- Greenbriar Capital Corp (GRB) is purchasing 8 million units of Captiva Verde Land Corp.
- The deal brings Greenbriar’s ownership stake in Captiva Verde to 12.46 per cent
- The transaction is part of a fully-committed 10 million, non-brokered private placement
- Captiva Verde is issuing 10-million units at a price of C$0.27 per unit for gross proceeds of $2.7-million
- Greenbriar Capital is up 3.04 per cent, with shares trading at C$2.37 at 3:52 p.m. EST
Greenbriar Capital Corp (GRB) is purchasing 8 million units of Captiva Verde Land Corp.
The transaction is part of a fully-committed 10 million, non-brokered private placement.
Captiva Verde will issue 10 million units at a price of C$0.27 per unit for gross proceeds of $2.7 million.
Each unit entitles the holder to acquire one additional common share in the capital of Captiva Verde at a price of $0.75 per warrant until February 8, 2023.
Captiva Verde will use the proceeds from the sale for working capital purposes.
Greenbriar has advanced $1.8 million in cash to date through funds derived from the exercise of Greenbriar warrants.
Greenbriar originally owned about 12 per cent of the common shares of Captiva Verde when the Captiva Verde common shares first listed in 2018. Through subsequent share issuances by Captiva Verde, Greenbriar holdings were diluted down to 7.64 per cent.
By purchasing a further 8 million shares, Greenbriar will increase its holdings from its original 10,687,500 common shares to 18,687,500 common shares. That equates to 12.46 per cent ownership.
Greenbriar is a developer of sustainable real estate and renewable energy.
The company targets deep valued assets directed at accretive shareholder value.
Greenbriar Capital is up 3.04 per cent, with shares trading at C$2.37 at 3:52 p.m. EST.
