VANCOUVER, March 4, 2013 /PRNewswire/ – (Toronto Venture Exchange symbol “GRB”) Greenbriar Capital Corp. (the “Company” or “Greenbriar”) is pleased to announce that it has entered into negotiations for a 100-MW solar power purchase agreement in the Commonwealth of Puerto Rico.
Greenbriar also wishes to announce that it has entered into escrow to sell its 650-lot subdivision in the State of California. Upon close of the transaction and receipt of proceeds, scheduled for 90 days, Greenbriar will have enough funds to finance its ongoing initiatives to acquire solar properties in Puerto Rico, without having to issue shares.
Jeff Ciachurski, CEO of Greenbriar states “we are very pleased to be acquiring projects in Puerto Rico where the production of renewable energy greatly reduces the island’s dependency on foreign oil. Currently, 74% of the electricity generated in Puerto Rico comes from the use of crude oil. This is a win-win situation for both Greenbriar and the citizens of Puerto Rico.”
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski President, Chief Executive Officer and Director