VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - Global Green Matrix Corp. (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) ("Global Green" or the "Company") announces that it will undertake a non-brokered Private Placement consisting of up to 20,000,000 units (the "units") at a price of $0.05 per unit for gross proceeds of up to $1 mill. Each unit is comprised of one common share of the Issuer (a "Share") and one share purchase warrant (a "Warrant"). Each warrant entitles the Subscriber to purchase one additional common share of the Issuer for a period of 24 months from the closing date at a price of $0.15 per share.
The warrants are subject to an accelerated expiry stating that if at any time, after an initial 4 month hold period, the closing price of Global Green's common shares on the TSX Venture Exchange exceeds $0.25 for any 10 consecutive trading days, the warrant holder will be given notice that the warrants will expire 31 days following the date of such notice.
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 may be payable in accordance with the policies of the TSX.
The Company intends to use a portion of the proceeds to acquire additional water heating units to be used in the oil industry for fraccing purposes. The patent-pending technology of the water heating units heat with much greater safety, efficiency, fewer emissions and are significantly faster than traditional methods in use today, learn more at http://www.interceptrentals.com. In addition, some of the proceeds will be used for general working capital.
The Company further announces that pursuant to the Company's Stock Option Plan it wishes to grant 500,000 stock options at a price of $0.15 per common share to a consultant of the Company. As per the Company's Stock Option Plan, the options granted are exercisable until December 5, 2017. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Global Green Matrix Corp. (www.globalgreenmatrix.com)
Global Green Matrix Corp. provides environmentally sound solutions for oilfield waste disposal and is primarily involved in the recovery of reusable products from waste. With the acquisition of Intercept Rentals, and a newly developed, safer, faster and cost effective frac water heating technology, GGX will continue to focus its efforts on marketing its eco-friendly products to the resource sector in Canada and the USA.
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.