GREENBANK EXPANDS BOARD AND MANAGEMENT TEAM AND PROVIDES BUSINESS UPDATES
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Toronto, Ontario, April 1, 2020 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces the additions of Terry Pullen as Director and Miles Nagamatsu as CFO. This is a part of a broader effort to enhance GreenBank’s management team and reorganize our resources as we prepare for the resumption of trading on the CSE and the Company’s next phase of growth. Gaurav Singh, who has held the role of CFO since November 2017, will continue as Director with a greater focus on corporate strategy and key investments for the Company.
GreenBank Chairman Mark Wettreich commented “Both Terry and Miles are inspired new resources for GreenBank, with Terry developing opportunities in the UK & European markets and Miles continuing to purvey, with Gaurav, the robust fiscal controls already in place .”
Mr. Pullen is CEO of The Substantia Group, which delivers property and, business consultancy, design & build planning advice and communications services across the United Kingdom. Mr. Pullen was a Principal Partner of J. Rothschild Assurance, operates in commercial & residential property development and throughout his 32-year business career has held numerous chief executive roles across a range of business sectors. Mr. Pullen’s entrepreneurial mindset as well as his ample experience overseeing finance, marketing, and corporate strategy serve to strengthen GreenBank’s board going forward.
Mr. Nagamatsu is a Chartered Professional Accountant, Chartered Accountant with over 30 years of financial experience, in the areas of accounting, finance, management, lending, restructurings and turnarounds. Since 1993, Miles has acted as part-time Chief Financial Officer of public and private companies primarily in the mineral exploration and investment management sectors. Miles is currently the Chief Financial Officer of Cartier Iron Corporation, Eloro Resources Ltd., Essex Oil Ltd., United Hunter Oil & Gas Corp., Forsys Metals Corp. and Laurion Mineral Exploration Inc.
As part of its renewed focus on larger transactions and later stage ventures, GreenBank has elected to discontinue and wind up operations of North America Veterans Insurance Services Inc., Medik Blockchain Inc., Cannabis Blockchain Inc., and Expatriate Assistance Services Inc. These four ventures were incubated by GreenBank in 2018 and their activities were subsequently put on hold due to working capital constraints. Also, the Company has wound up the previously discontinued operations of Veterans Financial Group. There is no material impact of these actions is on the financials of the company.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL). GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s portfolio companies comprise equity investments in 15 small cap businesses, namely; 52.5% 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; 22.6% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 47.7% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada; 100% of Medik Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community; 100% of Cannabis Blockchain Inc, developers of a digital information management system for the cannabis industry; 59.5% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 100% of North America Veterans Insurance Services Inc, an insurance agency holding company; 19% of Inside Bay Street Corporation, a financial news communications company; 34.8% of Gander Exploration Inc, a minerals exploration company in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 25% of Buchans Wileys Exploration Inc, a minerals exploration company with interests in Newfoundland, Canada; 19% of Staminier Limited, a United Kingdom Merchant Banking firm, 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 100% of Expatriate Assistance Services Inc, providing relocation services to expatriates; and 11.2% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company.
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