GreenBank Completes Acquisition of 10% of the Lonsdale Group



Toronto, Ontario, May 3, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) (“GreenBank or the Company”) announces that it has completed the acquisition of 10% of The Lonsdale Group, LLC (“Lonsdale Group”), a Dallas, Texas, USA based private equity company focused on small cap investments. GreenBank paid US$300,000 for a 10% interest in Lonsdale Group, payable by the issuance by GreenBank of 400,000 CAD$1 Non-Voting 5% Preference Shares.

Lonsdale Group has minority investments in a number of diversified private companies comprising oil and gas crowdfunding, data protection, emergency response technology, insurance products, telecommunication testing equipment, technology marketing platforms, and medical alert technology. Lonsdale Group was founded in 2008 by David Lonsdale, the former President of Allegiance Capital Corporation, a private investment bank focusing on mergers and acquisitions. In addition to equity financing, Lonsdale Group plays an active advisory role in helping its portfolio companies grow.

David Lonsdale is also an independent director of GreenBank. The participation by David Lonsdale in this transaction is considered to be a related party transaction as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). A special committee established by the board of directors and consisting of an independent director determined that the related party transaction is fair and reasonable in the circumstances to the Company. The Company has relied on sections 5.5(b) of MI 61-101 for an exemption from the formal valuation requirement, and section 5.7(a) of MI 61-101 for an exemption from the minority shareholder approval requirements. A material change report in respect of the related party transaction was filed at least 21 days in advance of the closing of the Agreement.

About GreenBank

GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and OTCMKTS:GRNBF). Its 80% subsidiary GreenCoinX Limited, a UK company, has developed the world’s first cryptocurrency and blockchain requiring user identification. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank is in the process of completing the acquisition of 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments.

For more information please see www.GreenBankCapitalinc.com or www.GreenCoinX.com or contact Danny Wettreich at (647) 931 9768 or by email dw@GreenBankCapitalinc.com .

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., raising additional capital and the future development of of GreenCoinX. 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 the company 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 the company 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.

The CSE has not reviewed, approved or disapproved the content of this press release