Green Swan Capital Corp.

September 30, 2008 16:56 ET

Green Swan Capital Corp. Announces Completion of Initial Public Offering

OTTAWA, ONTARIO--(Marketwire - Sept. 30, 2008) - Green Swan Capital Corp. ("Green Swan" or the "Corporation")(TSX VENTURE:GSW) is pleased to announce that it has completed its initial public offering of 4,000,000 common shares at the price of $0.10 per common share for aggregate gross proceeds of $400,000 pursuant to its prospectus dated August 28, 2008, and has filed all final listing documents with the TSX Venture Exchange Inc. (the "TSX-V"). Green Swan anticipates that it will commence trading on the TSX-V in early October. Following this issuance, the Corporation has 6,080,000 common shares issued and outstanding. Investpro Securities Ltd. acted as agent in connection with this initial public offering, received a commission of $40,000, and Green Swan granted Investpro Securities Ltd. an agent's option to acquire 400,000 common shares at an exercise price of $0.10 per share for up to 24 months following closing.

Options to purchase a total of 600,000 Common Shares have been granted to the Directors of the corporation. The exercise price of the Directors' options is $0.10 per Common Share, and all other terms are in line with Green Swan's stock option plan.

Green Swan is a Capital Pool Company as defined in Policy 2.4 ("Policy 2.4") of the TSX-V and is, therefore, subject to and governed by the restrictions of Policy 2.4.

Green Swan's present intention is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction pursuant to Policy 2.4. Green Swan does not own any assets, other than cash, and has not entered into an "Agreement in Principle" as such phrase is defined in Policy 2.4.

The common shares of Green Swan will commence trading on the TSX-V under the symbol "GSW" after the final bulletin has been issued by the TSX-V.

The TSX-V does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Green Swan Capital Corp.
    Benoit Robitaille
    CEO and Director
    (613) 254-5656