Greenbank Share Second Quarterly Shareholder Update

The GreenBank Board share a quarterly shareholder update containing the latest information from portfolio companies and from the business internally.

TORONTO, ON / ACCESSWIRE / July 6, 2023 / GreenBank Capital (CSE:GBC)(OTCMKTS:GRNBF)(FRA:2TL) ("GreenBank" or the "Company") are pleased to share the second quarterly shareholder update, covering the period from April to June:

Foreword from CEO, Terry Pullen

Shareholders,

It is my privilege to be able to share with you some recent updates from GreenBank, both internally and externally, regarding our investments and products within our portfolio.

From the beginning of this year, we decided to deliver a quarterly report, to ensure shareholders were updated on the progress of the business regularly. This edition will outlines the latest, including the most recent update on the Strategic Review which we have continued to build internally.

Whilst some of our portfolio companies have performed positively during the period, our core focus has been aligning the Company internally, and the next stage of the Review is outlined below. The CSE remains relatively stagnant, with little movement across the market as a whole, and global inflation has shattered investor confidence. This being said, we retain our position that the GreenBank Capital market capitalisation remains undervalued in the medium-term.

Best regards,

Terry Pullen

Chief Executive Officer

Internal Updates

Strategic Review (Pending completion)

As part of the next stage of the Strategic Review, the Company was pleased to announce on 20 June 2023 that an independent external consultancy, JV Capital (JVC), has been engaged by the Company to provide external input into that Review. The work to be carried out by JVC covers four areas which are as follows: a comprehensive analysis of current investments, developing actionable recommendations, assisting with the implementation of said recommendations and advising on strategy post-implemention.

Details of each area of their work are outlined below.

1. Comprehensive Analysis of Investments: JVC is to conduct an evaluation of the Company's existing investments, including their impact on the Company's market perception. This will include providing a detailed assessment of the debts associated with some of these investments, including those involving Staminier Limited.