GreenBank Capital Launches $300,000 Private Placement in Reykjavik

GreenBank Capital Inc. has announced a $300,000 non-brokered private placement. This involves the issuance of 15 million units, priced at $0.02 per unit. Each unit includes one common share and one warrant. Warrants permit purchase of a common share at C$0.075, valid for two years. This is part of an ongoing financing initiative initially announced in November 2023.

The company also plans to settle debts worth approximately $450,000 with certain creditors, issuing them units at $0.05 each. This debt includes $350,000 owed to both current and former directors and officers. Both the offering and debt conversion are set to be completed in tranches, starting by November 15, 2024.

GreenBank will apply related party transaction exemptions in accordance with Multilateral Instrument 61-101, avoiding a material change report to expedite the process.