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Toronto, Ontario, August 28, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) (“GreenBank or the Company”) announces that its 28% owned affiliate Ubique Minerals Limited (“Ubique”) has completed its drilling program on its Daniel’s Harbour zinc property in Newfoundland.
The program was expanded from 6 holes to a total of 9 holes due to on-site assessments of zinc indications. Zinc mineralization was visibly identified at numerous holes, and core samples have been sent to the laboratory for testing. The drill results will be released as soon as they are available to Ubique.
The results of the drilling program, together with historical estimates, are anticipated to form the basis of a NI 43-101 mineral resource report on the Daniel’s Harbour property which will be completed later this year.
Ubique owns 49 claims around the former Daniel’s Harbour zinc mine situated approximately 10 km northeast of the town of Daniel’s Harbour on the west coast of Newfoundland. The claims adjacent to Ubique’s claims are primarily owned by Altius Resources Inc, a subsidiary of Altius Minerals Corporation. Approximately 7,000,000 tonnes averaging 7.8% zinc have been mined from the Daniel’s Harbour mine (Wardle, R.J. (2000) Mineral Commodities of Newfoundland and Labrador – Zinc and Lead; Government of Newfoundland and Labrador, Geological Survey, Mineral Commodities Series Number 1, 12).
Roland Crossley P.Geo., is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.
Paul Cullingham, CEO of Ubique, has expressed Ubique’s appreciation of the financial support offered by the Junior Exploration Assistance Mineral Incentive Program (“JEA”) of the Department of Natural Resources, Government of Newfoundland and Labrador, for this Daniel’s Harbour drilling program. The JEA objective is to grow the mineral inventory of the province through mineral discoveries.
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 investment portfolio includes 10%
of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 28% of Ubique Minerals Limited, a minerals exploration company with interests in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; and 14% of Slabdeck Technology Inc, developers of a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication. Upon completion of the proposed distribution of its software division, GreenBank will also own 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and 15% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process. GreenBank has agreed to acquire 15% of Veterans Financial Group LLC, a Ohio, USA based insurance agency providing insurance services to veterans, families and businesses.
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.