Closing of First Tranche of Private Placement, Director Resignation, Delay of Filings
GreenBank Capital has closed the first tranche of its private placement, raising $591,419 through issuing 16,828,570 units. The company raised $166,673 by issuing 8,333,650 units at $0.02 per unit and completed a $424,764 debt settlement through 8,494,920 units at $0.05 per unit. Each unit includes one common share and a warrant exercisable at C$0.075 for three years. The company expects to miss its November 28, 2024 filing deadline for annual financial statements and anticipates a failure-to-file cease trade order. Additionally, Sir Robert Neill has resigned as director effective November 26, 2024.
GreenBank Capital ha concluso la prima tranche del suo collocamento privato, raccogliendo $591,419 attraverso l'emissione di 16,828,570 unità. L'azienda ha raccolto $166,673 emettendo 8,333,650 unità a $0,02 per unità e ha completato una risoluzione del debito di $424,764 tramite 8,494,920 unità a $0,05 per unità. Ogni unità include una azione ordinaria e un warrant esercitabile a C$0,075 per tre anni. L'azienda prevede di non rispettare la scadenza del 28 novembre 2024 per la presentazione dei bilanci annui e anticipa un ordine di cessazione del commercio per mancata presentazione. Inoltre, Sir Robert Neill si è dimesso da direttore con effetto dal 26 novembre 2024.
GreenBank Capital ha cerrado la primera tanda de su colocación privada, recaudando $591,419 mediante la emisión de 16,828,570 unidades. La empresa recaudó $166,673 al emitir 8,333,650 unidades a $0.02 por unidad y completó un acuerdo de deuda de $424,764 a través de 8,494,920 unidades a $0.05 por unidad. Cada unidad incluye una acción ordinaria y un warrant ejercitable a C$0.075 durante tres años. La empresa espera no cumplir con la fecha límite de presentación del 28 de noviembre de 2024 para los estados financieros anuales y anticipa una orden de cese de comercio por falta de presentación. Además, Sir Robert Neill ha renunciado como director, con efecto a partir del 26 de noviembre de 2024.
GreenBank Capital는 사모 배정을 통해 16,828,570개의 유닛을 발행하여 $591,419를 모금하며 첫 번째 분배를 마쳤습니다. 이 회사는 8,333,650개의 유닛을 유닛당 $0.02에 발행하여 $166,673을 모금하였으며, 8,494,920개의 유닛을 유닛당 $0.05에 발행하여 $424,764의 채무 정산을 완료했습니다. 각 유닛은 하나의 보통주와 C$0.075에 3년 동안 행사 가능한 워런트를 포함합니다. 이 회사는 2024년 11월 28일로 예정된 연간 재무제표 제출 기한을 놓칠 것으로 예상하며, 제출 실패에 따른 거래 중지 명령을 anticipa합니다. 또한, Sir Robert Neill은 2024년 11월 26일자로 이사직을 사임하였습니다.
GreenBank Capital a conclu la première tranche de son placement privé, levant $591,419 grâce à l'émission de 16,828,570 unités. La société a levé $166,673 en émettant 8,333,650 unités à $0,02 par unité et a finalisé un règlement de dette de $424,764 à travers 8,494,920 unités à $0,05 par unité. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à C$0,075 pendant trois ans. La société s'attend à ne pas respecter la date limite du 28 novembre 2024 pour le dépôt des états financiers annuels et prévoit une ordonnance de cessation de négociation pour défaut de dépôt. De plus, Sir Robert Neill a démissionné de son poste de directeur à compter du 26 novembre 2024.
GreenBank Capital hat die erste Tranche seiner Privatplatzierung abgeschlossen und $591,419 durch die Ausgabe von 16,828,570 Einheiten gesammelt. Das Unternehmen hat $166,673 durch die Ausgabe von 8,333,650 Einheiten zu je $0,02 pro Einheit gesammelt und eine Schuldenregelung über $424,764 durch 8,494,920 Einheiten zu je $0,05 pro Einheit abgeschlossen. Jede Einheit umfasst eine Stammaktie und ein Warrant, der drei Jahre lang zu C$0,075 ausgeübt werden kann. Das Unternehmen erwartet, die Frist zur Einreichung des Jahresabschlusses am 28. November 2024 zu verpassen und geht von einer Handelsaussetzung wegen Nicht-Einreichung aus. Darüber hinaus hat Sir Robert Neill zum 26. November 2024 sein Direktorat niedergelegt.
