Greenbriar to proceed with contractual enforcement
Greenbriar Capital Corp (C:GRB) Shares Issued 13,824,227 Last Close 9/12/2016 $0.50 Monday September 19 2016 - News Release Mr. Jeffrey Ciachurski reports GREENBRIAR CAPITAL CORPORATE UPDATE Greenbriar Capital Corp. has made substantial progress with its legal case against the Puerto Rico Energy Power Authority (PREPA) and is several steps further in its objective of building the 100-megawatt Montalva solar project located in the municipalities of Montalva and Lajas in Puerto Rico. On Sept. 9, 2016, the Superior Court of Puerto Rico denied an application by PREPA to have the company's case for contractual enforcement and damages dismissed. This is a significant victory for Greenbriar as the Company may proceed ahead at full speed to have the court enforce our agreement, or in lieu of enforcement, USD $210 Million in monetary damages, or both. The Company has also named key individuals like the Executive Director as named parties to our case and the Company will be pursuing claims against such individuals through PREPA's Directors and Officers Liability insurance. Greenbriar also proudly reports that it appears the current political administration of Puerto Rico that oversees PREPA may easily lose this upcoming November election, allowing the other political party that supports renewable energy to honor the binding contracts that exist between private industry such as Greenbriar and PREPA. Everyone of the millions of citizens in Puerto Rico except the current leadership of PREPA and the soon to be gone senior political leadership, is baffled why PREPA is not honoring the Company's executed agreement that creates over $300 Million of construction funds, 600 workplace jobs during construction, 35 high paying full time jobs, $12 Million in immediate taxes, $120 Million in long term taxes, and a savings of over $1 Billion on energy costs over the 35-year life of the agreement plus a serious reduction in greenhouse gas emissions. The contract for the Company is worth $1.9 Billion over 35 years, but saves PREPA over $1 Billion based on its current costs. The reasons may reside in the current Civil Racketeering charges brought against certain individuals inside and close to PREPA who are accused of manipulating the imported oil charges used for electrical generation that cost the citizens of Puerto Rico Billions of dollars in excess charges for decades. PREPA currently burns oil and dirty fuels for two thirds of its electrical production and in PREPA's own white paper issued in June 2015, its total cost of generation is 29.2 cents per kilowatt hour versus the 15 cents per kilowatt hour in the Company's contract. The Company is both, on the right side of history, and the law. We seek Safe Harbor.