Greenbriar Announces Voya Financial Extension of USD $195 Million Project Finance Mandate for Montalva

Coquitlam, British Columbia--(Newsfile Corp. - February 16, 2021) - Greenbriar Capital Corp. (TSXV: GRB) ("Greenbriar") is pleased to announce it has executed a one year extension of the USD $195 Million Montalva project financing mandate with Voya Investment Management, LLC ("Voya") for the Company's 160 MW DC/80 MW AC Montalva Solar Project ("Montalva Project"). This project financing takes place at the project level and does not involve the sale or dilution of the Company's shares. The purpose of this Mandate is to structure, arrange, and provide key capital requirements for the Montalva Solar Project.

About Voya Investment Management

Voya Investment Management, LLC is the asset management business of Voya Financial Inc., a Fortune 500 company that serves the financial needs of approximately 13.8 million individual and institutional customers in the United States. Voya reported $700 billion in total assets under management and administration as of December 31, 2020. Of that total, Voya Investment Management has approximately $146 billion in fixed income securities including investment grade, senior loans, and other private credit instruments, including investments in a various US infrastructure projects. With more than 40 years of history in asset management, Voya Investment Management provides clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions.

When completed, the Montalva Solar Project will be the Caribbean's largest renewable energy facility, supplying enough power to energize over 48,000 homes. The benefits of the project will provide 900 construction jobs and over $200 Million to the Puerto Rican economy plus a savings of over $1 Billion in reduced energy costs over the life of the contract. The experienced Greenbriar management team and advisors have financed and closed over 50,000 MW of renewable energy projects over the past 18 years.

About Greenbriar Capital Corp:

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

ON BEHALF OF THE BOARD OF DIRECTORS

"Jeff Ciachurski"

Jeffrey J. Ciachurski
Chief Executive Officer and Director
Phone: 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. This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

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