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GSW.v New name for your consideration. Lithium Ion Batteries require Cobalt and pure play cobalt names are few and far between, this co GSW (Green Swan Capital) realizes this lack of pure plays in the cobalt space and is making a play at establishing themselves as a cobalt name. It's an early stage opportunity and I urge everyone to do your own due diligence...
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Green Swan closes acquisition of Copper Prince property



2016-06-14 09:06 ET - News Release


Mr. Peter Clausi reports

GREEN SWAN CAPITAL CORP. CLOSES ON SUDBURY BASIN COBALT ASSET AND ANNOUNCES FINANCINGS

Green Swan Capital Corp. has closed the previously announced 100-per-cent acquisition of the Copper Prince property in Falconbridge township in the Sudbury mining division, Ontario.

Green Swan intends to focus its exploration efforts on the historic cobalt indicators.

Copper Prince is a block of 16 contiguous patented mining claims (260 hectares) in the Sudbury basin, an area renowned for its world-class polymetallic sulphide ore deposits. They lie within the Huronian gold belt, a prolific zone of past gold producers that extends a distance of roughly 120 kilometres. Mining infrastructure, labour and knowledge are easily accessible in this mining-friendly jurisdiction.

Exploration work on Copper Prince has been carried out by various parties since the late 1880s. Some historic data cannot be found. Green Swan has found two prior National Instrument 43-101 reports on Copper Prince prepared for third parties and filed at SEDAR, which reports summarize the historic work carried out and some of the recent results obtained. These results have not been verified by Green Swan's qualified person.

A notable cobaltite-in-quartz zone is described in the September, 2008, technical report as being found in the southeast claims comprising a 30-to-40-centimetre-wide quartz vein on the contact of the Nipissing diabase with coarse-grained cobaltite.

One historic sample from Copper Prince, No. A195883, assay by Bell White Laboratories in Haileybury, Ont. (October, 1991), returned 3.26 per cent cobalt, with 14 grams per tonne gold. A second sample, No. A195885, assayed 2.62 per cent cobalt and 0.88 per cent nickel. Both samples had traces of copper, silver and platinum group elements. Only the assay results were verified to the original Bell-White certificate, but not the sampling method, location, delivery nor procedures of the person who collected these samples.

Green Swan is awaiting assay results from samples taken during its late May, 2016, technical due diligence review. These results will be disclosed as soon as possible. Apart from those samples and a review of the historic record, Green Swan has done no work on Copper Prince.

"Our team has been actively searching for a Canadian cobalt property for almost a year, as we believe there will soon be a global cobalt shortage," said Peter M. Clausi, Green Swan's chief executive officer. "Cobalt is needed to create lithium-ion batteries for hand-held devices, power tools, laptops and electric vehicles. It is estimated that each Model 3 to be sold by Tesla Motors will consume 15 kilograms of cobalt. Tesla intends to sell 500,000 Model 3s by 2018, which results in 7.5 million kg of additional cobalt demand driven only by the Model 3. Combining overall growth in the battery market with falling cobalt production out of the Democratic Republic of [the] Congo should lead to a significant supply gap."

To finance the first round of exploration on Copper Prince, Green Swan announces its intention to effect a flow-through financing in an amount up to $100,000 by offering up to 1,052,632 flow-through units priced at 9.5 cents per unit. Each flow-through unit will comprise one flow-through share and one full 12-cent warrant with a 12-month term. Green Swan also announces its intention to carry out a hard-dollar financing in an amount up to $100,000 by offering up to 1.25 million common units priced at eight cents per common unit. Each common unit will comprise one common share and one full 12-cent warrant with a 12-month term. Both financings are subject to regulatory approval.

Green Swan also announces it has closed on the previously announced $50,000 equity financing and $30,000 loan (see the May 24, 2016, press release for details), and that the debenture financing announced April 25, 2016, will not proceed.

Green Swan also announces it will no longer pursue the marijuana or the real estate industry. Despite over two years of searching and the due-diligence review of hundreds of opportunities in these areas, Green Swan could find no viable opportunity that justified risking the shareholder equity. With respect to the marijuana industry, the legislative risk was too great to overcome.

Risk associated with the Copper Prince acquisition include those common to mining exploration in Ontario, in addition to commodity pricing, management and board quality, execution, and the ability to raise such capital as may be needed to finance the business plan.

Green Swan's website is under construction and will soon be relaunched to include the historic National Instrument 43-101 documents referred to above, and data related to the pending global cobalt shortage.

Scot Halladay, PGeo, is the qualified person for this release and has approved its contents.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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