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GreenBank's Affiliate Ubique Minerals Commences Drilling Program

Toronto, Ontario, August 21, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that, following the receipt of all permits, its 28% owned affiliate Ubique Minerals Limited (“Ubique”) has commenced a drilling program on its Daniel’s Harbour zinc property in Newfoundland. A minimum of 6 holes have been scheduled to be drilled, with the possibility of expansion of the program to include additional holes. The primary objectives of the drilling ...

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GreenBank to Acquire 15% of Veterans Financial Group

Toronto, Ontario, August 14, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that GreenBank has agreed to acquire 15% of Veterans Financial Group LLC (“Veterans”), a Portsmouth, Ohio, USA based insurance agency providing insurance services to veterans, families and businesses. GreenBank will pay $57,000 for a 15% interest in Veterans, payable $25,000 in cash and $32,000 by the issuance of 32,000 $1 Non-Voting 5% Preference Shares Series C. ...

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GreenBank Updates Its Merchant Banking Focus and Seeks To Make Further Small-Cap Investments

Toronto, Ontario, August 1, 2017 – GreenBank Capital Inc (CSE:GBC and OTCMKTS:GRNBF ("GreenBank or the Company") announces that it has completed an internal review of its merchant banking activities and reaffirms that its continuing focus will be the further development of its investment portfolio and its merchant banking business. GreenBank is seeking other small-cap investment opportunities, and welcomes approaches from aspiring private companies. During the last six months, and upon the completion of the proposed distribution ...

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GreenBank Signs Letter of Intent to Acquire 14% of Slabdeck

Toronto, Ontario, July 27, 2017 – GreenBank Capital Inc (CSE:GBC and OTCMKTS:GRNBF) ("GreenBank or the Company") announces that it has signed a Letter of Intent (“LOI”) to acquire 14% of Slabdeck Technology Inc (“Slabdeck”), a Canadian company that owns 100% of Slabdeck, a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication. Slabdeck resolves the challenge of having to use numerous apps to find items of interest. The Slabdeck mobile application is ...

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GreenBank Distribution Adjustment

Toronto, Ontario, July 14, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces an adjustment to the ratio of shares comprising the distribution previously announced on July 5, 2017. As a result of the exercise of incentive stock options by directors previously announced on July 7, 2017, the number of issued and outstanding shares of the Company have increased. Accordingly, for every one GreenBank common share on the Record Date ...

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Apr
10

CNRP Mining To List On The CNSX

2012  Author:   



Vancouver, British Columbia CANADA (Filing Services Canada via COMTEX – April 10, 2012) – Gorilla Resources Corp. (GOA – CNSX)(“Gorilla” or the “Company”) is pleased to announce that it has executed a non binding Letter of Intent to conclude a Reverse Take Over (the “RTO”) by acquiring 100% of the issued and outstanding share capital of CNRP MINING Inc (“CNRP”) a private company incorporated in British Columbia, the controlling shareholder of which is Danny Wettreich.

It is a term of the RTO that CNRP acquire from Castle Resources Inc (“Castle”) all rights, title and interest to an option agreement (the “Castle Option Agreement”) executed between Castle and Stratabound Minerals Corp whereby Castle can acquire up to a 70% interest in their 100% owned New Brunswick based Elmtree Gold Property.

A further term of the RTO is that CNRP acquire from Green Swan Capital Corp. (“Green Swan”) the option agreement (the “Green Swan Option Agreement’) executed between Green Swan and Melkior Resources Inc. (“Melkior”) whereby Green Swan can acquire up to a 70% interest in the mining areas commonly known as the RiverBank and Broke Back claims from Melkior. The Claims are in the highly prospective Ring of Fire area, and are located approximately 10 kilometres north of Noront Resources Ltd.’s “Eagle’s Nest’, and 10 kilometers southeast of Cliffs Natural Resources claims.

Prior to the closing of the RTO, Gorilla will spin off to its present shareholders all its interest in certain mining exploration properties in the Yukon (the “Yukon Properties”).

