain mining claims of Melkior Resources Inc. ("Melkior"). Under the terms of the Option Agreement (as described in the Filing Statement filed on SEDAR), Green Swan will issue 2,000,000 common shares and 1,000,000 warrants for common shares to Melkior within ten (10) days of the Final Exchange Bulletin. Further details regarding the Qualifying Transaction can be found in Green Swan's Filing Statement dated December 23, 2011, a copy of which can be obtained under Green Swan's corporate profile on SEDAR at .
Concurrently with the closing of the Transaction, Green Swan completed private placement financings of $647,019.98 in conjunction with the Transaction, by way of flow-through and cash financings (the "Financings") and had engaged Fin-XO Securities Inc. to act as agent (the "Agent") with respect to $602,270 of the Financings, to s olicit subscriptions on a commercially reasonable efforts basis. The flow-through financing is comprised of 1,807,846 shares at a price of $0.13 per flow-through share. The cash financing is comprised of 4,120,000 units at a price of $0.10 per unit, where each unit consists of one common share of Green Swan and one half common share purchase warrant, where the holder of one common share purchase warrant will be able to purchase one additional common share of Green Swan at a price of $0.20 for a period of 24 months from the closing date of the financing.
The Agent has received an agent's option with respect to the subscriptions solicited by them (the "Agent's Option") for the purchase of Common Shares in Green Swan representing that number of Common Shares equal to (i) ten percent (10%) of the units issued, exercisable at a price of $0.11 per Common Share, and (ii) ten percent (10%) of the flow-through shares issued, exercisable at a price of $0.14 per Common Share, in each case for a period of twenty-four (24) months from the date of the Final Exchange Bulletin. In addition, the Agent received a marketing commission (the "Commission") in the amount of seven and one-half percent (7.5%) of the gross proceeds of the Financings.
Information about the Properties
The Properties are located in the James Bay Lowlands of northern Ontario, in the Porcupine Mining District in National Topographic System (NTS) 1:250,000 map sheets 43C, 43D. The center of the Broke Back Property (86 degrees 46' longitude and 52 degrees 86' latitude), is located 70 km southeast of the First Nations community of Webequie and consists of 61 claims totaling 837 claim units and covering 13,392 ha. The Broke Back Property consists of unpatented and unsurveyed claims presently recorded in the name of Melkior.
The center of the Riverbank Property (85 degrees 87' longitude and 52 degrees 90' latitude) is approximately 100 km east of the First Nations community of Webequie and consists of 8 claims totaling 87 claim units and cover 1392 ha. The Riverbank Property consists of unpatented and unsurveyed claims that are owned by Melkior. The foregoing properties occur within Base Map Areas (BMA) 527862, 528861, 528862 and 528854.
A National Instrument 43-101 compliant geological report of the Property has been prepared by an independent geologist, Mr. J. Ian Lawyer, P.Geo. This report has been filed and can be viewed on SEDAR ().
Green Swan
Green Swan will be engaged in the exploration and, if warranted, development and mining of the Property as well as the acquisition, exploration and potential development of other mineral resource properties.
The common shares of Green Swan will continue to be traded on the Exchange under the same trading symbol, "GSW".
The board of directors and officers of Green Swan are now comprised of the following individuals:
Peter M. Clausi has been a director of a number of public companies and is currently CEO and director of GTA Resources and Mining Inc., and a director of Falcon Gold Corp., both of which are listed on the TSX Venture Exchange. Mr. Clausi holds a Bachelor of Arts from Laurentian University and J.D. from Osgoode Hall Law School. Mr. Clausi has extensive experience as a business advisor to public and private companies, including the position of chief compliance officer of Ascenta Finance Ltd., an exempt market dealer.
Brian Crawford is a chartered accountant with over 30 years experience providing business advisory and corporate finance services to private and public companies. Brian is currently the Chief Financial Officer of Falcon Gold Corp. and GTA Resources and Mining Inc., both of which are listed on the TSX Venture Exchange. Brian holds a Bachelor of Commerce from the University of Toronto and earned his professional designation with Deloitte & Touche LLP. Mr. Crawford is a former partner with BDO Canada, LLP and currently is President of Brant Capital Partners Inc.
Jamie Lavigne has been involved in mineral exploration and development for over 25 years. Mr. Lavigne has a BSc (Geology) from Memorial University and an MSc (Geology) from the University of Ottawa. Mr. Lavigne has held senior technical and management positions with public mining companies including Alexis Minerals Corporation., Garson Gold Corp., FNX Mining Company Inc. and WMC International Ltd., and is currently Vice President Exploration and Director of Falcon Gold Corp. Mr. Lavigne is currently a Director of Landdrill International Inc.
Daniel Hilton is a Chartered Accountant with a broad range of experience in strategic planning and leadership of finance and operations. He has served on the Board of Directors of Green Swan since its inception in 2008, serves on the Board of Directors of another CPC trading under the symbol: TBC.P and serves as a director of LeoNovus Inc., a company listed on the TSX Venture Exchange. Mr. Hilton is currently Executive Director of the Conservative Party of Canada. He was previously the Director of Finance and Administration, Research and Development for World Heart Corporation and a co-founder and CFO of Kids Futures Ltd., a national loyalty program which in December of 2005 became a publicly traded entity on the TSX Venture Exchange. Daniel was formerly the Vice-President Finance and Technology and Senior Vice-President, Corporate Development & Administration of Enablence Technologies Inc., a publicly traded entity on the TSX Venture Exchange. Daniel earned his B.COMM from the University of Ottawa, and earned his professional designation with the firm Deloitte & Touche LLP. Mr. Hilton holds graduate business degrees with both Queen's University and Cornell University.
Edward Stringer has over forty two years of extensive experience in mining and mineral exploration and has held senior management positions in several private and public mining related companies. Mr. Stringer is currently CEO and a director of Falcon Gold Corp. and a director of Landdrill International Inc., both TSX Venture Exchange listed companies. Previously Edward has served as a director and Executive Chairman of Garson Gold Corp., and as a director and CEO of Garson Resources Ltd.
James Glass has in excess of twenty years experience in mining finance. James is currently President of Ascenta Capital Partners Inc. and Amadeus Capital Inc., and is a director of Prize Mining Corp. and Philippine Metals Inc., both TSX Venture Exchange listed companies, and a director of HLD Land Development LP an entity listed on the CNSX.
This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR.
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.
Contacts:
Green Swan Capital Corp.
Mr. Peter M. Clausi
(905) 681-1925
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Datum: 30.12.2011 - 21:10 Uhr
Sprache: Deutsch
News-ID 100353
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OTTAWA, ONTARIO
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Investment Services & Trading
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