Greenbriar Sustainable Living Inc. has announced a non-brokered private placement of 2.2 million units at a price of CAD $0.45 per unit, totaling approximately CAD $990,000. This funding will primarily be used for engineering costs related to the Sage Ranch project, which includes filing final construction permits for grading, sewer, drainage, water, curb, gutter, internal roads, and dry utilities.
The announcement, made on October 6, 2026, is significant for Greenbriar as it reflects the company's ongoing commitment to advancing its sustainable real estate projects. The private placement is subject to approval from the TSX Venture Exchange and the Board of Directors. Notably, the company's CEO, Jeff Ciachurski, will personally invest in one million units, while the President will acquire 200,000 units.
In addition to the private placement, Greenbriar has received approval for up to CAD $8 million in convertible preferred shares at CAD $1.00 per share. The company has identified between CAD $6.5 million to CAD $8 million in debt holders willing to convert their holdings, which will help transition significant liabilities into equity. This strategy aims to enhance the company's financial stability and clean up its balance sheet.
Greenbriar Sustainable Living Inc. operates in the real estate sector, focusing on sustainable development and renewable energy initiatives. The company has positioned itself as a leader in sustainable real estate, targeting high-impact projects that create long-term shareholder value.
As the company moves forward, it may seek to list the preferred shares, which will not carry special voting rights but will allow the Board to issue dividends at its discretion, capped at a maximum of 8% per year.
Details were not available in the SEC filing regarding any further actions or timelines following this announcement.