GREENBANK CAPITAL INC - GRNBF STOCK NEWS

GreenBank Capital announces a non-brokered private placement offering of $300,000, issuing 15,000,000 units at $0.02 per unit. Each unit includes one common share and one warrant exercisable at C$0.075 for 2 years. Additionally, the company plans to settle approximately $450,000 in debt through a debt conversion at $0.05 per unit, including $350,000 owed to current and past directors and officers. The first tranche is expected to close by November 15, 2024. The debt conversion qualifies as a related party transaction under MI 61-101, with the company utilizing exemptions from valuation and minority shareholder approval requirements.

GreenBank Capital (CSE:GBC)(OTC PINK:GRNBF)(FRA:2TL) has provided a quarterly update on various projects and investments:

1. Stanhove Gold Tailings: Samples sent for testing to improve recovery rates and assess mobile plant feasibility.

2. Ubique Minerals: Acquired 99.66% of Resource 500 V , expanding into Namibia's base metal-rich region.

3. Kiind CSR Service: Launched platform and app, with GreenBank as a client.

4. Staminier: Facing winding-up petition, discussing potential administration.

5. Klura Labs: Rebranded from CodiKoat, focusing on medical gloves, textiles, and plastics.

6. Beelivery: Completed £1m funding, but facing challenges; diversification planned.

7. Suni Iron Project: Exploring strategic options for sale or joint venture.

8. Funding: Working on closing first tranche of private placement.

9. AGM: Held on July 22, 2024; existing board re-elected.

10. CFO Change: Sam Legg appointed as new CFO, replacing Harpa Hermannsdottir.

On June 19, 2024, GreenBank Capital and Ubique Minerals announced a non-binding term sheet with Clientque Investments for acquiring MJR Mining and Exploration, which owns the Stanhove gold tailings dump in Johannesburg. The acquisition, valued at CAD $3,384,341, will be split 50/50 between GreenBank and Ubique. The deal includes a cash payment of CAD $846,103, two convertible debentures of CAD $500,000 each, and an additional CAD $1,538,309 post-production of the first 5,000 ounces of gold. Regulatory approvals, technical due diligence, and other conditions are pending, with completion expected within five business days after satisfaction. Ubique will manage operations, while GreenBank will handle financing and sales.

GreenBank Capital announces a successful funding round for its investee company, Beelivery, raising £1,000,474 through the issuance of 296 shares at £3,379.98 each.

GreenBank owns 780 shares in Beelivery, now valued at approximately £2,636,384 or CAD $4,635,504.

This translates to an addition of approximately CAD $0.037 per share to GreenBank's NAV, enhancing its asset portfolio value.

CEO Vilhjalmur Thor Vilhjalmsson emphasizes the company's commitment to supporting innovative businesses and maximizing shareholder value.

Beelivery plans to raise further funds for market expansion within the year, indicating positive future prospects.

GreenBank Capital announced updates to its previously declared private placement, planning to offer a non-brokered $1.25 million private placement of 25 million units at $0.05 per unit. Each unit consists of one common share and one warrant, with each warrant allowing the purchase of an additional share at $0.075 within two years. The offering includes up to 20 million hard dollar units and up to 5 million flow-through units.

The company also plans a debt settlement issuing similar units to creditors, expected to eliminate $450,000 in debt, including that owed to current and former directors and officers. The offering and debt settlement are expected to close by May 30, 2024, in multiple tranches. GreenBank will rely on exemptions from certain regulatory requirements, aiming for a swift conclusion to benefit from the offering proceeds.

GreenBank Capital has announced several key changes aimed at enhancing operational efficiency and aligning management with the company's future goals.

The board has decided to reduce directors' compensation by $1,000 per month per director, resulting in annual savings of $60,000.

A new incentive stock option plan has been approved, encompassing 6,200,000 shares, exercisable at $0.08 each and valid for 36 months. The shares are distributed among key personnel, including the CEO, CFO, and directors.

Additionally, Harpa Hermannsdóttir has been appointed as the new CFO. With over 20 years of experience, she has held senior positions at prominent international companies and has served as a lecturer at the University of Iceland.

CEO Vilhjalmur Thor Vilhjalmsson expressed optimism about these changes, emphasizing the company's journey towards becoming a self-sustained investment entity.

GreenBank Capital has released its quarterly update, highlighting the lifting of the CTO, income generation, Staminier update, and progress in the Suni Iron Project. The company has focused on finalizing accounts, collaborating with investee companies for income generation, and evaluating opportunities for strategic investments. GreenBank generated income for the first time, totaling approximately $174,500, and continues to anticipate revenue generation through consulting services. Staminier is engaging with the Future Fund to maximize asset value, and the Suni Iron Project licenses have been renewed.

Greenbank Capital Inc. announces the revocation of the failure-to-file cease trade order by the Ontario Securities Commission, following the submission of required financial filings. The company is now up to date with its continuous disclosure obligations and will resume trading of common shares soon. Greenbank's business remains active with no changes to its current plan.