VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Global Green Matrix Corp. ("GGX" or the "Company") (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) is pleased to announce that it has completed the first tranche of a private placement financing of up to 6,000,000 units at a price of $0.05 for gross proceeds of $300,000. Each unit consists of one share and one share purchase warrant, with each warrant exercisable to acquire an additional share for a period of 2 years from the closing date at a price of $0.15. The Company has sold 1,480,000 units for total proceeds of $74,000 pursuant to the first tranche.
The warrants are subject to an accelerated expiry stating that if at any time, after the standard 4 month hold period, the closing price of the Company'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.
The offering is subject to the approval of the TSX Venture Exchange.
The Company will proceed with the balance of the offering, consisting of 4,420,000 units at a price of $0.05 per unit. The Company may pay finder's fees in accordance with the policies of the TSX-V upon the final closing of the Private Placement.
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, safe, faster and cost effective frac water heating technology, GGX will continue to focus its efforts on supplying innovative products and technologies 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.