GreenBank Capital Updates: Private Placement, Filing Delays, and Director Resignation

GreenBank Capital Inc. has completed the first tranche of its private placement, raising $591,419 through the issuance of 16,828,570 units. This includes $166,673 from issuing 8,333,650 units priced at $0.02 each, and a debt settlement amounting to $424,764 with 8,494,920 units at $0.05 each. The units come with warrants exercisable at C$0.075 over a three-year period.

The company anticipates failing to meet the November 28, 2024, filing deadline for its annual financial statements, citing delayed audits due to a corporate transition. Consequently, an Ontario Securities Commission cease trade order is expected.

Additionally, Sir Robert Neill resigned from the board on November 26, 2024, due to personal commitments. The board expressed gratitude for his contributions. Despite the current challenges, GreenBank Capital remains focused on restructuring without pursuing insolvency.