GreenBank Capital Announces a Successful Exit of Its Investment in KYC Technology
Thursday, March 21, 2019 7:00 AM
This News Release is not for Distribution or Dissemination in the United States of America
TORONTO, ON / ACCESSWIRE / March 21, 2019 / GreenBank Capital Inc. (CSE: GBC) and (OTC PINK: GRNBF) and (FRA; 2TL) ("GreenBank or the Company") announces that it has successfully exited its investment in portfolio company KYC Technology Inc ("KYC").
The shares were acquired by a group of private investors in the United States (collectively "Purchasers"), from GreenBank as part of an acquisition of a total 2,377,325 common shares, representing 95.09% of the KYC issued and outstanding common shares. In the transaction GreenBank sold 300,001 common shares for the payment of CSD$97,500 at a deemed price of CAD$0.325 per share.
It is also announced that the Purchasers will be making an offer to purchase the remaining 4.91% of the issued and outstanding share capital of KYC at the same deemed price of CAD$0.325 per share. A letter formally extending this offer will be mailed to all shareholders this week by Mark Wettreich, CEO - KYC Technology, on behalf of the Purchasers.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTC PINK: GRNBF and FRA: 2TL) 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 16 small cap businesses, namely; 52% 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; 24% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 50% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada; 100% of Medik Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community; 100% of Cannabis Blockchain Inc, developers of a digital information management system for the cannabis industry; 19% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 100% of North America Veterans Insurance Services Inc, an insurance agency holding company; 19% of Inside Bay Street Corporation, a financial news communications company; 30% 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; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 100% of Expatriate Assistance Services Inc, providing relocation services to expatriates; 14% of Slabdeck Technology Inc, developers of a search mobile application; and 18.25% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company;
For more information please see https://www.GreenBankCapitalinc.com or contact David Lonsdale at (647) 931 9768 or by email [email protected]
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.
SOURCE: GreenBank Capital Inc.