September 5, 2013 - Global Green Matrix Corporation (the "Company") - TSX Venture: GGX announces that it has entered into an Engagement Agreement with BayFront Capital Partners Ltd. ("Bayfront") whereby Bayfront will act as agents for and on behalf of the Company, on a best efforts agency basis without underwriter liability, in connection with a proposed private placement offering (the "offering"). The proposed financing is exclusive to North America of up to $5 million principal amount of a 12% secured convertible debenture (the "Debentures") of the Company maturing in three (3) years from the closing date of the offering (the "Maturity Date").
Royalty:Until the Maturity Date, each holder of the Debentures will also be entitled to a pro rata share of a 3% gross overriding royalty over the aggregate revenues generated by the Company from its active and revenue generating truck fleet multiplied by: (x) the total number of trucks built by the Company using the proceeds raised under this offering divided by (y) total number of active and revenue generating trucks constituting the Company's truck fleet.
Conversion:Principal is convertible at the option of the holder at any time before maturity into common shares in the capital of the Company at a conversion price of $0.20 per common share.
Prepayment:Commencing 18 months following the Closing Date, the Company shall have the option to pre-pay in cash 50% of the principal amount of Debentures outstanding without penalty.
In connection with this offering, the agent will be compensated by payment of a cash commission and issuance of agent's warrants. The agent's warrants will be exercisable for common shares at a price of $0.20 per share for a period of two years from the Closing Date.
These debentures will be marketed to qualified investors in Ontario, British Columbia and such other offering jurisdiction that are mutually agreed upon by Bayfront and the Company in reliance on applicable exceptions and registration requirements.
Proceeds from the placement will be used to fund the Company's expenditure on purchasing new frac water heating units used in the work performed by its subsidiary Intercept Rentals, the balance to be used for general working capital.
ABOUT GLOBAL GREEN MATRIX CORP.
Global Green Matrix Corp. is an Oilfield Services Firm primarily focused on servicing oil and gas companies and their fracking operations. Through its wholly owned subsidiary, Intercept Rentals, the Company currently owns and operates one truck and one trailer mounted water heating unit, called "Big Heat." Global Green rents these units to various oil and gas companies that require heated water for their fracking operations. The Company's heating units have the ability to heat water on a continuous flow basis.
ABOUT INTERCEPT RENTALS
Intercept Rentals is a registered trade name of 1503866 Alberta Ltd., a wholly owned subsidiary of Global Green Matrix Corp. The subsidiary company has obtained the exclusive rights for Canada to own and operate a new patent pending technology that provides a highly efficient and safe method of heating water used by oil companies in their fracking operations. Intercept is also able to operate in the USA by agreement with the developers of the technology.
ABOUT BAYFRONT CAPITAL PARTNERS LTD.
BayFront Capital Partners Ltd. (BayFront) is a specialty investment banking boutique with a specific focus on advising and raising capital for private and small cap companies. The Firm's particular area of emphasis is metals and mining, energy, agriculture, technology and biotechnology sectors.
For further information regarding this press release please contact Michael Berry - Bayfront Capital Partners - T: 416-775-8772 or email email@example.com.
Global Green Matrix Corp.
Randy Hayward, President
Phone: 250-247-8689 or 604-687-8855
Investor Relations and Communications
Toll free 1 866 631 6537
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.
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