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Toronto, Ontario, December 19, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) (“GreenBank or the Company”) announces that it has formed a 100% owned subsidiary company Medi-Data Blockchain Inc (“Medi-Data”) to provide blockchain based medical confidentiality systems to the healthcare community. GreenBank management believes that recording and storing patient data on an identification based blockchain represents the future of healthcare recordkeeping and has created Medi-Data as a wholly owned subsidiary to take advantage of this opportunity.
Medi-Data has entered into an agreement with Blockchain Evolution Inc to create a custom designed blockchain solution to ensure patient data confidentiality. As payment, Medi-Data will pay Blockchain Evolution Inc a 5% license fee on all revenue generated by Medi-Data. Blockchain Evolution Inc is a 15% owned portfolio company of GreenBank, and owns the world’s first identification based blockchain.
Receipt of the completed Medi-Data blockchain is anticipated to be in March 2018, at which time Medi-Data will commence marketing its medical confidentiality systems.
Medi-Data will address modern medical and healthcare recordkeeping needs to comply with privacy standards for handling protected health information. If a patient’s confidentiality is violated, hospitals, doctors, dentists, hygienists, caregivers, and other healthcare practitioners risk expensive, damaging lawsuits and regulatory issues. By utilizing the Medi-Data identification based blockchain, healthcare recordkeeping will be maintained in a secure and low-cost environment in compliance with privacy standards.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and OTCMKTS:GRNBF), 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 10 small cap businesses, namely; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 27% 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 unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication; 19% of Veterans Financial Group LLC, a Ohio, USA based insurance agency providing insurance services to veterans, families and businesses; 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain; 15% 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; and 100% of Medi-Data Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community.
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.