GreenBank Portfolio Company Staminier Acquires Stake in Creator of Next-Generation Epic "MMO" Game in the Metaverse

Rhea-AI Summary

GreenBank Capital Inc. (CSE:GBC)(OTC PINK:GRNBF) announces that its 19%-owned subsidiary, Staminier Limited, will acquire up to 21% of NARC Limited, the developer of the anticipated MMO game Beyond Ever After. Staminier initially invests £525,000 for a 2.6% stake, with an option for an additional £4.94 million. NARC's management includes key figures from Eve Online, bolstering confidence in this venture. The game aims to utilize real money trading within a customizable gaming environment, targeting extensive user engagement and ongoing revenue generation.

Positive

• Staminier's acquisition represents a strategic investment in a highly anticipated MMO game, potentially boosting future revenues.
• NARC's experienced management team, including co-founders of Eve Online, enhances credibility and growth prospects.

Negative

• The initial investment and further funding could strain resources if NARC's game development faces delays or obstacles.
• Investment option has a set deadline; lack of timely execution could limit Staminier's overall stake.

Staminier's stake in NARC Limited is a reflection of its excitement surrounding "Beyond Ever After", NARC's cutting-edge MMO game under development.

NARC's experienced management team and Board of Directors includes a key cofounder of Eve Online - the popular MMO game which previously sold for $428m in September 2018, and includes the former head of Sony PlayStation Europe Chris Deering.

TORONTO, ON / ACCESSWIRE / May 3, 2022 / GreenBank Capital Inc. (CSE:GBC)(OTC PINK:GRNBF)(FRA:2TL) ("GreenBank" or "the Company") reports that its 19% owned portfolio company Staminier Limited ("Staminier"), has agreed to purchase potentially up to 21% of NARC Limited ("NARC"). NARC is the developer of "Beyond Ever After", a next-generation Massive Multiplayer Online (MMO) game designed for the metaverse.

NARC was founded by one of the key architects of Eve Online ("Eve"), the MMO which sold for $425 million in September 2018. Beyond Ever After has been under development for several years as an innovative next-generation MMO game. The game involves customizable character types utilizing real money trading in what amounts to a "mixed reality" model, where real money can be earned and spent in-game. The game is in production phase and is being designed to run on several devices and operating systems to facilitate maximum adoption and ease of use.

The current model calls for Beyond Ever After to be free to play and perpetual in nature, with new in-game content to be added seamlessly and periodically in real time. The game expects to generate revenue principally from transactions that its users elect to make within the game.

Terms of the transaction

Staminier, through its subsidiary Substantia, has agreed to invest an initial £525,000 at 75 Euros per NARC share ("the Initial Investment") for an initial 2.6% stake of NARC's fully diluted share capital. Staminier reported to GreenBank that at the time of this news release, £375,000 of these funds have already been paid to NARC, with a remaining £150,000 still to come in the initial investment.

Staminier also has an option to invest a further £4,941,779 ("the Secondary Investment") at valuations up to 120 Euros per NARC share. Were Staminier to independently choose to fund both the Initial Investment and the Secondary investment, Substantia would own 21% of the fully diluted capital of NARC. Substantia has until the beginning of July 2022 to inform NARC whether it wishes to exercise its option to make the Secondary Investment which would payable by 31^st January 2023.

Funding being provided by Staminier, through its wholly owned subsidiary Substantia, will enable NARC to continue the development of its ground-breaking MMO game Beyond Ever After, which is currently in production phase, following over ten years of planning, exploration, foundation, and pre-production.

For further information, please contact:
Terry Pullen, CEO GreenBank Capital
Email: Terry@GreenBankCapitalInc.com
Tel: +44 (0)7831 402 388

About GreenBank

GreenBank is a next generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto, Dallas and London and are used to working across borders remotely. Our model of remote working, dynamic space and flexible contracts -rather than large, fixed costs - establishes GreenBank as a global merchant bank for the future, both during and after COVID19.

GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the USA. GreenBank invests in undervalued exponential growth companies focused on building consistent capital appreciation for its shareholders.

SOURCE: GreenBank Capital Inc.

View source version on accesswire.com:
https://www.accesswire.com/699953/GreenBank-Portfolio-Company-Staminier-Acquires-Stake-in-Creator-of-Next-Generation-Epic-MMO-Game-in-the-Metaverse

FAQ

What is GreenBank Capital's stake in NARC Limited?

GreenBank Capital has a 19% stake in Staminier Limited, which is acquiring up to 21% of NARC Limited.

What is the purpose of Staminier's investment in NARC Limited?

The investment aims to support NARC's development of 'Beyond Ever After', a next-generation MMO game.

When was the investment in NARC Limited announced?

The investment was announced on May 3, 2022.

What will be the total potential stake of Staminier in NARC Limited?

If both investments are completed, Staminier could own up to 21% of NARC's fully diluted share capital.

What is the expected revenue model for 'Beyond Ever After'?

'Beyond Ever After' is expected to generate revenue primarily through in-game transactions.