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Toronto, Ontario, May 22, 2018 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) (“GreenBank or the Company”) announces that it has established Expatriate Assistance Services Inc (“EASI”) as a 100% subsidiary. EASI will provide a broad range of services to expatriates seeking to settle in Canada. Fee based services provided by EASI will include employment opportunities, immigration and visa procedures, housing assistance, education opportunities, banking facilities, and professional services.
The process of relocation for expatriates is stressful, time consuming, and expensive, and limited capabilities are available to assist in navigating the multiple issues that require resolution. EASI will offer specialist expertise to expatriates to smooth the transition to Canada for an initial fixed fee for 90 day support services. Thereafter, clients can select from a menu of support services on an “as needed” basis. Concierge services will include home-country assistance with tax issues, bill payments, property management, and cross-border estate planning. In jurisdictions outside Canada, EASI will enter into arrangements with local professionals to ensure the quality of home-country services.
In May 2018 the Conference Board of Canada called for an increase in the rate of Canadian immigration to an annual rate of 415,000 from the current rate of 310,000, primarily due to the fact that immigration accounts for most of the labour growth and about 30% of GDP growth. Over 40% of Canadian immigrants relocate to the Toronto area, where EASI is based. Canadian government policies are likely to continue encouraging immigration for the foreseeable future.
“I believe there is a substantial need for expatriate assistance as Canada continues to absorb a substantial number of immigrants, and the services offered by Expatriate Assistance Services will be well received by the expatriate community” said Gaurav Singh, director of EASI and GreenBank.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s portfolio companies comprise equity investments in 15 small cap businesses, namely; 52% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and developers of Xbook a user permissioned and revenue sharing social media platform; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 25% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 14% of Slabdeck Technology Inc, developers of a search mobile application; 12% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process; 19% of Inside Bay Street Corporation, a financial news communications company; 27% of Buchans Wileys Exploration Inc, a minerals exploration company with interests in Newfoundland, Canada; 100% of Medik Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community; 100% of North America Veterans Insurance Services Inc, an insurance agency holding company; 19% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 19.62% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company; 19.9% of Gander Exploration, a minerals exploration company in Newfoundland, Canada; 100% of Cannabis Blockchain Inc, developers of a digital information management system for the cannabis industry; and 100% of Expatriate Assistance Services Inc, providing relocation services to expatriates.
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 and the future development of the businesses comprising GreenBank’s investment portfolio. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company 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.