VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/29/12 -- Greenscape Capital Group Inc. ('Greenscape') (TSX VENTURE: GRN) is pleased to announce that, via its subsidiary Greenswitch America, Inc., it has engaged Capital West Partners ('Capital West') to be its exclusive financial advisor with respect to exploring options for maximizing shareholder return on its ownership interest in Green Park Denver, LLC, the owner of the 4,200 stall Canopy Airport Parking ('Canopy') near Denver International Airport.
The facility was completed in November, 2010 and became fully operational by January, 2011. During its first year Canopy's revenues and occupancy rates came in 11.44% and 4.46% over budget, respectively, and is continuing on an excellent growth trend. Based on this performance, Greenscape's management team is of the opinion that the value of the facility now exceeds the original value that was targeted upon market stabilization. As a result, Greenscape has retained Capital West to explore options to maximize an early return on investment from the facility. Capital West has commenced this process and will be reporting to the company its initial results over approximately the next 60 days.
Established in 1990, Capital West is an independent corporate finance advisory firm based in Vancouver, British Columbia. Capital West provides specialized financial advice and expertise to publicly and privately owned corporations in North America on mergers, acquisitions, divestitures and other strategic transactions. Capital West's team of professionals has extensive experience in executing transactions for North American infrastructure assets. Capital West is a member of IMAP, an integrated global organization of independent corporate finance advisory firms comprising 39 firms in 30 countries.
Greenscape is also pleased to announce two additions to its Board of Directors, Bradley N. Scharfe and Robert Geisthardt.
Mr. Scharfe has been focused on venture capital situations throughout his career and has successfully worked with multiple companies in the areas of capital requirements, public market concerns and personnel. Mr. Scharfe was previously a venture capital stock broker with Canaccord Capital Corporation for 12 years, earning Chairman's Club status during this time and holds a BA from the University of Toronto, with a major in Commerce and Economics. Mr. Scharfe is a founder and partner of Skanderbeg Capital Partners Inc.
Mr. Geisthardt is a Chartered Accountant who is an incorporated partner of Quantum Advisory Partners LLP, a professional services firm that provides accounting, tax, internal audit and consulting services to private and public companies in Canada and the United States. Prior to his involvement with Quantum Advisory Partners LLP, he was employed by Ernst & Young LLP.
Mr. Scharfe and Mr. Geisthardt join Greenscape's existing Board members Mark Devereux, Bryan Slusarchuk, Yale Loh, Michael Hofer and Christopher Bennett.
Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When 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. www.greenscapecapital.com
ON BEHALF OF THE BOARD
Mark Devereux, CEO and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.