(Vancouver, BC, June 12, 2015) GreenAngel Energy Corp. (TSX-V:GAE) announces a Private Placement of $215,000 of Units to be comprised of common shares at $.05 per common share and one share purchase warrant. Each warrant gives the holder the right to subscribe for one common share at $0.06 for two years from the date of closing.
The proceeds of the Private Placement will be used for general working capital purposes.
The Private Placement will be taken up by Company insiders and will close concurrently with the completion of the first tranche of the Convertible Debenture offering, which is expected to close before June 30, 2015. This Convertible Debenture offering was previously announced by the Company on April 13, 2015.
The proceeds of the Convertible Debenture issuance will be used solely to fund its Revenue Based Financing products. The Company is in negotiations with a number of clients to which the Company will provide Revenue Based financing and expects to enter into the first of these agreements in the near term.
About GreenAngel Energy
GreenAngel Energy Corp. is a Revenue Based Financing company that purchases future revenue streams from technology and industrial companies in western Canada. This new financing option complements both debt and equity financing while allowing entrepreneurs to retain control of their own business. In addition, GreenAngel continues to manage existing investments in the clean energy sector, as well as providing strategic and business advisory services to ensure these companies achieve success.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s issuance of Units and Debentures, payment of interest thereon, acceptance of the offering by the TSX Venture Exchange and the Company’s use of the proceeds of the offering, including investment in RBF instruments. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.