Greenbriar targets full listing on Nasdaq Global Market

Canada’s Greenbriar Capital Corp (CVE:GRB), which is developing a major solar project in Puerto Rico, plans to obtain a full listing on the Nasdaq Global Market Select, it announced today.

The company said in a statement that a minimum share price of USD 4.00 (EUR 3.6) and at least USD 4 million in net current assets are among the requirements for the sought uplift. It added it is currently carrying out internal non-deal roadshows via conference calls with its 53,000 investors and followers.

Greenbriar is the developer of the 160-MW-DC/80-MW-AC Montalva solar project in Puerto Rico that will be coupled with a “sizeable” electro-chemical storage facility. The company said that on Thursday the governing board of the Puerto Rico Electric Power Authority (PREPA) has approved the project and sent the agreed contract for clearance by the US Federal Oversight Management Board (US FOMB), which recommended Montalva to be deemed a critical project in 2018.

The developer said it is very confident that the plant can be expanded to 320 MW DC/160 MW AC “in the very near future”.

China Machinery Engineering Corporation (CMEC), a Beijing-based power projects specialist, has been hired as the engineering, procurement and construction (EPC) contractor to realise the project.

(USD 1.0 = EUR 0.899)

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