GreenAngel Energy Closes Private Placement
December 03 2013 - 12:50PM
Marketwired
GreenAngel Energy Closes Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 3, 2013) -
GreenAngel Energy Corp ("GreenAngel") (TSX-VENTURE:GAE) is pleased
to announce that on November 29, 2013 it closed its previously
announced non-brokered private placement by the issuance of 449,000
units at $0.07 per unit for gross proceeds of $31,430. Each unit is
comprised of one common share in the capital of GreenAngel and one
non-transferable common share purchase warrant. Each warrant
entitles the holder to acquire one common share at an exercise
price of $0.10 for a period of two years.
Mike Volker, a director and officer of the Company acquired
75,000 units, James Pratt, a director of the Company acquired
86,000 units, Eammon Percy, a director of the Company acquired
72,000 units and John Wiebe, a director of the Company acquired
144,000 units. Prior to completion of the private placement,
neither Mr. Percy nor Mr. Wiebe owned any common shares of
Greenangel. Mr. Pratt previously held 150,000 common shares and
upon completion of the private placement owns 236,000 common
shares, representing 1.37% of Greenangel's issued and outstanding
common shares. Mr. Volker previously held 2,024,250 common shares
and upon completion of the private placement owns 2,099,250 common
shares representing 12.2% of Greenangel's issued and outstanding
common shares. The price of the units was determined in accordance
with the policies of the TSX Venture Exchange. The acquisition of
units by insiders under the private placement was exempt from the
formal valuation and minority approval requirements of Multilateral
Instrument 61-101 pursuant to sections 5.5(a) and 5.7(a) of that
instrument. All securities issued under the private placement are
subject to a four-month hold period.
Proceeds from the private placement will be used for general
working capital and to consider additional investments in emerging
clean energy technologies. No finders received any fees in
connection with the private placement.
The private placement is subject to receipt of necessary stock
exchange approval.
ON BEHALF OF THE
BOARD
Michael Volker,
Chairman
About GreenAngel
Energy
GreenAngel Energy Corp. is the first publicly traded company
that invests solely in emerging private green technology companies.
We provide an avenue for public investors to gain access to a
portfolio of the most promising angel-stage investments across a
spectrum of green technology sectors. Our focus is commercializing
new technologies that produce renewable energy, improve energy
efficiency, or use renewable energy resources such as water, wind
and solar. We also work with companies that deploy or manage
technologies and processes that reduce greenhouse gas (GHG)
emissions. In addition to providing strategic capital to investor
companies, GreenAngel also mentors and advises investors to help
ensure these companies achieve commercial success. For more
information, please visit www.greenangelenergy.ca.
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.
Disclaimer for
Forward-Looking Information
Certain statements in this release are forward-looking
statements that reflect the expectations of management regarding
the Company's listing of its common shares on the TSX Venture
Exchange. 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.
Investor & Media:Mike Volker, ChairmanGreenAngel Energy
Corp.+1.604.644.1926mike@greenangelenergy.cawww.greenangelenergy.ca
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