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Toronto, Ontario, June 26, 2020 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) (“GreenBank or the Company”) announces that pursuant to the blanket relief granted by the Canadian Securities Administrators it will not file its interim financial statements for the 9 months ended April 30, 2020 and the related management’s discussion and analysis and officer certifications, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the “Interim Filings”) by the filing deadline of June 29, 2020.
The Company will rely on an exemption set out in Ontario Instrument 51-505: Temporary Exemption from Certain Corporate Finance Requirements which provides blanket relief of a 45-day extension provided for periodic filings normally required to be made by issuers during the period from June 2, 2020 to August 31, 2020. The Company expects to file the Interim Filings by July 29, 2020.
The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207: Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Directors and officers are subject to a black-out period for a period of two trading days after the Interim Filings have been filed and disclosed by way of a news release.
Other than the business developments that have been previously disclosed and filed on SEDAR, the Company confirms that there have been no material business developments since the filing of its interim financial statements on April 1, 2020.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL). GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s portfolio companies comprise equity investments in 11 small cap businesses, namely; 52.5% 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; 22.6% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 47.7% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada;; 59.5% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi;; 19% of Inside Bay Street Corporation, a financial news communications company; 34.8% of Gander Exploration Inc, a minerals exploration company in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 25% of Buchans Wileys Exploration Inc, a minerals exploration company with interests in Newfoundland, Canada; 19% of Staminier Limited, a United Kingdom Merchant Banking firm, 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments;; and 11.2% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company.
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