GreenLight Announces $250,000 Private Placement
GreenLight Resources Inc.
V.GR: TSX-V
GreenLight Announces $250,000 Private Placement
VANCOUVER, British Columbia – GREENLIGHT RESOURCES INC. (TSXV.GR, OTCBB: PRZCF, FRANKFURT: PH0), is pleased to announce that it has negotiated a non-brokered private placement of up to 2,000,000 units at a price of $0.125 per unit in the capital stock for total gross proceeds of up to $250,000. Each unit will consist of one flow-through share and one half of one non-flow through share purchase warrant. Each whole share purchase warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.15 per share for a period of 12 months from the closing date of the private placement subject to the following acceleration provision: if the closing trading price for the common shares of the Issuer as traded on the TSX Venture Exchange is equal to or greater than $0.20 per common share for 10 consecutive trading days (the “Threshold Period”), then the Subscriber shall have until 4:00 pm (Vancouver, BC Time) of the 30th calendar day after the Threshold Period to exercise the share purchase warrants (the "Accelerated Expiry Date"). The share purchase warrants shall expire on the earlier of the 2nd anniversary of the date of issuance of the Units or the Accelerated Expiry Date. The Issuer shall not be required to issue a news release announcing the occurrence of the Threshold Period or Accelerated Expiry Date. Closing of this placement is conditional upon approval of the TSX Venture Exchange. A finders' fee may be payable in cash, shares or share purchase warrants, or any combination thereof.
On Behalf of the board of directors
“ Chris Anderson”
Christopher R. Anderson,
CEO – President
For more information contact us at:
Office: 604-488-3900
E-mail: Info@GreenLightResources.ca
Follow us: Facebook: http://facebook.com/GreenLightResources | Twitter: @GreenLightRes | Myspace: http://myspace.com/518719311
Neither 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 release.
Forward-looking statements relating to future events or future performance and reflecting Green Light Resources management’s expectations or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Green Light Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Green Light Resources interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although Green Light Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
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