GREENBANK AFFILIATE UBIQUE ACQUIRES 23 ADDITIONAL CLAIMS
Toronto, Ontario, October 25, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that its 27% owned affiliate Ubique Minerals Limited (“Ubique”) has acquired an additional 23 claims contiguous to its Daniel’s Harbour zinc property in Newfoundland. Ubique now has 72 claims in Daniel’s Harbour.
Ubique management believes that these new claims are strategically significant as they could potentially contain the extension to the mineralized horizon hosting the high-grade zinc intercepts from the 2017 drilling program. As previously announced, the highlight of the 2017 drilling program was a true width intersection of 13.6% Zinc over 39.9ft including 17.43% Zinc over 28.2 ft.
Ubique owns 72 claims around the former Daniel’s Harbour zinc mine situated approximately 10 km northeast of the town of Daniel’s Harbour on the west coast of Newfoundland. The claims adjacent to Ubique’s claims are primarily owned by Altius Resources Inc, a subsidiary of Altius Minerals Corporation. Approximately 7,000,000 tonnes averaging 7.8% zinc have been mined from the Daniel’s Harbour mine (Wardle, R.J. (2000) Mineral Commodities of Newfoundland and Labrador - Zinc and Lead; Government of Newfoundland and Labrador, Geological Survey, Mineral Commodities Series Number 1, 12).
Roland Crossley P.Geo., is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.
Ubique expresses its appreciation of the financial support offered by the Junior Exploration Assistance Mineral Incentive Program (“JEA”) offered by the Department of Natural Resources, Government of Newfoundland and Labrador, for its Daniel's Harbour drilling program. The JEA objective is to grow the mineral inventory of the province through mineral discoveries.
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and OTCMKTS:GRNBF), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s investment portfolio includes 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 27% of Ubique Minerals Limited, a minerals exploration company with interests in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 14% of Slabdeck Technology Inc, developers of a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication; 15% of Veterans Financial Group LLC, a Ohio, USA based insurance agency providing insurance services to veterans, families and businesses; 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain; 15% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process; and 19% of Inside Bay Street Corporation, a financial news communications company.
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., the raising of additional capital and the future development of the businesses comprising GreenBank’s investment portfolio. 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.
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