Green Swan Acquires Ontario Mining Claims
BURLINGTON, ONTARIO--(Marketwire - Nov. 5, 2012) - Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW) today announced it has purchased, subject to regulatory approval, four mineral claims (the "Claims") in Hess Township in northern Ontario, known as the Geneva Lake Mining Property.
The Claims form part of the former Geneva Lake Mine.
Green Swan has purchased a 100% interest in the Claims in consideration of the issuance of 200,000 shares (at an agreed price of $0.10 per share), and 200,000 share purchase warrants with each share purchase warrant exercisable for one common share at an exercise price of $0.20 per common shares for a period of twenty-four months from the date of issue. The Claims are subject to a 2% NSR of which GSW can purchase one-half of the NSR for an amount of $1,000,000 at any time. GSW must incur a minimum of $150,000 of exploration expenditures within the first twelve months of the closing of the transaction.
Green Swan intends to, immediately upon closing, begin exploration on the Claims.
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. The common shares of Green Swan are listed on the TSX Venture Exchange under the trading symbol "GSW". Upon closing of the transactions contemplated above, GSW will have 19,697,417 shares outstanding.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Green Swan Capital Corp.
Peter M. Clausi