GreenAngel Energy Corp.
TSX VENTURE : GAE

GreenAngel Energy Corp.

August 04, 2015 09:00 ET

GreenAngel Convertible Debenture Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 4, 2015) - GreenAngel Energy Corp. (TSX VENTURE:GAE) is pleased to announce that is has raised $522,500 against an offering of up to $2 million in convertible debentures ("Debentures") to accredited investors as announced on April 13, 2015. GreenAngel's directors and management team have subscribed for $472,500.

Proceeds of this financing will be used to fund the Company's first Revenue Based Financing ("RBF") of $500,000. The balance of the $2 million offering will be raised to be coincident with the closing of subsequent RBF investments that are presently undergoing due diligence.

The Debentures are unsecured and pay 8% interest with semi-annual compounding, paid monthly and mature five years from the date of issuance with an option for early redemption by the company after 3 years. The Debentures are convertible at the option of the holder into common shares of the company at a conversion price of $0.14 per share. The Debentures, and any common shares issuable upon conversion thereof, will be subject to a four-month hold period in accordance with applicable securities laws. The offering is subject to the final approval of the TSX Venture Exchange.

RBF is attractive to companies that are not yet qualified for traditional bank debt but do not want to suffer the dilution and control issues associated with equity issuances. Revenue growth and strong gross margins are key attributes required by applicants in order for the successful application of RBF.

About GreenAngel Energy

GreenAngel Energy Corp. is a Revenue Based Financing company that purchases future revenue streams from technology and industrial companies in western Canada. This new financing option complements both debt and equity financing while allowing entrepreneurs to retain control of their own business. In addition, GreenAngel continues to manage existing investments in the clean energy sector, as well as providing strategic and business advisory services to ensure these companies achieve success.

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.

ON BEHALF OF THE BOARD

Michael C Volker, Chairman and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's issuance of Debentures and the completion of RBF, acceptance of the offering by the TSX Venture Exchange and the Company's use of the proceeds of the offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.

Contact Information