GreenBank Signs Letter of Intent to Acquire 14% of Slabdeck
Toronto, Ontario, July 27, 2017 – GreenBank Capital Inc (CSE:GBC and OTCMKTS:GRNBF) (“GreenBank or the Company”) announces that it has signed a Letter of Intent (“LOI”) to acquire 14% of Slabdeck Technology Inc (“Slabdeck”), a Canadian company that owns 100% of Slabdeck, a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication. Slabdeck resolves the challenge of having to use numerous apps to find items of interest.
The Slabdeck mobile application is currently in beta form, and version 1.0 is anticipated to be released in September 2017. The 1.0 version will enable users to receive customized information based on their preferences, which are displayed in content decks. With Slabdeck’s deck displays, users will discover personal things of interest, such as restaurants, entertainment, sports, travel, retail stores etc. Slabdeck version 1.0 offers the ability to locate nearby facilities, friends or people of interest. Group pods can be created for people with common interests, co-workers, friends, and family. The group pods facilitate free instant messaging, photo and video sharing, all in one place. Slabdeck 1.0 will also offer high quality internet-based free voice calls, live broadcasting, and text messaging. Further, PDF documents, spreadsheets, and slideshows, can be sent and received without the need for email or file sharing apps. Slabdeck version 1.0 has a built-in encryption layer and only the user and the recipient can read or listen to messages and calls. More information is available at www.slabdeck.com.
The LOI defines the essential terms under which the parties intend to enter into a definitive agreement (the “Share Acquisition Agreement”) for the acquisition by GreenBank of 14% of Slabdeck. A further 12.5% will also be acquired by GreenBank directors and private investors Daniel Wettreich and David Lonsdale. Closing of the Share Acquisition Agreement is anticipated to be on or about August 2, 2017, and will be subject to compliance with any required governmental and securities regulations. At closing, it is anticipated that Daniel Wettreich will be appointed Chairman and director of Slabdeck, and David Lonsdale will be appointed director of Slabdeck.
The CEO and Founder of Slabdeck is Benjamin Peter, who is Assistant Professor of Management at Oral Roberts University. Dr Peter is a serial entrepreneur and business expert, and received his Ph.D from University of Texas, his MBA from Mississippi State University, and his BSC from Oral Roberts University.
GreenBank intends to provide corporate advice to Slabdeck and assist in the acceleration of its marketing and development program with the objective of seeking a public listing for Slabdeck in the near future.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and OTCMKTS:GRNBF), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s investment portfolio includes 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 28% of Ubique Minerals Limited, a minerals exploration company with interests in Newfoundland, Canada; and 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency. Upon completion of the proposed distribution of its software division, GreenBank will also own 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and 15% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process.
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.
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