Global Green Matrix Corp.
OTC Bulletin Board : GGXCF

November 10, 2011 16:49 ET

Global Green Matrix Corp. Announces Proposed Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - Global Green Matrix Corp. (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) ("Global Green" or the "Company") announces that it intends to complete a non-brokered Private Placement consisting of up to 25,000,000 common shares at a price of $0.05 per share for gross proceeds of up to $1.25 million.

All securities issued in connection with the Private Placement will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. A finder's fee of up to 8% of the gross proceeds of the offering may be payable, on all or a portion of the funds raised pursuant to this offering.

The Company intends to use a portion of the proceeds in it's ongoing investigation into eco-friendly technologies and solutions for municipal solid waste. Global Green is also examining opportunities in oilfield waste disposal and the reclamation of slop oil. In addition, some of the proceeds will be used for general working capital.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Proivder (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

  • Global Green Matrix Corp.
    Randy Hayward
    250-247-2053 (FAX)