GSW

Green Swan Capital Corp. (TSX VENTURE:GSW) ("Green Swan") is pleased to announce
it has entered into a Letter of Intent ("LOI") with Interactive Capital Partners
Corporation (NEX:HFM.H) ("ICP"), a Capital Pool Company, whereby ICP will
purchase a 100% interest in the Mikayla Property from Green Swan. It is intended
that such arm's length purchase will constitute ICP's Qualifying Transaction.


Mikayla covers 1144 hectares. It is located in the Okanagan Valley in southeast
British Columbia, roughly 15 km south of Xstrata Canada's Brenda Mine, and close
to the Crowrea and Empress properties (Nevada Clean Magnesium Inc. / Goldrea
Resources Corp. joint venture). Green Swan recently conducted Phase 1 of its
exploration of Mikayla by conducting an airborne magnetic survey over
approximately 209 kilometres, flown at 100 metre line spacing. Green Swan has
been provided with the preliminary results from this airborne survey, with final
results expected in January, 2013. It is expected that Green Swan will complete
Phase 2 prior to the closing of ICP's Qualifying Transaction, with Phase 1 and
Phase 2 expenditures aggregating at least $110,000.


The LOI, to be replaced by a formal agreement of purchase and sale, provides
that ICP will purchase a 100% interest in Mikayla, subject to an existing Net
Smelter Return ("NSR"). The purchase price for Mikayla shall be four hundred and
eighteen thousand five hundred dollars ($418,500), to be paid by $50,000 in cash
and the remainder in ICP common shares issued at a deemed price of seven cents
per share. A finder's fee of 500,000 shares shall be paid on closing. Mr. Mark
Maheu, a current ICP director, will continue on ICP's board of directors, and
Green Swan will on closing have the right to initially appoint up to four
members of ICP's board who will appoint ICP's continuing management team. By the
closing, Green Swan will have to have completed Phase 1 and Phase 2 as described
above, and delivered a NI 43-101 compliant technical report (not a resource
estimate).


It is contemplated that ICP will carry out a coincident financing in the
approximate amount of approximately $550,000, by the issuance of common shares
priced at no less than the price at which the QT is being effected. Such
financing may include flowthrough shares. Use of proceeds will be for ICP's
working capital and to fund Phase 3 exploration on Mikayla.


Assuming the above transactions close, at the closing of the QT ICP will have
approximately nineteen million shares outstanding. All of the above transactions
are subject to due diligence review and regulatory approval.


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Green Swan Capital Corp.
Peter M. Clausi
CEO
1-416-890-1232
pclausi@greenswancapital.com

Green Swan Capital Corp. (TSXV:GSW)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Green Swan Capital Corp. (TSXV:GSW)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024