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Toronto, Ontario (FSCwire) - GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA; 2TL) ("GreenBank or the Company") announces that it disagrees with statements made today by the directors of Minfocus Exploration Corp. (TSXV: MFX) (“Minfocus”). In a press release disseminated today, Kenneth de Graaf, CEO of Minfocus, stated that GreenBank has not requisitioned a Minfocus shareholder meeting in accordance with the requirements of section 167 of the British Columbia Business Corporations Act (the “Act”). That is not correct. The Act requires the Notice of Requisition of Shareholders Meeting to be mailed by registered mail to the mailing address of the registered office of the company. This was done on March 1, 2017, and a copy was also mailed by regular mail, as well as a copy emailed to Kenneth de Graaf.
“This is just a lame excuse by Kenneth de Graaf in an attempt to delay the holding of a shareholder meeting,” said Danny Wettreich, CEO of GreenBank.
GreenBank welcomes the decision of Kapuskasing Gold Corp (TSXV:KAP) to terminate the Letter of Intent with Minfocus regarding an option agreement. GreenBank believes that no corporate actions should be taken by the current Minfocus directors until shareholders have had an opportunity to elect new directors at a shareholders meeting.
GreenBank has received no formal response from Minfocus directors to its requisition of a shareholders meeting of Minfocus pursuant to Section 167 of the Business Corporations Act (BC). At the meeting shareholders will be asked to remove the current directors of Minfocus and elect three new directors.
GreenBank has made representations to the TSX Venture Exchange to prevent the issuance of new Minfocus shares until Minfocus shareholders have had an opportunity to elect new directors at a shareholders meeting.