GREENBANK AFFILIATE UBIQUE MINERALS COMPLETES PRIVATE PLACEMENT

Jun 07, 2018

This news release is not for distribution or dissemination in the United States of America

 

Toronto, Ontario, June 7, 2018 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) ("GreenBank or the Company") announces that its affiliate portfolio company Ubique Minerals Limited ("Ubique") has completed the final tranche of its non-brokered private placement and raised a further $61,000 for a total of $237,500.

Ubique has issued a total of 1,770,000 Hard-Dollar Units (“HDU”) and 605,000 Flow-Through Units (“FTU”) in the private placement each priced at $0.10 per Unit.  Each HDU comprises one share with an A and a B warrant. The A warrant provides the right to buy one share for a period of 10 days from the date of the CSE listing of the Ubique shares, at a 20% discount from the CSE listing price, with a minimum price of $0.10. The B warrant provides the right to buy one share for a period of 18 months from the date of the CSE listing of the Ubique shares, at a 20% discount from the CSE listing price, with a minimum price of $0.10. Each FTU comprises one share with one-half A and one-half B warrants on the same terms as the HDU warrants.  A total finder’s fee of $6,600 was paid and 66,000 finder’s warrants were issued at an exercise price of $0.10 per share, which are exercisable for a period of 18 months.

The proceeds are intended to be used for a phase I drilling on Ubique’s Daniels Harbour Zinc Project located in Newfoundland, Canada, completion of the CSE listing requirements for Ubique common shares, and general working capital for Ubique. Ubique will seek a listing on the CSE in the next few months, although there is no guarantee that a listing application will be approved.

 

GreenBank Plan of Arrangement Update

 

Separately, further to GreenBank’s press release on May 8th announcing that its board of directors approved a proposal to distribute to its shareholders a percentage of its shareholding in three of its portfolio companies, Ubique, Buchans Wileys Exploration Inc, (“Buchans Wileys”) and Gander Exploration Inc (“Gander”), by way of a Plan of Arrangement (the “Plan”), GreenBank has now modified the Plan to adjust for additional common share issuances, and will now distribute 4,400,000 common shares of Ubique, 2,200,000 common shares of Buchans Wileys, and 495,000 common shares of Gander, to holders of common shares of GreenBank on the June 4, 2018 Record Date. For every one GreenBank common share on the Record Date, shareholders will receive 0.16413 common share of Ubique, 0.08206 of common share in Buchans Wileys, and 0.01846 common share of Gander. Shares will be rounded to the nearest whole share.

 

About GreenBank

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 15 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; 25% 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 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; 19.9% of Gander Exploration, a minerals exploration company in Newfoundland, Canada; 100% of Cannabis Blockchain Inc, developers of a digital information management system for the cannabis industry; and 100% of Expatriate Assistance Services Inc, providing relocation services to expatriates.

 

For more information please see https://www.GreenBankCapitalinc.com or contact Daniel Wettreich at (647) 931 9768 or by email dw@GreenBankCapitalinc.com

 

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.