BURLINGTON, ONTARIO — (Marketwire) — 03/02/12 — Green Swan Capital Corp. (“Green Swan”) (TSX VENTURE: GSW) is pleased to announce it has received regulatory approval for and closed on its previously announced acquisition of a package of six non-contiguous mining tenures in southeastern British Columbia. These tenures (Mikayla, Tat, Chess, Punch Bowl, Champion and McRae) aggregate 1722 hectares.
Please see Green Swan-s press release of February 29, 2012 for a more detailed description of these properties and their locations in southeastern British Columbia. To more particularly locate Tat and Chess, please note that those two properties are roughly 200 kilometres from the Kitsault Molybdenum Project held by Avanti Mining Inc., which was in production until 1982 and which Avanti is evaluating to re-open.
The Agreement
Consideration for this acquisition was the issuance of 300,000 shares (at an deemed price of $0.20 per share), and $18,588 cash. Green Swan now owns a 100% interest (subject to a Net Smelter Royalty) in these tenures. The Net Smelter Royalty is equal to two point five per cent, half of which may be purchased at Green Swan-s option at any time for $1,000,000, and which is subject to adjustment in the event of certain corporate activities.
About Green Swan Capital Corp.
Green Swan is engaged in the exploration and, if warranted, development and mining of its properties as well as the acquisition, exploration and potential development of other mineral resource properties. Green Swan communicates with its shareholders and the investing public directly and with the assistance of CHF Investor Relations. The common shares of Green Swan are listed on the TSX Venture Exchange under the trading symbol “GSW”. Green Swan has 17,091,417 shares outstanding.
To receive Green Swan news by email contact with “Green Swan News” in the subject line.
Forward-Looking Statements
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan-s recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.
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 release.
Contacts:
Green Swan Capital Corp.
Peter M. Clausi
855 Brant St
Burlington, ON
L7R 2J6
CHF Investor Relations
Cathy Hume
90 Adelaide St W, Ste 600
Toronto, ON
M5H 3V9
CHF Investor Relations
Stephanie Fitzgerald
90 Adelaide St W, Ste 600
Toronto, ON
M5H 3V9