Boise, Idaho, July 11, 2019 - (ACN Newswire) - Greenbriar Capital Corp. ("Greenbriar") The Company is pleased to announce that Greenbriar Capital Corp. (the "Company") has sold its industry leading blockchain software to Titleloq, LLC. Titleloq, LLC is a new entity created specifically to own and operate the blockchain software and is majority owned by Tommy Sullivan of Arizona.
The consideration is $1,745,422 CDN in cash, shares, plus USD $3 per every opening transaction as a net royalty. The share consideration comprises the return and cancellation to the treasury of a total of 786,772 previously issued Greenbriar common shares, the cancellation of 475,000 previously issued Greenbriar stock options and the cancellation of 276,812.5 previously issued Greenbriar share purchase warrants with the remainder paid to Greenbriar immediately in cash. The USD $3 cash per every single opening transaction royalty will be paid in quarterly installments and could convert to 10% of the net proceeds if the software and any modification and or improvement thereof is sold to a fully arms length party. As per the investor conference call of December 2018, if the software app reaches its first goal of 60,000 transactions per month, the net royalty payable to Greenbriar will be USD $180,000 per month. Meanwhile, our shares outstanding will now reduce to 19.5 million.
Greenbriar is consistently delivering to shareholders on being a robust incubator and creator of new stand alone projects and technologies. In October of 2018, Greenbriar received 10.7 Million common shares of Captiva Verde Land Corp, which the company expects to be constantly increasing in value. The company has begun the creation of a spin off public company, to dividend to each shareholder, an equal amount of new shares for the Montalva Solar Project. Today, the Company sold its Blockchain software and receives a robust royalty stream in perpetuity or a percentage of sale proceeds to a large independent enterprise. The Management and Board of Greenbriar are solely committed to the value creation for shareholders.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46199
July 11, 2019 07:00 HKT/SGT
Topic: Merger & Acquisition
Sectors: Alt. Energy, Alternatives, FinTech/Chains
From the Asia Corporate News Network
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