Successful Funding of Investee Company Beelivery
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.
- Successful funding round raised £1,000,474 for Beelivery.
- GreenBank's 780 shares in Beelivery now valued at approximately £2,636,384 or CAD $4,635,504.
- Enhances GreenBank's NAV by approximately CAD $0.037 per share.
- CEO highlights commitment to supporting innovative businesses.
- Beelivery plans for further funds to support growth into new markets within the year.
- Potential shareholder dilution if Beelivery issues more shares in future funding rounds.
- Reliance on favorable exchange rates for accurate valuation in Canadian dollars.
REYKJAVÍK, ICELAND / ACCESSWIRE / June 12, 2024 / GreenBank Capital (CSE:GBC)(OTCMKTS:GRNBF)(FRA:2TL) ("GreenBank" or the "Company") is pleased to announce that our investee company, Beelivery, has successfully completed a funding round, raising £1,000,474 through the issuance of 296 shares at a price of £3,379.98 per share.
GreenBank Capital owns 780 shares in Beelivery, which, at the current funding round price, translates to a value of approximately £2,636,384. In Canadian dollars, this value is approximately CAD
Given GreenBank's outstanding shares totaling 125,271,001, this investment in Beelivery adds approximately CAD
Vilhjalmur Thor Vilhjalmsson, CEO and Chairman of GreenBank, commented, "We continue to work closely with our investee companies to add value and drive growth. This successful funding round for Beelivery underscores our commitment to supporting innovative businesses and maximizing shareholder value. Beelivery is looking for further funds to support its growth into new markets within the year, and we are excited about their future prospects."
About Beelivery
Beelivery is a leading on-demand grocery delivery service in the UK, offering rapid delivery to customers within 60 minutes of placing an order. By leveraging a network of local delivery drivers and advanced logistics technology, Beelivery provides unparalleled convenience and service quality in the grocery delivery market.
For further information, please contact:
Vilhjalmur Thor Vilhjalmsson, CEO and Chairman, GreenBank Capital
Tel : +354 8697296
Email: vilhjalmur@jvcapital.co.uk
* https://www.xe.com/currencyconverter/convert/?Amount=2636384&From=GBP&To=CAD
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 proposed private placement and debt conversion, and 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 find subscribers for the private placement, 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
View the original press release on accesswire.com
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