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GreenBank Completes Staminier Loan Acquisition

Thursday, September 29, 2022 5:30 PM
GreenBank Capital Inc.

TORONTO, ON / ACCESSWIRE / September 29, 2022 / GreenBank Capital ("GreenBank or the "Company") (CSE:GBC) reports that it has completed the acquisition of the loan made to Staminier Limited, taking yet another significant step towards ownership.

Summary

  • GreenBank has completed the acquisition of the loan of £4.975m (C$7.71m) made to Staminier Limited, plus interest accrued to date (C$822,400) and accruing in the future (C$51,700 per month).
  • The loan carried a 100% premium (C$7,710,000) if not repaid or converted by March 2024.
  • As previously disclosed in the press release on August 3, 2022, GreenBank agreed to acquire a loan and the consideration for the acquisition will be paid for by the issuance to the vendors of 20.7m GreenBank common shares from the treasury of GreenBank.

Steve O'Carroll, CEO of Staminier said "We are pleased to be moving at pace towards our shared end goal with GreenBank. The acquisition of this loan is an imperative step in the process of achieving our mission, and we are excited to see what the future holds for both companies."

About GreenBank

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. Our model of remote working, utilising dynamic office space and flexible contracts -rather than large, fixed costs - establishes GreenBank as a global business for the future.

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 GreenBank Capital

Email: [email protected] Tel: +44 (0)7831 402 388

SOURCE: GreenBank Capital

Topic:
Mergers and Acquisitions
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