Toronto, Ontario, November 1, 2021 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) (“GreenBank” or “the Company”) announces that Pharmakure Limited (“Pharmakure”) and the Company have mutually agreed to terminate their previously disclosed commercial agreement (“The Agreement”) in which GreenBank was to acquire a shareholding in and provide merchant banking services to Pharmakure and now are currently discussing new terms.
In the meantime both parties agree that there are no further accrued rights, entitlements, obligations, or funding requirements under the Agreement by either Pharmakure or GreenBank, that all costs incurred to date by either company are for their own account, and that the $50,000 CAD sum paid by Pharmakure to GreenBank in May of 2021 is a non-reimbursable payment for work performed. The Confidentiality provisions of the Agreement shall remain in force and effect for a period of two years.
GreenBank remains excited about and interested in Pharmakure’ s ambitious aims and goals in respect to treating the symptoms of Alzheimer’s Disease and remain impressed with Pharmakure’s progress to date as well as the professionalism and competence of their management team. The two companies are currently discussing new ways in which GreenBank can assist Pharmakure’s intensive plans and have concluded that such arrangements would necessitate a new agreement.
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. For details of our “6 Key Drivers of Value” please see our latest Investor Presentation: