GREENBANK ACQUIRES 19% OF KABADDI GAMES
This news release is not for distribution or dissemination in the United States of America
Toronto, Ontario, January 24, 2018 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) ("GreenBank or the Company") announces that it has acquired 19% of Kabaddi Games Inc (“Kabaddi Games”), a Canadian company that owns all rights, title and interest to a mobile application game based on the Kabaddi sport. The sport of Kabaddi is the second most popular sport in India, after cricket, attracting 430 million television viewers during the 2014 inaugural televised season of the Pro Kabaddi League *.
The mobile app owned by Kabaddi Games is currently in early beta form, and will be completed over the next few months prior to a launch in the summer of 2018. GreenBank will provide corporate advice to Kabaddi Games and assist in its marketing and development program with the objective of seeking a public listing for Kabaddi Games in the future.
In addition to the original Netherlands based developer, Kabaddi Games investors that are investing alongside GreenBank include Daniel Wettreich the CEO of GreenBank, and other private investors. Kabaddi Games is the 11th company in the GreenBank small cap investment portfolio.
The sport of Kabaddi is a cross between freestyle wrestling and rugby that tests speed, agility and power. Two teams of seven players each take turns in sending an individual “raider” to tag an opponent. If the raider is wrestled down by a defender he is suspended temporarily until his team wins him back by tackling the opposition’s raider. The game is fast paced and the winner is declared in 40 minutes. Kabaddi is played in about 65 countries, however since 1990 India has won all the gold Kabaddi medals at the Asian Games and every edition of the Kabaddi World Cup.
* (Kabaddi review by The Economist, October 25, 2016 – “A home-grown Indian sport is winning fans far beyond the subcontinent”)
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 11 small cap businesses, namely; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 27% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 14% of Slabdeck Technology Inc, developers of a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication; 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain; 15% 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 Medi-Data 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; and 19% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi.
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.