GreenBank Completes Staminier Loan Acquisition

Rhea-AI Summary

GreenBank Capital has successfully completed the acquisition of a £4.975 million (C$7.71 million) loan from Staminier Limited, along with accrued interest of C$822,400. The total loan amount could accrue a 100% premium (C$7.71 million) if not repaid by March 2024. To finance this acquisition, GreenBank will issue 20.7 million common shares. This strategic step is vital for GreenBank's objectives and aims to enhance its growth prospects.

Positive

• Acquisition of a significant loan from Staminier Limited valued at C$7.71 million.
• Potential for revenue growth with the interest accrued from the loan.

Negative

• Loan carries a 100% premium if not repaid by March 2024, potentially increasing financial strain.
• Issuance of 20.7 million shares may lead to shareholder dilution.

TORONTO, ON / ACCESSWIRE / September 29, 2022 / GreenBank Capital ("GreenBank or the "Company") (CSE:GBC) reports that it has completed the acquisition of the loan made to Staminier Limited, taking yet another significant step towards ownership.

Summary

• GreenBank has completed the acquisition of the loan of £4.975m (C$7.71m) made to Staminier Limited, plus interest accrued to date (C$822,400) and accruing in the future (C$51,700 per month).
• The loan carried a 100% premium (C$7,710,000) if not repaid or converted by March 2024.
• As previously disclosed in the press release on August 3, 2022, GreenBank agreed to acquire a loan and the consideration for the acquisition will be paid for by the issuance to the vendors of 20.7m GreenBank common shares from the treasury of GreenBank.

Steve O'Carroll, CEO of Staminier said "We are pleased to be moving at pace towards our shared end goal with GreenBank. The acquisition of this loan is an imperative step in the process of achieving our mission, and we are excited to see what the future holds for both companies."

About GreenBank

GreenBank is a publicly traded company that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto and London and are used to working across borders remotely. GreenBank invests in multi-sector undervalued public and private growth companies focused on building consistent capital appreciation for its shareholders. Our model of remote working, utilising dynamic office space and flexible contracts -rather than large, fixed costs - establishes GreenBank as a global business for the future.

GreenBank is listed on the Canadian Securities Exchange (CSE:GBC), the Frankfurt Boerse (FRA:2TL) and on the OTC Markets in the USA (OTC PINK:GRNBF).

For further information, please contact:

Terry Pullen, CEO GreenBank Capital

Email: Terry@GreenBankCapitalInc.com Tel: +44 (0)7831 402 388

SOURCE: GreenBank Capital

View source version on accesswire.com:
https://www.accesswire.com/718190/GreenBank-Completes-Staminier-Loan-Acquisition

FAQ

What is the significance of GreenBank's acquisition of the loan to Staminier Limited?

The acquisition represents a strategic step for GreenBank, potentially leading to revenue growth and enhanced business opportunities.

What are the financial implications of the loan acquisition by GreenBank?

The loan acquisition involves a principle of £4.975 million (C$7.71 million) plus accrued interest, with a significant premium if not repaid by March 2024.

How will the acquisition impact GreenBank's shares?

GreenBank will issue 20.7 million common shares to finance the acquisition, which could lead to shareholder dilution.

When is the deadline for Staminier Limited to repay the loan to avoid premiums?

The loan must be repaid by March 2024 to avoid incurring a 100% premium.