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Greenscape Closes Equity Financing Oversubscribed
Greenscape Closes Equity Financing Oversubscribed
Published 02-17-11
Submitted by Greenscape Capital Group Inc.
(Marketwire) - Greenscape Capital Group Inc. (TSX VENTURE: GRN)
Announcement Highlights:
- equity financing closes oversubscribed
- $832,500 gross proceeds raised in equity round
- closing comes shortly after the recently announced and completed $7,000,000 non revolving five year debt facility
Greenscape Capital Group Inc. ("Greenscape") is pleased to announce it has closed the equity portion of the financing it announced on January 24th, 2011 by issuing 3,330,000 units at $0.25 per unit for total gross proceeds of $832,500.00.
This $832,500.00 equity raise is in addition to a $7,000,000 debt financing that the company recently announced and completed (see Greenscape News Release dated January 24th, 2011).
Greenscape owns 81.2% of the recently constructed and fully operational Canopy Airport Parking facility servicing the Denver International Airport in Denver, Colorado. This facility is the world's greenest parking facility, incorporating a number of environmental features into its design including solar and wind energy sources, geothermal heating and cooling, LED lighting, recycled asphalt, reflective roofing, porous pavement and recycled steel.
Due to the financial stability and strengthened financial position resulting from the completion of the five year debt facility and with Denver now fully operational, Greenscape is now actively evaluating multiple additional opportunities in the parking industry.
Each unit consists of one common share and one half share purchase warrant with each full purchase warrant convertible into a common share in the company at a price of $0.35 for a period of twenty four months. The purchase warrants are subject to accelerated conversion should the common shares of the company trade above $0.75 per share for ten consecutive trading days. The units are subject to a hold period expiring four months from the date of closing in accordance with applicable Canadian securities laws. Finder's fees totaling $64,200 cash and 301,000 broker warrants were paid in conjunction with this financing
About Greenscape
Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape Capital is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When market 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
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 certain future events. 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.
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.
