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Greenscape Secures Additional Debt Funding for Green Park DIA
Greenscape Secures Additional Debt Funding for Green Park DIA
Published 05-03-10
Submitted by Greenscape Capital Group Inc.
(Marketwire) - Greenscape Capital Group Inc. ("Greenscape") (TSX VENTURE: GRN) is pleased to announce that it has arranged for a loan of US $2,600,000 for purposes of meeting its initial obligations toward the construction of the Green Park DIA.
This US $2,600,000 arranged is in addition to the previously announced US $8,500,000 in project debt funding that was arranged by RBC Capital Markets Real Estate Group.
For more details on Denver Green Park DIA, refer to Greenscape News Release dated April 7, 2010.
Bryan Slusarchuk, Greenscape CEO, states, "Green Park DIA will become a significant asset for Greenscape and we are pleased that it has attracted such strong recognition and financing support."
This interim loan, which is not secured against the Denver Green Park DIA project, will be repaid from Greenscape's next equity financing, scheduled to close within 90 days. Further details of the loan will be provided upon closing.
About Greenscape Capital
Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape Capital owns 100% of Green.Switch Capital, a Canadian based company focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. Green.Switch provides full-service energy retrofitting for commercial clients. The Green.Switch energy retrofit process begins with the assessment of client issues and infrastructure, through to project design, capitalizing improvements, attaining government incentive grants when applicable, contracting, installation and monitoring. When marked opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals. www.greenscapecapital.com | www.greenswitchcapital.com
ON BEHALF OF THE BOARD
Bryan Slusarchuk, CEO and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Green.Switch's future construction of a parking garage, revenues and contracts. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There is no assurance the interim loan will be closed on terms acceptable to the Company, or at all. There are risks associated with borrowing funds on a secured basis, including the rights of the creditor to seize assets in the event of default.
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 news release.
