|By Marketwired .||
|August 29, 2014 04:23 PM EDT||
BURLINGTON, ONTARIO -- (Marketwired) -- 08/29/14 -- Green Swan Capital Corp. (TSX VENTURE: GSW) ("Green Swan") announces an update to its growth and diversification plan previously announced on April 8, 2014. The Ontario Securities Commission (OSC) has requested that Green Swan clarify its activities with respect to its survey of opportunities in the medical marijuana sector. The April 8, 2014 news release contained certain disclosure deficiencies with respect to the risks and uncertainties associated with Green Swan's then proposed plan to invest in medical marijuana opportunities in Canada. Notwithstanding these deficiencies, Green Swan's initial search pursuant to the board's direction has enabled it to eliminate the prospect of any involvement (either by investment or otherwise) in the Canadian medical marijuana sector, including without limitation any investment in a Marijuana for Medical Purpose Regulations licensee/applicant. As a result, Green Swan does not plan to activate the separate corporate division focused on marijuana growers as mentioned in Green Swan's management information circular dated May 5, 2014.
Green Swan is continuing to search for and identify hemp and non-Canadian cannabis opportunities, as directed by the Green Swan board and as previously announced. At this time, Green Swan prefers to focus on the services, facilities and structural elements that provide a framework supporting the hemp and/or cannabis producers, and not on any primary producer. A diversification such as this incurs many varieties of risk, which Green Swan intends to mitigate by carrying out thorough due diligence review on all viable opportunities. These risks include but are not limited to legislative changes, pricing, enforcement, currency exchange, execution and the global economy. Other material risks, unknown to Green Swan at this time, may emerge during the ongoing search and due diligence process and, if so, Green Swan will disclose such risks in due course. Green Swan cautions investors that it is still in the early stage of exploration of potential opportunities and there can be no assurance that any such project will be identified or completed. As yet, no estimate of time and cost to finalize any prospective diversification has been developed as Green Swan is at too early a stage in its due diligence process to be able to develop this information. Green Swan's board, and possibly Green Swan shareholders, will have to approve any proposed diversification project and there is no assurance that such approval will be received. Green Swan will provide further updates on its growth and diversification plan as material opportunities arise.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a diversified Canadian company. With 25,515,417 shares outstanding, an aggressive growth strategy and a proven leadership team, Green Swan is well-poised to deliver real value to its shareholders.
On Behalf of the Board of Directors
GREEN SWAN CAPITAL CORP.
Peter M. Clausi, President, CEO and Director
Neither 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 release.
Green Swan Capital Corp.
Peter M. Clausi
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