Greenbriar receives 25.8 million Captiva Verde shares
2022-02-15 20:30 ET - News Release
See News Release (C-GRB) Greenbriar Capital Corp
Mr. Jeff Ciachurski reports
EARLY WARNING NEWS RELEASE: GREENBRIAR CAPITAL CORP.'S HOLDINGS IN CAPTIVA VERDE WELLNESS CORP.
This press release is being issued in connection with the filing of an early warning report pursuant to the requirements of National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues) regarding the acquisition of securities of Captiva Verde Wellness Corp. by Greenbriar Capital Corp.
On Feb. 15, 2022, the issuer and Greenbriar settled debt owed by the issuer to Greenbriar in the amount of $1.29-million through a shares-for-debt transaction. Pursuant to the terms of the transaction, Greenbriar was issued 25.8 million common shares of the issuer at a deemed price of five cents per common share for total consideration of $1.29-million.
Immediately prior to the transaction, Greenbriar held 10,687,500 common shares, representing approximately 6.87 per cent of the issuer's then issued and outstanding common shares on an undiluted basis. Immediately following closing of the transaction, Greenbriar holds 36,487,500 common shares, representing approximately 19.99 per cent of the issued and outstanding common shares on an undiluted basis.
Greenbriar and the issuer are non-arm's-length parties as the issuer and Greenbriar have common directors and officers.
While Greenbriar currently has no plans or intentions with respect to the acquired common shares, depending on market conditions, general economic and industry conditions, trading prices of the issuer's securities, the issuer's business, financial condition and prospects, and/or other relevant factors, Greenbriar may acquire additional securities or dispose of its existing securities on the basis of its assessment of market conditions and in compliance with all applicable securities regulatory requirements.
The early warning report will be filed by the acquiror in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact Jeff Ciachurski, chief executive officer, at 949-903-5906 or e-mail: info@greenbriarcapitalcorp.ca.
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