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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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Jul
19

Reuters Interviews St. Eugene CEO After Churchill Calls Off Talks

2011  Author:   

Mon, Jul18 2011 – By Bhaswati MUkhopadhyay

July 18 (Reuters) – St. Eugene Mining Corp said private equity firm Churchill Natural Resources Partners terminated talks over the Tartan Lake gold mine, as it did not want to enter into a potential bidding war with St. Eugene’s largest shareholder, Claude Resources.

Last week, Churchill had made a C$4 million offer for the Canadian gold miner’s fully owned Tartan Lake gold mine in Manitoba. St. Eugene’s special committee was reviewing the offer.

Claude, which owns about 9.7 percent of St. Eugene, had made a C$13.6 million offer for the whole company, valuing each St. Eugene share at 12.5 Canadian cents.

“Claude’s presence has caused Churchill to withdraw in order not be part of a bidding war,” said Jennifer Boyle, chief executive of St. Eugene.

Boyle said the next step for the company would be to determine what exactly Claude was interested in — the whole company or just St. Eugene’s 35 percent interest in its other key project, the Amisk gold project in Saskatchewan.

The Amisk project is a 65:35 joint venture between Claude and St. Eugene. It was historically viewed as a high-grade, narrow-vein underground system, according to St. Eugene’s website.
Claude Resources CEO Neil McMillan did not want to comment on Churchill’s announcement when contacted by Reuters.

Dallas, Texas-based Churchill said it was calling off the talks as the St. Eugene management was not prepared to enter into serious discussions that would likely result in a binding agreement.
“In the event that Claude is interested in just our 35 percent interest in the Amisk project, we would be in a much better position to complete a transaction on Tartan and the Churchill group would be ideal for that,” CEO Boyle told Reuters.

Boyle said the Claude offer was lower than the company’s actual valuation.

“We would ask that our shareholders not lock up with Claude with respect to the 12.5 Canadian cents per share valuation.” She said the assets were worth mere than the Claude offer.

”They have come at a time when the whole market is down and .. we are in a deflated period right now,” Boyle said.

Shares of Toronto-based St. Eugene were flat at 12.5 Canadian cents in midday trading on Monday on the Toronto Venture Exchange. Claude shares were flat at C$1.98 on the Toronto Stock Exchange.

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