Greenbriar sells blockchain software to Titleloq
2019-07-10 17:38 ET - News Release
Mr. Jeff Ciachurski reports
GREENBRIAR CAPITAL CORP SELLS ITS BLOCKCHAIN SOFTWARE REALBLOCK
Greenbriar Capital Corp. has sold its industry-leading blockchain software to Titleloq LLC. Titleloq is a new entity created specifically to own and operate the blockchain software, and is majority owned by Tommy Sullivan of Arizona.
The consideration is $1,745,422 in cash, shares and $3 (U.S.) per every opening transaction as a net royalty. The share consideration comprises the return and cancellation to the treasury of a total of 786,772 previously issued Greenbriar common shares, the cancellation of 475,000 previously issued Greenbriar stock options and the cancellation of 276,812.5 previously issued Greenbriar share purchase warrants with the rest paid to Greenbriar immediately in cash. The $3 (U.S.) cash per every single opening transaction royalty will be paid in quarterly instalments and could convert to 10 per cent of the net proceeds if the software and any modification and or improvement thereof are sold to a fully arm's-length party. As per the investor conference call of December, 2018, if the software app reaches its first goal of 60,000 transactions per month, the net royalty payable to Greenbriar will be $180,000 (U.S.) per month. Meanwhile, the company's shares outstanding will now reduce to 19.5 million.
Greenbriar is consistently delivering to shareholders on being a robust incubator and creator of new stand-alone projects and technologies. In October of 2018, Greenbriar received 10.7 million common shares of Captiva Verde Land Corp., which the company expects to be constantly increasing in value. The company has begun the creation of a spinoff public company to dividend, to each shareholder, an equal amount of new shares for the Montalva solar project. Today, the company sold its blockchain software and receives a robust royalty stream in perpetuity or a percentage of sale proceeds to a large independent enterprise. The management and board of Greenbriar are solely committed to the value creation for shareholders.
About Greenbriar Capital Corp.
Greenbriar is a leading developer of sustainable real estate, real estate blockchain, artificial intelligence and renewable energy. With long-term, high-impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep-valued assets directed at accretive shareholder value.
We seek Safe Harbor.
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