Greenscape Capital Group Inc.
TSX VENTURE : GRN

Greenscape Capital Group Inc.

October 07, 2011 18:56 ET

Greenscape Closes $1,002,240 First Tranche Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2011) - Greenscape Capital Group Inc. (TSX VENTURE:GRN) -

Announcement Highlights:

  • $1,002,240 gross proceeds raised in 1st tranche of equity round
  • Proceeds enable company to target growth via recently announced CapTherm investment

Greenscape Capital Group Inc. ("Greenscape") is pleased to announce it has closed a first tranche of its private placement financing announced on August 23rd, 2011 by issuing 6,074,182 common shares at $0.165 per common share for total gross proceeds of $1,002,240.00. All securities issued pursuant to this first tranche are subject to a hold period expiring February 7, 2012.

Finder's fees totaling $57,819 cash and 500,600 broker warrants were paid in conjunction with the first tranche of this financing. The broker warrants have an exercise price of $0.20 per warrant and expire on October 5, 2013. Proceeds of the financing will enable Greenscape to target growth through the acquisition of shares in CapTherm Systems Inc. (see September 29, 2011 News Release for details) and for general working capital. Greenscape has closed its initial investment in CapTherm Systems Inc. and now owns 12.6% of the issued and outstanding shares of the company and is targeting to acquire a total of 40% of the issued and outstanding shares of the company on or before November 15th, 2011.

Greenscape's other core asset, an 81.2% ownership in Canopy Airport Parking, servicing the Denver International Airport, is growing quickly with occupancy rates and revenues exceeding budget expectations in June, July, August and September. On average, more than 2,000 paid customers per day used the facility throughout the summer months.

About Greenscape

Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals. www.greenscapecapital.com.

ON BEHALF OF THE BOARD

Mark Devereux, CEO and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding certain future events. 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.

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