Greenscape Capital Group Inc.

Greenscape Capital Group Inc.

August 27, 2010 09:30 ET

Greenscape Capital Group Inc.: Construction at Denver Green Park LLC Site Substantially Ahead of Schedule

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) - Greenscape Capital Group Inc. (TSX VENTURE:GRN) -

Announcement Highlights:

  • steel erection on Building A to complete September 3, 2010
  • steel erection to start on Building B three weeks ahead of schedule

Greenscape Capital Group Inc. ("Greenscape") is pleased to provide the following corporate update on construction at Denver Green Park LLC's 4,200 stall green parking facility serving the Denver International Airport in Denver, Colorado.

Construction is significantly ahead of schedule and is on budget. The facility is targeted to open in November 2010.

Steel erection on Building A is scheduled to complete on September 3rd, 2010. Delivery of steel for Building B (the larger of the two buildings) will take place on August 30th, 2010 with roof and wall sheets arriving approximately one week later. The steel erector will start on Building B on August 30th, 2010 which is approximately 3 weeks ahead of schedule. It is now estimated that the steel erection will complete on Building B on October 5th, 2010.

Greenscape is completely current and compliant with all material obligations and commitments relating to the rapidly advancing development. To date, Greenscape has injected approximately $6 million in capital to the construction process. As previously announced, Denver Green Park LLC has also closed a US $8.5 million loan with Wells Fargo Bank, having a 3 year term and an all-in fixed interest of 5.45% per annum until maturity.

Bryan Slusarchuk, Greenscape CEO, states, "It is wonderful to see the Denver project advancing so rapidly. Being substantially ahead of schedule and on budget is reflective of the hard work and professionalism of the crew onsite in Denver. Greenscape recently announced that Denver will serve as a model for future green parking developments with our partners at Propark so we are especially pleased to see the construction process at Denver exceeding expectations."

About Propark

Propark America is one of the nation's leading parking companies, providing sustainable parking management and parking-related real estate services across the country. Founded in 1984, Propark has successfully merged green, environmental ideals into daily operations, while preserving the company's entrepreneurial spirit and unique culture of creative innovation. Propark's corporate ethos and growing portfolio of diverse properties are transforming the parking industry's approach to sustainable design, development and operations.

About Greenscape Capital Group

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 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.


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 future 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, when they will occur, or if they do occur, what benefits the company will obtain from them. No assurance can be made that future projects replicating the Denver model will be secured.

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.

Contact Information