Greenwich Global Capital Inc.

September 30, 2009 09:48 ET

Greenwich Global Capital Inc.: Termination of the Qualifying Transaction With Auspotash Corp. and Cancellation of Special Shareholders' Meeting

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 30, 2009) - Greenwich Global Capital Inc. ("Greenwich") (NEX BOARD:GGB.H) wishes to confirm the termination of the proposed qualifying transaction (the "Proposed QT") with AusPotash Corporation ("AusPotash") previously announced on September 22, 2009. The termination came effective upon closing of the transaction among AusPotash and Sirius Exploration PLC ("Sirius") on September 29, 2009.

Pursuant to the terms of the termination agreement among Greenwich, Sirius and AusPotash, Greenwich has agreed to terminate the definitive agreement dated 16 July, 2009 in connection with the Proposed QT and has received from Sirius a cash payment of CAD$125,000 and a total of 1,000,000 ordinary shares in the share capital of Sirius.

Further to the termination of the Proposed QT, the special shareholders' meeting that was to be held on September 30, 2009 for the purpose of approving certain matters related to the Proposed QT is cancelled and will not take place.

Greenwich will work diligently on identifying and completing a qualifying transaction to the best interest of its shareholders with another company or through the acquisition of other assets.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Greenwich Global Capital Inc.
    Daniel F. Hachey
    President & Chief Executive Officer
    (905) 206-1604