- Successfully raised $591,419 through private placement
- Reduced debt by $424,764 through debt settlement with creditors
- Failure to file annual financial statements by deadline
- Expected cease trade order from Ontario Securities Commission
- Director resignation indicating potential leadership instability
- Significant share dilution through unit issuance at low prices ($0.02 and $0.05)
REYKJAVIK, ICELAND / ACCESSWIRE / December 2, 2024 / Greenbank Capital (CSE:GBC)(OTCMKTS:GRNBF)(FRA:2TL) ("GreenBank" or the "Company") is pleased to announce the successful closing of the first tranche of its previously announced private placement, raising a total of
The Company also announces that it expects it will be unable to file its annual financial statements, management discussion and analysis and related certifying officer certificates for the year ended July 31, 2024 (the "Required Filings") on or before the November 28, 2024, filing deadline (the "Filing Deadline"). The Company's annual audit has been delayed due to a focus on restructuring and streamlining operations during a period of significant corporate transition.
The Company expects the Ontario Securities Commission to be issuing a failure-to-file cease trade order (FFCTO) after the due date against the Issuer for failure to file such documents.
The Company has not taken any steps towards any insolvency proceeding and the Company has no other material information to release to the public.
Private Placement Update
The Company has raised
In addition, the Company has completed a debt settlement of
Director Resignation
The Company announces that, effective November 26, 2024, Sir Robert Neill has resigned as a director of GreenBank Capital, citing family and professional commitments. The Board expresses its gratitude to Sir Robert for his valuable contributions and dedication during his tenure. We extend our best wishes for his future endeavors.
The debt conversions with present and past directors and officers and companies owned or controlled by them is a related party transaction within the meaning of Multilateral Instrument 61-101. The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the offering by insiders will not exceed 25 per cent of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering and Debt Conversion, a decision which the Company deems reasonable in the circumstances as to be able to avail itself of the proceeds of the Offering in an expeditious manner.
For further information, please contact:
Vilhjalmur Thor Vilhjalmsson, CEO and Chairman, GreenBank Capital
Tel: +354 8697296
Email: vilhjalmur@jvcapital.co.uk
About GreenBank
GreenBank is a business-transformation firm, which aims to nurture early stage and growth companies to their full potential. Through modern approaches to the provisions of consultancy services, GreenBank takes a stake in companies it hopes to nurture and gives the opportunity to the founders and executives of those companies to benefit from the years of collective experience of the GreenBank management team.
The team are based in Reykjavík, London and Toronto and work diligently across borders to ensure that businesses in the GreenBank portfolio reach their core objectives. The businesses the Company typically works with are start-ups or early-stage and include mining and mineral exploration companies. From this emergent state, GreenBank aims to quickly implement strong business practices by, where possible and required, deploying operations, communications, data strategy and financial expertise.
Whether a business desires to become a successful private company, list publicly, or is seeking a profitable exit, GreenBank tries to add value at every stage as a strategic partner. GreenBank is listed on the Canadian Securities Exchange, under the symbol "GBC", and on the OTC markets (OTCMKTS: GRNBF) as well as the Frankfurt Boerse (FRA: 2TL).
Forward Looking Information
This news release contains statements that include "forward looking information" as defined in applicable Canadian securities laws, including, but not limited to, statements with respect to the filing of GreenBank's financial disclosure documentation and the pending imposition of a Cease Trade Order against Greenbank, Greenbank's investment strategy. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GreenBank to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: inability to complete and file the financial disclosure documents and obtaining a revocation of any cease trade order in a timely fashion, or at all, challenges in identifying and concluding investment transactions with attractive companies on favourable terms, or at all, , future prices and the supply of metals; the results of drilling; inability to raise the money necessary to conclude investment transactions with third-party companies or to incur the expenditures required to retain and advance the Suni project, environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks inherent in business, such as; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to GreenBank's filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although GreenBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and GreenBank disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE: GreenBank Capital Inc.
View the original press release on accesswire.com
FAQ
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