GREENBANK SUBSIDIARY MEDIK BLOCKCHAIN IN DISCUSSIONS WITH INDIA HEALTHCARE SYSTEM
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Toronto, Ontario, May 15, 2018 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) ("GreenBank or the Company") announces that its 100% subsidiary Medik Blockchain Inc (“Medik”) has commenced discussions with the Government of India’s Ministry of Health and Family Welfare with regard to the utilization of Medik’s eKYC-ID blockchain based medical confidentiality system as a core part of India’s new healthcare program. Medik has proposed that patient data be uploaded to a custom designed identification based blockchain by patients using a mobile phone application. All elements of the Indian healthcare system can then access that patient data on a permissioned basis. Such a system would link together multiple healthcare participants using disparate software, while providing secure and permissioned patient data, and reduce costs substantially.
Medik is in further discussions to establish one or more pilot schemes with Indian state governments at a local level to demonstrate the viability of its healthcare blockchain technology.
Discussions continue, and although there is no guarantee that such discussions will lead to a successful utilization of Medik’s technology, GreenBank and Medik are of the opinion that its eKYC-ID blockchain is a viable solution for the Indian healthcare system.
Medik has licensed its blockchain technology from Blockchain Evolution Inc, a GreenBank portfolio company that owns the world’s first identification based blockchain. Medik has the exclusive worldwide license for the healthcare industry.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s portfolio companies comprise equity investments in 13 small cap businesses, namely; 52% 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; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 27% of Ubique Minerals Limited, a zinc explorationcompany in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 14% of Slabdeck Technology Inc, developers of a search mobile application; 12% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process; 19% of Inside Bay Street Corporation, a financial news communications company; 27% of Buchans Wileys Exploration Inc, a minerals exploration company with interests in Newfoundland, Canada; 100% of Medik Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community; 100% of North America Veterans Insurance Services Inc, an insurance agency holding company; 19% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 19.62% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company: and 19.9% of Gander Exploration, a minerals exploration company in Newfoundland, Canada.
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.
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