Greenbriar Capital Corp Announces Joint Venture
Boise, Idaho--(Newsfile Corp. - October 16, 2018) - Greenbriar Capital Corp. (TSXV: GRB) ("Greenbriar") announces that it has formed a joint venture with Captiva Verde Land Corp ("Captiva") to co-develop its 1,100 lot residential real estate project in California. Captiva is a newly listed Life Sciences company on the Canadian Securities Exchange with a mandate to invest in land assets that contain green residential communities, disruptive manufacturing facilities, organic food production and Cannabis operations. Captiva has just issued 10,687,500 of its common shares to Greenbriar and will incur all of the development costs to earn a 50% interest in and to the project.
The Project is in final stages of principal design and engineering and will submit completed plans to the governmental agencies very shortly. The construction cost of the homes will be borne through non-recourse project level financing that prevents dilution to both shareholders of Greenbriar and Captiva. The Project has a capital cost of US$350 Million and profits will be split 50/50 between both parties. The joint venture has several benefits to the Greenbriar shareholders:
i) It allows Greenbriar to focus on its RealBloq suite of products with title, banks and insurance companies across the US. It further allows the company to focus on receiving approval on its flagship $1.9 Billion solar contract and other projects Greenbriar has acted as the lead incubator.
ii) It removes Greenbriar from any further funding of the project.
iii) Captiva is focused on its CSE approved Life Sciences mandate which includes legal Cannabis. We understand Captiva is pursuing international opportunities in this field and the 10,687,500 shares of Captiva that are held by Greenbriar will generate a large value for Greenbriar shareholders' in due course. Management of Greenbriar will seek board approval to dividend the entire 10,687,500 shares of Captiva to the Greenbriar shareholders' of record, once Captiva closes any potential Cannabis deal and the shares of Captiva are over $1 per share for at least 30 days, allowing the Greenbriar shareholders' to make their own personal decisions on their disposition, if any.
Greenbriar will look to announce additional news on its core projects and where it has acted as the initial incubator and where value can be disbursed to the Greenbriar shareholders' of record.
About Greenbriar Capital Corp:
Greenbriar is a leading developer of sustainable real estate, real estate blockchain, artificial intelligence and renewable energy. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer and Director
The Toronto Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the Toronto Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Toronto Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.