GreenAngel Energy Partners With Espresso Capital Partners to Offer 9% Notes
January 16 2014 - 8:00AM
Marketwired
GreenAngel Energy Partners With Espresso Capital Partners to Offer
9% Notes
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) -
GreenAngel Energy Corp ("GreenAngel") (TSX-VENTURE:GAE) is pleased
to announce that it has entered into an agreement with Espresso
Capital Partners ("ECP") whereby GreenAngel will issue
interest-bearing notes (the "Notes") to accredited investors for
purposes of participating in ECP's limited partnership funds. The
Notes will provide investors with up to 2.2% in quarterly interest
payments. The Notes are RRSP and TFSA eligible.
GreenAngel has been an investor in ECP for several years over
which time Espresso successfully completed more than 190
transactions representing $64,000,000 in value to Canadian
technology companies. Gary Yurkovich of ECP comments, "We have a
five year track record of delivering more than 14% consistently on
an annual basis for the funds that we managed. Our agreement with
GreenAngel will make it possible for investors to use their RRSP
accounts with a smaller commitment level."
ECP is in the business of making secured short term loans to
technology ventures to assist them with early stage development.
Many of the loans are secured by government account receivables
such as refundable tax credits.
As a public company, GreenAngel has the advantage of being able
to issue debt instruments to RRSP and TFSA account holders. The
Notes are denominated in $1,000 increments with a $25,000 minimum
subscription amount. GreenAngel will remit all gross proceeds that
it receives from ECP funds first to the noteholders, up to an IRR
of 9%, before charging any fees or participating in any
surplus.
Mike Volker, Chairman of GreenAngel, notes, "We are excited to
partner with ECP on this initiative. It provides GreenAngel with a
revenue stream as we partner with ECP in providing capital to the
technology sector".
ON BEHALF OF THE BOARD
Michael Volker, Chairman
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company
that invests solely in emerging private green technology companies.
We provide an avenue for public investors to gain access to a
portfolio of the most promising angel-stage investments across a
spectrum of green technology sectors. Our focus is commercializing
new technologies that produce renewable energy, improve energy
efficiency, or use renewable energy resources such as water, wind
and solar. We also work with companies that deploy or manage
technologies and processes that reduce greenhouse gas (GHG)
emissions. In addition to providing strategic capital to investor
companies, GreenAngel also provides mentorship and advice to help
these companies achieve commercial success. For more information,
please visit www.greenangelenergy.ca.
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 news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements that reflect the expectations of management regarding
the Company's listing of its common shares on the TSX Venture
Exchange. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them.
Investor & Media:GreenAngel Energy Corp.Mike
VolkerChairman+1.604.644.1926mike@greenangelenergy.ca
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