VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - GreenAngel Energy Corp ("GreenAngel") (TSX VENTURE:GAE) is pleased to announce a non-brokered private placement to accredited investors to raise a maximum of $100,000 from the issuance of one million units at a price of $0.10 per unit. Each unit is comprised of one common share in the capital of GreenAngel Energy and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.10 during the first two years of the warrant term.
The directors of the Company have agreed to collectively subscribe for a minimum of 310,000 units.
Proceeds from the private placement will be used for general working capital and to consider additional investments in emerging clean energy technologies.
The private placement is subject to receipt of necessary stock exchange approvals.
ON BEHALF OF THE BOARD
Bruce Schmidt, CEO
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Mazza Innovation, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements that reflect the expectations of management regarding the Company's listing of its common shares on the TSX Venture Exchange. 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.
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.