GREENBANK AGREES TO ACQUIRE 19.62% OF MINFOCUS
Toronto, Ontario, February 7, 2018 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) ("GreenBank or the Company") announces that it has agreed to acquire 19.62% of Minfocus Exploration Corp (TSXV: MFX) (“Minfocus”) in an off-market private transaction. GreenBank will issue 220,000 common shares of GreenBank at a price of $1.30 per share to Gerald Harper, a former director of Minfocus, to acquire 14,300,000 common shares of Minfocus at 2 cents per share. The GreenBank shares are subject to a four month and one day hold period pursuant to applicable securities laws.
As a significant shareholder of Minfocus, GreenBank will review and monitor its options and alternatives with respect to additional acquisitions of Minfocus common shares in light of all relevant factors from time to time, including general market conditions, prevailing market prices for the Minfocus common shares, the business and prospects of Minfocus and alternative investment opportunities available to GreenBank. GreenBank may explore opportunities to acquire additional Minfocus common shares in the open market, through negotiated or private transactions or otherwise, in each case on such terms and at such times as GreenBank may deem advisable and in accordance with all applicable securities laws. In the future, GreenBank may dispose of the Minfocus common shares at any time and from time to time in the open market, through negotiated or private transactions or otherwise, in each case on such terms and at such times as GreenBank may deem advisable.
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 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; 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.