Toronto, Ontario (FSCwire) - GreenBank Capital Inc. (CSE: GBC and OTCMKTS:
GRNBF) ("GreenBank or the Company") announces that it has completed the acquisition of 10% of The Lonsdale Group, LLC (“Lonsdale
Group”), a Dallas, Texas, USA based private equity company focused on small cap investments. GreenBank paid US$300,000 for
a 10% interest in Lonsdale Group, payable by the issuance by GreenBank of 400,000 CAD$1 Non-Voting 5% Preference Shares.
Lonsdale Group has minority investments in a number of diversified private companies comprising oil and gas
crowdfunding, data protection, emergency response technology, insurance products, telecommunication testing equipment, technology
marketing platforms, and medical alert technology. Lonsdale Group was founded in 2008 by David Lonsdale, the former President of
Allegiance Capital Corporation, a private investment bank focusing on mergers and acquisitions. In addition to equity
financing, Lonsdale Group plays an active advisory role in helping its portfolio companies grow.
David Lonsdale is also an independent director of GreenBank. The participation by David Lonsdale in this
transaction is considered to be a related party transaction as defined in Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). A special committee established by the board of directors
and consisting of an independent director determined that the related party transaction is fair and reasonable in the
circumstances to the Company. The Company has relied on sections 5.5(b) of MI 61-101 for an exemption from the formal
valuation requirement, and section 5.7(a) of MI 61-101 for an exemption from the minority shareholder approval requirements. A
material change report in respect of the related party transaction was filed at least 21 days in advance of the closing of the
Agreement.
About GreenBank
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and
OTCMKTS:GRNBF). Its 80% subsidiary GreenCoinX Limited, a UK company, has developed the world’s first cryptocurrency and
blockchain requiring user identification. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank owns
10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments. GreenBank is in the process
of completing the acquisition of 35% of Ubique Minerals Limited, a private minerals exploration company with interests in
Newfoundland, Canada.
For more information please see www.GreenBankCapitalinc.com or
www.GreenCoinX.com or contact Daniel Wettreich at (647) 931 9768 or by email dw@GreenBankCapitalinc.com .
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.,
raising additional capital and the future development of GreenCoinX. 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/GreenBankMay32017.pdf
Source: GreenBank Capital Inc. (CSE:GBC)
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