GreenBank Capital has acquired new shares and warrants following a private placement conducted by Ubique Minerals Limited.
Toronto, Ontario, 12th December 2022 – Greenbank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) (“GreenBank” or the “Company”), is pleased to announce that it has further increased its shares in the mining company Ubique Minerals Limited (CSE: UBQ) (“Ubique”).
- Ubique announced in September that it was acquiring a 90% interest in a Namibian mining production company
- GreenBank has since participated in a private placement, increasing to 14,977,705 the number of shares it holds in Ubique (representing 18.26% of the company)
- As part of that participation GreenBank has secured a further 666,666 warrants over Ubique shares exercisable at a price of C$0.20 per share and valid for 24 months.
- This is in addition to the 4,000,000 Ubique warrants it already holds at C$0.075, which are valid until July 2023.
Further details on the Ubique private placement (full press release)
The total number of shares that have been issued in the private placement and for services represents approximately 8.2% of the outstanding common shares of Ubique. Upon closing the private placement and issuance of shares for services, Ubique has a total of 82,027,050 common shares outstanding.
About the Ubique Namibia Project (full press release)
The Project consists of a lead-zinc mine located near Swakopmund, Namibia that was built in 2018-2019 and operated until April 2020. The Project was put into care and maintenance due to health and safety concerns related to the Covid-19 pandemic as well as the closure of the border with South Africa, from where the Project sourced key supplies.
Since April 2020, the Project has been maintained in a ready-to-restart status, including maintaining access to the mine and intermittent functional checks of process plant components.
Terry Pullen, CEO and Chairman of GreenBank Capital, said “We are pleased to be increasing our shares in Ubique, via the private placement, especially to support the quick development of the Namibian Lead and Zinc Mining production opportunity.”
Vilhjalmur Vilhjalmsson, CEO of Ubique Minerals, said “It is positive to feel the support from the largest shareholders and management in the funding round that Ubique is currently undertaking. We look forward to successfully conclude the Namibian transaction and become a producing mining company next year.”
GreenBank is a publicly traded company that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto and London and are used to working across borders remotely. GreenBank invests in multi-sector undervalued public and private growth companies focused on building consistent capital appreciation for its shareholders.
GreenBank is listed on the Canadian Securities Exchange (CSE:GBC), the Frankfurt Boerse (FRA:2TL) and on the OTC Markets in the USA (OTC PINK:GRNBF).
For further information, please contact:
Terry Pullen, CEO and Chairman of GreenBank Capital
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 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 14 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.