Alterra Power Corp.

September 16, 2014 18:59 ET

Alterra Power Corp.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2014) - Alterra Power Corp. ("Alterra"), of 600-888 Dunsmuir Street, Vancouver, British Columbia, V6C 3K4, today announced that on September 16, 2014, it acquired ownership of 684,000 common shares of Greenbriar Capital Corp. ("Greenbriar") and 684,000 common share purchase warrants of Greenbriar (each such warrant, a "Warrant"), pursuant to Section 2.14 of National Instrument 45-106 Prospectus and Registration Exemptions. The common shares and the Warrants represent approximately 10.4% of the total number of the then issued and outstanding common shares of Greenbriar (the "Common Shares") on a partially diluted basis. The Common Shares and the Warrants were issued from treasury. The acquisition of "Units", with each Unit comprised of one Common Share and one Warrant, was completed at a price of US$1.461988 (CDN$1.60) per Unit. The consideration was paid by the extinguishment of a debt of US$1,000,000 that Greenbriar owed to Alterra.

The Canadian dollar translation of US dollar amounts is provided using the Bank of Canada noon exchange rate on August 12, 2014 (the day immediately prior to the announcement of the private placement) of US$1.00:CDN$1.0944.

Alterra now owns, directly or indirectly, or exercises control or direction over, a total of 684,000 Common Shares and 684,000 Warrants, representing approximately 10.4% of the total number of the then issued and outstanding Common Shares on a partially diluted basis.

Alterra may, in the future, acquire ownership and control over additional securities of Greenbriar for investment purposes.

Contact Information

  • Alterra Power Corp.
    600-888 Dunsmuir Street
    Vancouver, British Columbia V6C 3K4
    (604) 235-6719
    (604) 682-3727 (FAX)