Puerto Rico Elects New Governor

Rhea-AI Summary

Greenbriar Sustainable Living announced that Jenniffer Gonzalez Colón has won Puerto Rico's gubernatorial election, defeating her closest opponent by nearly 10% with 90% of votes counted. Gonzalez Colón, who previously served as US Federal Resident Commissioner in Congress, ran on a platform focusing on energy resilience and power grid reconstruction. Luis Baco, Greenbriar's Chief Counsel and future President in Puerto Rico, was Gonzalez Colón's former Chief of Staff. The PR notes that US Solar and Wind tax credits maintain full value (30-50%) until 2032, reducing to 26% through 2035.

Positive

• Governor-elect's platform prioritizes energy resilience and power grid reconstruction, potentially benefiting Greenbriar's operations
• Company's Chief Counsel has direct connection to new Governor as former Chief of Staff
• Favorable renewable energy tax credits (30-50%) confirmed until 2032

Negative

• None.

Scottsdale, Arizona--(Newsfile Corp. - November 6, 2024) - Greenbriar Sustainable Living Inc. (TSXV: GRB) (OTC Pink: GEBRF) ("Greenbriar" or the "Company") is pleased to announce that Puerto Rico's current US Federal Resident Commissioner in Congress, Jenniffer Gonzalez Colón, has won yesterday's election to become the next Governor of Puerto Rico. Luis Baco, JD, LLM, Chief Counsel for Greenbriar in Puerto Rico and the future President of Greenbriar in Puerto Rico states:

"With almost 90% of the vote counted, she defeated her closest opponent by nearly 10% of the votes cast. Gonzalez Colón ran on a platform that prioritized energy resilience and the reconstruction of Puerto Rico's obsolete power grid. Luis Baco, who is chief counsel to Greenbriar, is a longtime friend of the new Governor and served as Gonzalez Colon's Chief of Staff during her first term as the Federal Resident Commissioner." (The elected federal member in Puerto Rico for US House of Representatives.)

US Solar and Wind tax credits run for their full value until 2032 (at between 30 to 50% depending on location and content) and reduce to 26% up to 2035. Tax credits for renewable energy have existed since 1997 and have repeatedly received over 80 to 90% bipartisan support from both parties.

Ms. Gonzalez is a life-long Republican with support of the new President-Elect. Ms. Gonzalez and the new President-Elect have full voting determination on selecting and/or replacing members of the FOMB.

About Greenbriar Sustainable Living:

Greenbriar is a developer of sustainable real estate and renewable energy. With long-term, high impact projects and led by a successful industry-recognized operating and development team, Greenbriar targets deep valued sustainable assets directed at accretive shareholder value.

ON BEHALF OF THE BOARD OF DIRECTORS

"Jeffrey Ciachurski"

Jeffrey J. Ciachurski
Chief Executive Officer and Director
Ph.: +1 (949) 903-5906

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Market conditions could alter the projects of Greenbriar and such potential events like bad credit markets, worldwide economic depression, unforeseen regulatory hurdles or acts of God, could inhibit or prevent some or all of the Greenbriar projects from materializing or completing.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities laws and United States securities laws (together, "forward-looking statements"). All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to this release. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget", "propose" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A (a copy of which is available under the Company's SEDAR profile at www.sedarplus.ca). The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229052

FAQ

Who won the 2024 Puerto Rico gubernatorial election affecting Greenbriar (GEBRF)?

Jenniffer Gonzalez Colón won the 2024 Puerto Rico gubernatorial election, defeating her closest opponent by nearly 10% with 90% of votes counted.

What are the US Solar and Wind tax credits affecting Greenbriar (GEBRF) through 2032?

The tax credits maintain full value between 30-50% (depending on location and content) until 2032, then reduce to 26% through 2035.

What is the connection between Greenbriar (GEBRF) and the new Puerto Rico Governor?

Greenbriar's Chief Counsel and future Puerto Rico President, Luis Baco, served as Chief of Staff during Gonzalez Colón's first term as Federal Resident Commissioner.