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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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Aug
24

Zara Resources (CNSX:ZRI) Makes Takeover Offer for Three TSX Venture Exchange Companies

2013  Author:   

Published in The Wall Street Journal August 21, 2013, 6:54 p.m. ET
Vancouver, British Columbia, August 21, 2013 – Zara Resources’ CEO, Danny Wettreich, is again taking steps to shake up the management of some of the junior resource companies listed on the TSX Venture Exchange.

InvestmentPitch.com has produced a “video news alert” based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Zara Takeover” in the search box.

This time, Zara Resources, which trades on the Canadian National Stock Exchange under the symbol ZRI, has announced all share offers to acquire 100% of the issued capital of the following three junior resource companies:

Shareholder’s of Visible Gold Mines Inc., (TSXV:VGD), would receive $0.05 per shares payable by 0.4167 shares of Zara for each Visible share. Based on a recent price for Zara of $0.12, and $0.025 for Visible, this is a premium of more than 200%.

Shareholder’s of Greencastle Resources Ltd., (TSXV:VGN), would receive $0.14 per share payable by 1.1667 shares of Zara for each Greencastle share. Based on Greencastle’s recent price of $0.06, this is a premium of 133%.

Shareholder’s of Altai Resources Inc., (TSXV:ATI), would receive $0.17 per share payable by 1.4167 shares of Zara for each Altai share. Based on Altai’s recent price of $0.085, this is a premium of 100%.

Assuming acceptance of the offer, Zara will have approximately 191.3 million shares outstanding, and a market capitalization of $23 million.

The enlarged Zara group of companies will have approximately $13.7 million in net cash and securities, after payment of all current liabilities. It will also have a portfolio of gold, nickel-copper, and oil & gas properties, located across Canada in Quebec, Ontario, British Columbia, Alberta and Saskatchewan, and also in Nevada, USA.

Danny Wettreich stated, “This is a dramatic and innovative simultaneous offer for three public companies, and is designed to offer the shareholders of these companies the opportunity of participating in the creation of a viable natural resource company led by the dynamic, experienced and innovative management team of Zara. I expect annual savings of approximately $1.2 million by putting these companies together.”

According to the Zara announcement, over the last three years, these three targeted companies have seen share price declines ranging from 79% to 96%, while their directors have paid themselves a total of $2.5 million.

In addition, Zara believes that most of these shareholders are underwater, and can therefore establish a tax loss by accepting the takeover offer.

This bold move will undoubtedly have other Boards of Directors rethinking their current strategies.

For more information about Zara, please visit the company’s website at www.ZaraResourcesInc.com, call Danny Wettreich at 647-931-9775 or email dw@ZaraResourcesInc.com.

About InvestmentPitch

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