Staminier expects to generate C$250,000 per annum from staking an initial 233m Freeway Tokens
Staminier intends to stake further Freeway Tokens once the relevant lock-in periods have concluded
Move underlines GreenBank’s model of balancing the risk associated with investing in the potential Unicorns of tomorrow with positive cashflow and asset backed deals
Toronto, April 22, 2022 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) (“GreenBank” or “the Company”) reports that its 19% owned portfolio company Staminier Limited (“Staminier”), has chosen to stake an initial 233m of its Freeway Tokens on the Freeway platform and to invest the staking rewards into Freeway’s USD supercharger.
As previously disclosed in the GreenBank press release dated November 12, 2020, Staminier acquired a total of 400 million freeway tokens subject to certain lock-in provisions that enable tokens to become freely saleable in tranches. As of the writing of today’s release, the value of Staminier’s 233 mllion currently staked Freeway Tokens is ~C$5.86m and at the current staking level, barring any changes, Staminier’s currently staked tokens are expected to generate approximately C$20,000 per month.
Staminier has informed GreenBank that it plans to increase the number of its Freeway Tokens that are staked on the Freeway platform and to increase the level of its investment in the various Freeway supercharger products.
Freeway is the pioneering asset management platform developed to help service the needs of institutional, professional and retail investors in the multi-trillion dollar global asset management industry. Freeway Tokens are traded on crypto currency platforms and have a strictly limited maximum supply of only 10bn. Based on the midmarket price at 5pm GMT on 20th April 2022 reported on CoinGecko (https://www.coingecko.com/en/coins/freeway-token ), Staminier’s total holding of Freeway Tokens is 384m which had a market value of approximately C$10m, representing an unrealized profit since purchase of approximately C$8.3m.
Per its website at (https://freeway.io/ ), “Freeway intends to use disruptive financial technology to harness the power of network effects to generate increased returns for its user base by distributing up to 80% of traditional commissions and product costs (e.g. fees, margins, spreads and rebates paid to brokers and other intermediaries) as rewards to its user base instead”
Freeway’s management team and advisors have worked at some of the largest financial, legal and technology companies in the world including Goldman Sachs, HSBC, Fidelity, Credit Suisse, Morgan Stanley, IBM, Google, McGuireWoods and The Prudential.
GreenBank aims to make investments in the potential unicorns of tomorrow, and aims to balance that risk with investments that generate positive cashflow or are asset backed This blended model aims to provide GreenBank investors with the potential for exponential upside whilst also aiming to mitigate downside risk wherever possible.
Commenting on the staking rewards that Staminier are receiving, GreenBank and Staminier CEO Terry Pullen said “Freeway have already made amazing progress in the relatively short time that Staminier have been invested and we are highly confident that this progress will significantly accelerate in the coming months and years. We look forward to developing an increasingly close relationship with Freeway and their excellent management team”
Graham Doggart co-founder and joint CEO of Freeway said “We are delighted that GreenBank’s portfolio company Staminier have chosen to stake their Freeway tokens and to generate this recurring revenue. Freeway is making rapid progress towards becoming a large international company and we look forward to working increasingly closely as both companies benefit from Freeway’s increasing momentum”
For further information, please contact:
Terry Pullen, CEO GreenBank Capital
Tel: +44 (0)7831 402 388
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.