CNRP has agreed to a $500,000 private placement with Danny Wettreich, its CEO, and will seek to complete a further private placement with Euro Pacific Canada to raise $750,000 to coincide with the RTO.

Gorilla will seek shareholder approval for this transaction, including the appointment of a new board of directors headed by Danny Wettreich as Chairman and CEO, and a change of name of the Company to Winston Mining Inc.

Danny Wettreich has more than 38 years of experience in venture capital, private equity, and management of publicly traded companies. He has been Chairman and CEO of Churchill Venture Capital LP a Dallas, Texas private equity business for many years, and is Managing Partner of Churchill Natural Resource Partners, LP, which invests in small cap mining companies. He has been a director of public companies listed on NASDAQ, the American Stock Exchange, the London Stock Exchange, the AIM Market of the London Stock Exchange and the Vancouver Stock Exchange, a predecessor to the TSX Venture Exchange. These public companies have been in diverse businesses in internet technologies, oil and gas, retailing, telecommunications, media and real estate. He has facilitated 12 reverse takeover transactions. He is a graduate of the University of Westminster with a BA in Business.

THE CASTLE TRANSACTION

It is anticipated that CNRP will acquire from Castle the Castle Option Agreement for shares in CNRP, $500,000 in cash, and a 3% Net Smelter Return. The cash will be payable $250,000 on the 6 months anniversary of the RTO and $250,000 on the 12 months anniversary of the RTO. Castle will undertake to dividend all the shares it receives to the shareholders of Castle.

THE GREEN SWAN TRANSACTION

CNRP will seek to acquire a 100% interest in Green Swan’s interest in the claims under the Green Swan Option Agreement, for $300,000 payable by the issuance of shares of CNRP, and some warrants. The warrants would be convertible to 400,000 Gorilla warrants at 50 cents. If Green Swan completes $235,000 of work expenditures on the claims prior to December 14, 2012 it will receive a further $235,000 CNRP shares, calculated at the prevailing market price at the time.

THE GORILLA RTO TRANSACTION

Gorilla has agreed to acquire 100% of CNRP by issuing 38,800,000 common shares of Gorilla at a deemed price of 25 cents per share. The RTO acquisition will be contemporaneous with the CNRP acquisition of the Castle Option Agreement, the CNRP acquisition of the Green Swan Agreement, the $500,000 private placement with Danny Wettreich, and the $750,000 private placement with Euro Pacific. At closing all the liabilities of Gorilla will be paid, including $128,000 of loans from a Director, of which $28,000 will be converted to 112,000 shares of Gorilla at 25 cents per share. Danny Wettreich has also agreed to acquire 8,500,000 shares of Gorilla from certain shareholders. Approximately $50,000 of Gorilla’s expenses for the RTO are to be paid by CNRP in advance, as a non refundable deposit.

Gorilla will transfer its Yukon Properties to two subsidiaries, one subsidiary with the portion of Yukon Properties with gold prospects and one subsidiary with nickel prospect properties (the “Subsidiaries”). Gorilla will conclude a Plan of Arrangement to spin off the Subsidiaries as dividends to the existing shareholders of Gorilla, such Plan of Arrangement to close before the Gorilla acquisition of CNRP. Disbursements for both spin offs, including transfer agent fees, shall be born by the Subsidiaries.

After the RTO, Gorilla will have a total number of shares in issue of 53,844,481, of which Castle will dividend 18,000,000 shares to the shareholders of Castle, and Green Swan will retain 1,200,000 shares.

Closing of the transactions shall be done in accordance with all applicable securities rules.

For further information please contact the Company’s President, Scott Sheldon, at (604) 725.1857or contact@gorillaresources.com or Danny Wettreich, CEO, CNRP MINING INC at (972) 6121400 or dw@churchillnrp.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the expected business and commencement of trading in the common stock of Gorilla Resources Corp. 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 the company 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 the company 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.

The CNSX has not reviewed, approved or disapproved the content of this press release.

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