Greenscape Closes Additional Financing

The Company has closed on $703,432.40 as the second tranche closing of the special warrant financing under the same terms as announced and described by the Company in its news release of September 9, 2010. The Company has issued 2,557,936 special warrants ("Special Warrant") at a price of $0.275 per Special Warrant. Each Special Warrant entitles the holder to receive, for no additional consideration, one unit ("Units"); each Unit consisting of one common share ("Common Share") of the Company and one-half of one common share purchase warrant ("Warrant"). Each full Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.35 per share for a period of 24 months following the closing date. In the event the closing price of the Company's common shares on the TSX Venture Exchange is at least $0.75 for ten consecutive trading days (at any time following the earlier of (i) four months from the date of closing, or (ii) the receipt for a final prospectus) the Company may reduce the remaining exercise period of the Warrants to not less than 30 days from the date of providing notice of the reduced exercise period.

Special Warrants automatically convert to Units upon the earlier of (i) four months following the date of issuance; and (ii) the date a final receipt is obtained for a prospectus qualifying the distribution of the Units.

The Company will use its commercially reasonable efforts to file a prospectus and qualify the distribution of the Units as expeditiously as possible following the final close of the financing. If a final receipt for a prospectus has not been received within 60 days following the final closing of the Financing, each Special Warrant will entitle the holder to receive 1.1 Units (comprising 1.1 Shares and 0.55 of a Warrant).

Finder's fees of $23,248.61, 79,200 Special Warrants and 137,330 finder's warrants will be paid on the second tranche of the financing.

In addition, the Company has agreed to settle an aggregate of $593,396 of outstanding debt in exchange for Units at $0.275 per Unit (each Unit having the same terms as outlined above for the Special Warrants).

The financing and debt settlement are subject to approval of the TSX Venture Exchange. 

About Greenscape

Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape Capital is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When marked opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals.