The shares of GreenBank Capital Inc. (OTCMKTS: GRNBF) continued the rally for the 5th consecutive session on Tuesday. The GRNBF stock ended the session +76.41% higher at $0.7247. Last Wednesday, the GreenBank stock began climbing and has gained more than 146% of the value over the week. The news that GreenBank has bought a significant amount of stock in a mining company drove the rally.
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The GreenBank is a cutting-edge merchant bank that sports a flexible overhead structure to maximize profits while being low in cost. GRNBF management is accustomed to working globally, regardless of physical location, through its offices in Toronto, Dallas, New York, London, and San Francisco.
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During and after COVID19, GreenBank enhances its role as a global merchant bank with its model of remote working, dynamic space, and flexible contracts. In its strategic investments, GRNBF focuses on investing in undervalued, exponentially growing companies with the aim of helping its shareholders build consistent capital appreciation.
Last Week, GreenBank Capital announced that it had reached an agreement to purchase an initial 1 million St-Georges Eco-Mining Corp (“SX”) common shares from a large St-Georges shareholder.
- For the SX shares, 1,444,444 Greenbank common shares were subscribed for at a price of C$0.45 apiece as well as 722,222 three-year warrants to buy GreenBank shares at a price of C$0.50 apiece.
- The closing price of the SX share on the 10th March 2021 of C$0.65 is the price per share being paid by GreenBank.
- These transactions will form part of GreenBank’s previously announced non-brokered private placement of C$4.5 million.
- In addition to acquiring St-Georges shares in the initial transaction, GreenBank Capital has the right to acquire additional SX shares as well.
- These 500,000 additional shares of the SX common stock to be made available will be priced at the closing price of SX stock on 30 September 2021, up to a minimum price of C$0.50 per SX common share.
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- These additional shares would be purchased by issuing new GreenBank common shares at the closing price on 30th September 2021 and will be subject to a minimum price of C$0.45.
