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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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GreenBank Directors Exercise Options

Toronto, Ontario, July 7, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that effective July 6, 2017 a total of 300,000 incentive stock options were exercised by two directors of the Company for total proceeds of $56,000. There are now 24,665,793 common shares of the Company issued and outstanding. Separately, the Company announces that Ryan Hunter has resigned as a director of the Company with effect from July 6, 2017. The ...

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GreenBank's Affiliate Ubique Minerals Completes Private Placement to Fund Drilling Program

Toronto, Ontario, July 6, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that its affiliate Ubique Minerals Limited (“Ubique”) has completed a $150,000 private placement with Daniel Wettreich, CEO of GreenBank and Chairman of Ubique. Mr Wettreich subscribed for 3,750,000 Ubique common shares at a price of $0.04 per share. The proceeds of the private placement will be used by Ubique to fund a drilling program on its Daniel’s ...

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GreenBank to Distribute Its Software Division

Toronto, Ontario, July 5, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that its board of directors has approved a proposal to distribute to its shareholders its software division, comprising of three companies, XGX Software Inc, Blockchain Evolution Inc, and KYC Technology Inc. At the time of distribution, XGC Software Inc will be the holding company of GreenCoinX which has developed the world’s first cryptocurrency requiring user identification; Blockchain Evolution ...

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GreenBank Added To CSE Composite Index

Toronto, Ontario, June 19, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) ("GreenBank or the Company") announces that, effective after the close of trading on June 16, 2017, the Company has been added to the CSE Composite Index. The CSE Composite Index is comprised of shares of Canadian Securities Exchange (“CSE”) listed companies that meet market capitalization, trading volumes, and certain other criteria established by the CSE, and is a broad indicator of market ...

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Jan
08

Winston Corporate Update

2013  Author:   

 

Toronto, Ontario, January 8, 2013 – Winston Resources Inc. (CNSX: WRW) (“Winston”) provides a corporate update following the listing of its subsidiaries Hadley Mining Inc (CNSX: HM) (“Hadley”), and Zara Resources Inc (CNSX: ZRI) (“Zara”) on the Canadian National Stock Exchange (“CNSX”).

Since its listing on the CNSX, Zara has made two separate acquisitions of properties located in Ontario, commonly known as the Riverbank claims (“Riverbank”) and the Pigeon River claims (“Pigeon River”).

Riverbank

On December 17, 2012 Zara announced the execution of a definitive agreement whereby Zara will acquire 100% of the Riverbank claims owned by Melkior Resources Inc (“Melkior”) for the sum of $68,000. Riverbank is located in the Kasabonika-McFauld’s Greenstone Belt about 540 Ian to the north east of Thunder Bay and 350 Ian north of Geraldton, Ontario. It consists of 8 unpatented mining claims comprising 87 claim units covering an area of approximately 1392 ha. The property is believed to be underlain in part by mafic to ultramafic rocks that potentially could host nickel-copper mineralization.

Zara presently owns an option with Melkior to earn up to a 70% interest in Riverbank and the adjacent Broke Back property by incurring a minimum of $1,600,000 in work expenditures by no later than December 31, 2014. That option will now be negated as Zara will own 100% of Riverbank. Zara has also decided to let the Broke Back claims lapse and focus on exploring the more promising Riverbank claims

The consideration for 100% of Riverbank will be payable by the issuance of 225,000 Common Shares of Zara at a deemed price of $0.10 per share, and 455,000 Non Voting Convertible 5% Preference Shares of Zara at a deemed price of $0.10 per share. The Preference Shares annual yield will be payable in common shares of Zara at the prevailing market price, and are convertible at the discretion of Zara into common shares of Zara at the market price at the time of conversion. Riverbank is also subject to a pre-existing 2% NSR. Closing of the acquisition is subject to various regulatory consents and other items.

Pigeon River

On January 7, 2013 Zara announced the execution of a definitive agreement whereby Zara will acquire 100% of the Pigeon River claims owned by Pele Mountain Resources Inc (“Pele”) for a purchase price of $700,000. Pigeon River is located about 80 kilometers to the west of Thunder Bay in the Pigeon River area of Northwest Ontario, and covers an unexplored magnetic target with potential to host nickel, copper and platinum group elements mineralization.

The purchase price of $700,000 will be payable by the issuance of 2, 250,000 Common Shares of Zara at an issue price of $0.10 per share, and 4,750,000 Non Voting Convertible 5% Preference Shares of Zara at an issue price of $0.1 0 per share. The Preference Share annual yield of 5% will be payable in common shares of Zara at the prevailing market price. The property is also subject to a 2% NSR, of which 0.5% is granted to Pele and 1.5% is granted to 2212150 Ontario Inc operating as Vanex Exploration (“Vanex”). Pele may buy up to 1.0% of the NSR from Vanex for $1,000,000. Closing of the acquisition is subject to standard closing conditions.

Financial Condition

As previously disclosed, Winston’s 100% subsidiary CNRP Mining Inc (“CNRP”) is obligated to make payments to third parties relating to the acquisition by CNRP of the Elmtree property. Payments in the amount of $350,000 were due to be made on December 21,2012. CNRP did not make those payments and commenced negotiations to extend those payments. Such negotiations are ongoing and are as yet unresolved. Also as previously disclosed, Winston is obligated to make a final payment to a third party relating to the acquisition of the Etamame Airborne Survey. Payment in the amount of $30,000 was due on December 28, 2012. Winston did not make that payment and commenced negotiations to extend that payment. Such negotiations are ongoing and are as yet unresolved. During the next twelve months, Winston will need to raise additional equity capital for its working capital and capital expenditure requirements. The ability of Winston to arrange such equity capital depends in part upon the prevailing capital market conditions, and there can be no assurance that it will be successful in its efforts to arrange equity financing on terms it deems satisfactory.

About Winston Resources

Winston is a Toronto based mineral company primarily focused on developing it’s 100% owned Elmtree Gold Project in New Brunswick, Canada, as well as the acquisition and development of other Canadian natural resource properties. Winston also owns a majority interest in Hadley Mining Inc (CNSX: HM) and Zara Resources Inc (CNSX: ZRI).

For more information please see www.WinstonResourceslnc.com or contact Danny Wettreich at (416) 628-9879 or dw@WinstonResourcesInc.com

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 Winston Resources Inc. 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 ofthis press release

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