Green Swan Capital Corp.
TSX VENTURE : GSW.P

January 12, 2011 16:50 ET

Green Swan Capital Corp. Announces Its Transfer to NEX and New Corporate Secretary

OTTAWA, ONTARIO--(Marketwire - Jan. 12, 2011) -

(Not for Distribution to the United States Newswire Services or for Dissemination in the United States)

Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW.P) announces that, effective Thursday, January 13, 2011, its listing will transfer to NEX, where its shares will be listed under the symbol "GSW.H". NEX is a separate trading board of the TSX Venture Exchange (the "TSXV"). There is no change in the Corporation's name, no change in its CUSIP number and no consolidation of capital.

In conjunction with the transfer, Green Swan's Tier classification will change from Tier 2 to NEX and the Filing and Service Office will change from Toronto to NEX. Trading in Green Swan shares remains suspended pursuant to the TSXV Bulletin dated October 15, 2010.

In conjunction with the transfer to NEX, on January 6, 2011 Green Swan cancelled 1,040,000 Common Shares of the Corporation (the "Cancelled Seed Shares"). The Cancelled Seed Shares were all originally purchased for less than the purchase price of the Common Shares purchased in the Corporation's initial public offering. At this time, Green Swan has 7,040,000 Common Shares issued and outstanding, of which 1,040,000 Common Shares are held in escrow pursuant to the escrow agreement between Green Swan, Equity Transfer & Trust Company (now Equity Financial Trust Company) and certain shareholders dated June 20, 2008. Green Swan obtained the requisite shareholder approval (exclusive of the votes of non-arm's length parties to Green Swan) for the transfer to NEX and the cancellation of the seed shares at an annual and special meeting of its shareholders held on December 20, 2010 (the "Meeting").

At the Meeting, shareholders also re-elected Messrs. Morgan Cowl, John Daniel Hilton, Stephane May, Benoit Robitaille and Chris Skaarup as directors of the Corporation. Mr. Sean Caulfeild is no longer a director or corporate secretary of the Corporation. Mr. Hilton was appointed as the new corporate secretary by way of a subsequent board resolution.

Green Swan continues to work towards the completion of its qualifying transaction with Melkior Resources Inc. ("Melkior") pursuant to which Green Swan would, subject to a number of conditions, acquire certain assets of Melkior, namely an undivided one hundred percent legal and beneficial interest in and to certain mining claims located: (i) northwest of McFaulds Lake in the James Bay Lowlands in northern Ontario and (ii) west of the Attawapiskat River in the James Bay lowlands. The claims are subject to a 2.5% net smelter royalty. The proposed qualifying transaction is more fully described in Green Swan's news release dated September 13, 2010. 

Upon completion of the qualifying transaction, and subject to approval of the TSXV, it is anticipated that the Resulting Issuer will meet the Tier 2 listing requirements of the TSXV for a Mining Issuer.

For Investors

Trading in the securities of a capital pool company should be considered highly speculative. Certain information in this press release may contain forward-looking statements that are subject to risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The statements contained in this press release and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking statements unless and until required by securities laws applicable to the Corporation. Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, available on SEDAR at www.sedar.com.

Neither 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 release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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