Mr. Mark Wettreich reports

GREENBANK CAPITAL ANNOUNCES FURTHER EXTENSION OF CALL OPTION TO ACQUIRE THE BALANCE OF STAMINIER LIMITED UNTIL FEBRUARY 14, 2021

GreenBank Capital Inc. has reached an agreement to further extend the expiry period of its call option to acquire the remaining 81 per cent of Staminier Ltd. until Feb. 14, 2021.

As previously disclosed, per the terms of the March 11, 2020, stock purchase agreement between GreenBank Capital, Staminier and the shareholders of Staminier, GreenBank acquired 19 per cent of Staminier, an initial $480,000 financing line loan from Staminier and a call option to acquire the remaining 81 per cent of Staminier with an expiry date of Sept. 11, 2020, subject to GreenBank obtaining formal shareholder approval and fulfilling any necessary regulatory requirements. Subsequently, at the April 8 annual general and special meeting of shareholders, GreenBank received shareholder approval for GreenBank management, at its discretion, to exercise the call option, with 99.9 per cent of the eligible shareholders at the meeting voting in favour.

Subsequently, and as previously announced, GreenBank and Staminier agreed on an extension of the call option until Oct. 26, 2020.

Today's announcement furthers the expiry period of the call option extension until Feb. 14, 2021. GreenBank management is pleased that this extension provides additional time for GreenBank to exercise the call option at its sole discretion and strictly on the basis that any and all necessary regulatory requirements are fulfilled or otherwise accounted for.

About GreenBank Capital Inc.

GreenBank is a merchant banking business listed on the Canadian Securities Exchange. GreenBank's 100-per-cent subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank has a multisector, multistage investment thesis with a global remit. GreenBank's investment approach is to identify companies with the capacity for rapid growth with a strong management team that can be scaled and prepared for a public listing over a period of six to 24 months. GreenBank's portfolio companies comprise equity investments in 11 small-capitalization businesses, namely: 19 per cent of Staminier, a United Kingdom merchant banking firm; 59.5 per cent of Kabaddi Games Inc., a developer of a mobile application game based on the sport of kabaddi; 52.5 per cent of Blockchain Evolution Inc., the owner of the world's first identification-based blockchain and the developer of Xbook, a user-permissioned and revenue-sharing social media platform; 22.3 per cent of Ubique Minerals Ltd., a zinc exploration company in Newfoundland, Canada; 47.5 per cent of GBC Grand Exploration Inc., a gold exploration company in Newfoundland, Canada; 19 per cent of Inside Bay Street Corp., a financial news communications company; 34.8 per cent of Gander Exploration Inc., a mineral exploration company; 10 per cent of Reliable Stock Transfer Inc., a Canadian small-cap transfer agency; 25.2 per cent of Buchans Wileys Exploration Inc., a mineral exploration company; 10 per cent of The Lonsdale Group LLC, a United States-based private equity company focused on small-cap investments; and 8 per cent of Minfocus Exploration Corp., a mineral exploration company.

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