Global Green Completes First Tranche of Private Placement


Follow this company

Companies Mentioned

TSX.V:GGX
01/25/2013 [ACCESSWIRE]

OTCBB: GGXCF

Berlin: AOLGDN

TSX.V: GGX

Frankfurt: POZ

Global Green Matrix Corporation ("Global Green" or the "Company") - TSX Venture: GGX - has received TSX-Venture approval in connection with the First tranche of its previously announced non-brokered private placement consisting of up to 10,000,000 units (the "units") at a price of $0.05 per unit for gross proceeds of up to $500,000. Each unit is comprised of one common share of the Issuer (a "Share") and one share purchase warrant (a "Warrant").

The Company has sold 1,900,000 units for total gross proceeds of $95,000 pursuant to the first tranche.

The securities issued pursuant to the first tranche are subject to a four month hold period from the date of closing and the warrants are exercisable to acquire an additional common share at a price of $0.15 until January 25, 2015.

The warrants are subject to an accelerated expiry stating that if at any time, after the standard 4 month hold period, the closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.25 for any 10 consecutive trading days, the warrant holder will be given notice that the warrants will expire 31 days following the date of such notice.

The Company will pay a finder's fee of $5,000 cash and 100,000 finder's warrants holding the same terms as stated above in connection with the first tranche.

About Global Green Matrix Corp. (www.globalgreenmatrix.com)

Global Green Matrix Corp. provides environmentally sound solutions for oilfield waste disposal and is primarily involved in the recovery of reusable products from waste. With the acquisition of Intercept Rentals, and a newly developed, safer, faster and cost effective frac water heating technology, GGX will continue to focus its efforts on marketing its eco-friendly products to the resource sector in Canada and the USA.

For further information visit our website at www.globalgreenmatrix.com, email at info@globalgreenmatrix.com or contact:

Randy Hayward, President

Global Green Matrix Corp.

Phone: 250-247-8689 or 604-687-8855

Fax: 604-628-5001

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

COMMENTS

Leave a comment...
 * 

Your Name
 *