Vancouver, BC, December 3, 2012 — GreenAngel Energy Corp (“GreenAngel”) (TSX-V: GAE) is pleased to announce that it has completed its previously announced non-brokered private placement of 1,000,000 units for gross proceeds of $100,000. The private placement was fully subscribed for. As part of the offering, the directors of GreenAngel purchased 690,000 of the available units.
The unit offering was closed under the same terms as announced and described by the Company in its news release of November 26, 2012. Each unit is comprised of one common share in the capital of GreenAngel and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.10 during the first two years of the warrant term.
Proceeds from the private placement will be used for general working capital and to consider additional investments in emerging clean energy technologies.
The private placement is subject to final approval from the TSX Venture Exchange.
ON BEHALF OF THE BOARD
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Mazza Innovation, Light-Based Technologies, Habitat Carbon Assets, DPoint Technologies, and Paradigm Environmental Technologies.
For further information, contact:
Bruce Schmidt, CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the TSX Venture Exchange. 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.