VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - Global Green Matrix Corp. ("Global Green" or the "Company") (TSX VENTURE:GGX)(OTCBB:GGXCF)(BERLIN:A0LGDN)(FRANKFURT:POZ) announces that it is proceeding with Non Brokered Private Placement as previously announced and has, due to market demand, increased the total units available to 18,000,000 units at a price of $0.05 per unit. The Company has sold 1,480,000 units for total proceeds of $74,000 pursuant to the closing of the first tranche and expects to complete the final closing by the end of the month.
Each Unit consists of one common share in the capital of the Company and one share purchase warrant (the "warrants"). Each warrant is exercisable to acquire an additional common share for a period of 2 years from the closing date at a price of $0.15 and 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 Company may pay finder's fees in accordance with the policies of the TSX-V upon the final closing of the Private Placement.
The offering is subject to the approval of the TSX Venture Exchange.
About Global Green Matrix Corp. (www.globalgreenmatrix.com)
Global Green Matrix Corp. is an Oilfield Services Firm specializing in unconventional energy extraction and related services such as fracking, tar sands processing and other unconventional energy sources, such as Municipal Solid Waste. GGX uses its access to a set of proprietary technologies to provide its clients the tools to go beyond traditional extraction techniques and increase the productivity of their unconventional field operations.
For further information about the Company or its Non Brokered Private Placement visit our website at www.globalgreenmatrix.com.
Randy Hayward, President
Global Green Matrix Corp.
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.