Global Green Matrix Corp.
OTC Bulletin Board : GGXCF

December 05, 2011 15:29 ET

Global Green Matrix Corp. Financing Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2011) - Global Green Matrix Corp. (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) ("Global Green" or the "Company") -

Further to the Company's news release dated November 21, 2011, the Company announces that due to the requirements of the TSV Venture Exchange, the non-brokered private placement has been reduced from 25,000,000 shares for gross proceeds of $1,250,000 to 20,000,000 shares for gross proceeds of $1,000,000.

All securities issued in connection with the offering are subject to a 4 month hold period. In connection with the reduced offering size, finders will now receive aggregate fees in the amount of $57,137.50.

The Company intends to use a portion of the proceeds in its ongoing search for eco-friendly technologies and innovative solutions for municipal solid waste. Global Green is also exploring opportunities in oil waste disposal and reclamation. In addition some of the proceeds will be used for general working capital.

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 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 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.

Contact Information

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