Greenbank Share Latest Update in Codikoat Position

Rhea-AI Summary

GreenBank Capital has provided an update regarding its investment valuation in CodiKoat. Following recent fundraising efforts by CodiKoat, the value of GreenBank's holding has increased significantly. The investment, originally made in May 2021 for C$928,792, is now valued at approximately C$1.9 million. If realized, this would represent over a 2x return on its initial investment.

CodiKoat is known for developing a fast ISO certified antimicrobial and antiviral coating technology. Recent advancements include the appointment of a new CEO, Blake Gudgel, and the expansion of its facilities and staff, positioning the company for further commercial success.

Positive

• Investment in CodiKoat has appreciated from C$928,792 to approximately C$1.9 million, potentially over 2x return.
• CodiKoat has appointed a new CEO and expanded its operations, signaling growth potential.

Negative

• None.

GreenBank Capital shares a brief update on CodiKoat position valuation following recent fund raisings by that company.

TORONTO, ON / ACCESSWIRE / April 18, 2023 / GreenBank Capital Inc. (CSE:GBC)(OTCMKTS:GRNBF)(FRA:2TL) ("GreenBank or the Company") is pleased to announce that following a recent fundraising carried out in the context of recent positive developments in portfolio company CodiKoat, the value of its holding has increased significantly.

Based on the latest valuation of CodiKoat, GreenBank's investment into the portfolio company of C$928,792 which was completed in May 2021, is now worth approximately C$1.9m Although as of yet unrealised, if this valuation were to be sustained on a sale of GreenBank's stake in the company it would represent more than a 2x return on the Company's initial investment.

CodiKoat, developers of the fastest ISO certified antimicrobial and antiviral coating technology in the world, have also recently announced the appointment of a new CEO, Blake Gudgel, the expansion of its labs near Cambridge, the recruitment of additional staff and some exciting new commercial developments.

About GreenBank

GreenBank Capital is a business-transformation firm, which aims to nurture early stage and growth companies to their full potential. Through modern approaches to 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 London and Toronto and work diligently across borders to ensure that businesses in the GreenBank portfolio reach their core objectives. The businesses we typically work with are start-ups or early-stage and include mining and mineral exploration companies. From this emergent state, we can quickly implement strong business practices by 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 Capital is listed on the Canadian Securities Exchange, under the symbol "GBC" and OTCMKTS:GRNBF and FRA;2TL).

For further information, please contact:

Terry Pullen, CEO GreenBank Capital
Tel: +44 (0)7831 402 38
Email: Terry@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 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.

SOURCE: GreenBank Capital Inc.

View source version on accesswire.com:
https://www.accesswire.com/749841/Greenbank-Share-Latest-Update-in-Codikoat-Position

FAQ

What is the current valuation of GreenBank's investment in CodiKoat?

GreenBank's investment in CodiKoat is currently valued at approximately C$1.9 million.

When was GreenBank's initial investment in CodiKoat made?

GreenBank's initial investment in CodiKoat was made in May 2021.

What recent developments have occurred at CodiKoat?

CodiKoat has appointed a new CEO, Blake Gudgel, and expanded its labs and staff.

What is the significance of CodiKoat's recent fundraising?

The recent fundraising by CodiKoat contributed to the increase in GreenBank's investment valuation.

What is the ticker symbol for GreenBank Capital on OTC markets?

The ticker symbol for GreenBank Capital on OTC markets is GRNBF.