Global Green Matrix Corp.
OTC Bulletin Board : GGXCF

December 12, 2011 09:30 ET

Global Green Announces Shares for Debt Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2011) - Global Green Matrix Corp. ("Global Green" or the "Company") (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) announced today that it settled outstanding indebtedness of $232,855 through the issuance of 4,139,644 common shares of the Company at a deemed price of $0.05625 per common share (the "Debt Settlement"). The common shares issued in connection with the Debt Settlement are subject to a four month hold period that expires on April 10, 2012.

Randy Hayward, the President and a director of Global Green, subscribed for 955,733 common shares under the Debt Settlement. Global Green has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the common shares (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).

About Global Green Matrix: The mission of our Company is to benefit the planet by using environmentally sound processes and technologies to convert varieties of waste into usable products. The Company continues to investigate eco-friendly technologies and solutions for municipal solid waste to energy, and also in researching opportunities in oilfield waste disposal and reclamation of contaminated soil.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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 release.

Contact Information

  • Global Green Matrix Corp.
    Randy Hayward
    250-247-8689 or 604-687-8855
    604-628-5001 (FAX)