Green Swan Capital Corp. Announces Financing
(firmenpresse) - BURLINGTON, ONTARIO -- (Marketwire) -- 06/18/12 -- Green Swan Capital Corp. (TSX VENTURE: GSW) announces its intention to immediately effect a non-brokered common share financing (the "Offering"), to a maximum of $500,000.
The proceeds of the Offering will be used to fund exploration on some of GSW's British Columbia properties and for working capital. GSW intends to effect some exploration on at least one of its properties in the Golden Triangle in north BC near Pretium Resources Inc., and on at least one of its properties in south BC near the Brenda Mine.
The most likely exploration targets in the Golden Triangle are one or more of Peggy, AshleyGold and Ryliejack, each of which is 100% owned by GSW. Each of these assets is near the significant major discoveries found by Pretium Resources Inc. at Brucejack, and each will benefit from the near-term $550 million construction of the 344 km, 287 kV Northwest Transmission Line (visit BC Hydro's website at to track the progress of this infrastructure).
The most likely exploration target in south BC is the 100%-owned 519 hectare Mikayla property, which is near Xtrata Canada's Brenda Mine and near the Empress and Crowrea properties. Mikayla is immediately adjacent to Almaden Minerals Ltd.'s Munro Lake property. Almaden has made public disclosure that a large IP anomaly underlies its Munro Lake property, on which Almaden has drilled 12 diamond drill holes. Included in Almaden's results was a 14.8 metre interval in hole 96-3 that averaged 0.10% molybdenum, 0.05% copper and 15.1 g/t silver.
The Offering will consist of Units of GSW at a price of CDN $0.10 per Unit. Each Unit shall consist of one (1) common share of GSW ( "Common Share") and one-half (1/2) warrant to purchase an additional Common Share at a price of $0.15 (the "Warrant") for a period of eighteen (18) months (the "Warrant Expiry Date"). If the closing price of the Common Shares as quoted by the primary exchange upon which the Common Shares trade or are quoted is equal to or greater than $0.30 for a period of twenty (20) consecutive trading days, then the Warrant Expiry Date shall be the earlier of thirty (30) calendar days after the end of such 20-day trading period and the Warrant Expiry Date, without further notice or action being required by or of the Corporation, and if any Warrants remain unexercised as of such accelerated warrant expiry date such unexercised Warrants shall expire.
GSW will pay to any participating registrant a cash commission of 7% of the gross proceeds of the Offering sourced by such registrant and broker warrants equal to 7% of the number of units issued by GSW with respect to the Offering as sourced by such registrant. These broker warrants have the same characteristics as the Warrants, outlined above.
The transactions contemplated above are subject to regulatory approval.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian company engaged in the business of acquiring, exploring and dealing in mineral properties in Canada. Green Swan intends to deliver value through exploration and through corporate M&A activities.
Forward Looking Statements
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. GSW 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 GSW currently foresees. Discussion of the various factors that may affect future results is contained in GSW's recent filings, available on SEDAR. GSW assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.
On Behalf of the Board of Directors
GREEN SWAN CAPITAL CORP.
Peter M. Clausi President, CEO and Director
Neither 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.
Peter M. Clausi
905-681-1925
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Datum: 18.06.2012 - 15:40 Uhr
Sprache: Deutsch
News-ID 157440
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BURLINGTON, ONTARIO
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