Source: The Loop.
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  • Greenbriar (GRB) has released a feasibility report for Sage Ranch and announced a private placement
  • The California property has a six-year construction timeline with a projected net profit of US$173,940,459
  • The company is seeking to raise C$2.5M to put toward general working capital
  • Greenbriar Capital develops renewable energy and sustainable real estate projects
  • Greenbriar (GRB) closed up by 4.27 per cent trading at $1.22 per share

Greenbriar (GRB) has released a feasibility report for Sage Ranch and announced a private placement.

The report, by Altus Group Limited, is confidential due to proprietary modelling software, but Greenbriar has highlighted its conclusions on the California-based property as follows:

Development scenarioConstruction in six phases over approximately six years at 165 units per year.
Projected revenue995 units totalling 1,600,763 square feet saleable.
Target average sales rate of US$272 per square foot.
US$408,761,162 projected net residential revenue after 6-per-cent sales agent fees.
Projected profitUS$173,940,459 projected net profit with a 66.7-per-cent profit on cost and a project IRR of 61.8 per cent.
US$123,719,669 net present value based on a discount rate of 6 per cent.

The company will offer a private placement of 2,000,000 units at C$1.25 per unit for proceeds of C$2.5M.

Each unit is comprised of one common share plus one common share purchase warrant.

Each warrant is exercisable into one common share priced at C$1.35 for up to three years from unit issuance.

It will allocate the proceeds toward general working capital.

Greenbriar Capital develops renewable energy and sustainable real estate projects.

Greenbriar (GRB) closed up by 4.27 per cent trading at $1.22 per share.

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