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TORONTO, ON / ACCESSWIRE / November 10, 2020 / GreenBank Capital Inc. (CSE:GBC)(OTC PINK:GRNBF) and (FRA:2TL) ("GreenBank or the Company") is pleased to announce that on November 9, 2020 its 47.5% owned portfolio company GBC Grand Exploration completed the sale of its Twilite Gold Project ("Twilite") with TRU Precious Metals Corp. ("TRU").
As previously announced, GBC Grand had signed a letter of intent ("LOI") with TRU Precious Metals Corp. on October 13th, 2020 to transfer the mineral claims comprising its Twilite Gold project in Central Newfoundland, and a Definitive Agreement ("Definitive Agreement") was later signed on October 29, 2020. The consideration that GBC Grand received for the sale on November 9, 2020 substantially aligns to the terms of the LOI. This consideration is fully detailed in GreenBank's October 14, 2020 press release.
Separately, GreenBank announces that Investment Pitch Media has independently published a three minute video summarizing GreenBank Capital's non brokered $4.5 million private placement offering which was previously announced on November 3rd, 2020. The video outlines the terms of the private placement and discusses the portfolio of investments that GreenBank Capital has made to date, including GBC Grand Exploration's sale of Twilite to TRU. The video can be accessed organically via the following link:
Greenbank has embedded the Investment Pitch Video, as well as a provided a fully downloadable Investor Presentation onto its website at:
Mark Wettreich, Chairman of GreenBank commented "GreenBank is pleased that GBC Grand have completed their transaction for the sale of Twilite, which is of benefit to GreenBank and its shareholders. Going forward GreenBank plans to embrace opportunities to further prove our business model in coordination with our existing non-brokered private placement offering."
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL). GreenBank's 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank has a multi-sector, multi-stage investment thesis with a global remit. GreenBank's investment approach is to identify companies with the capacity for rapid growth with a strong management team, that can be scaled and prepared for a public listing over a period of 6-24 months. GreenBank's portfolio companies comprise equity investments in 11 small cap businesses, namely; 19% of Staminier Limited, a United Kingdom Merchant Banking firm; 59.5% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 52.5% of Blockchain Evolution Inc, owners of the world's first identification based blockchain, and developers of Xbook a user permissioned and revenue sharing social media platform; 22.3% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 47.5% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada; 19% of Inside Bay Street Corporation, a financial news communications company; 34.8% of Gander Exploration Inc, a minerals exploration company; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 25.2% of Buchans Wileys Exploration Inc, a minerals exploration company; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; and 8.3% of Minfocus Exploration Corp (MFX), a mineral exploration company.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., the raising of additional capital and the future development of the businesses comprising GreenBank's investment portfolio. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GreenBank can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and GreenBank disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GreenBank Capital Inc.
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