Update Concerning Investee Company Staminier Ltd. Private Placement, Debt Conversion, and Resignation of Officer

REYKJAVIK, ICELAND / ACCESSWIRE / November 15, 2023 / GreenBank Capital Inc. (CSE:GBC)(OTC PINK:GRNBF)(FRA:2TL) ("GreenBank" or the "Company") is pleased to announce that Staminier Ltd. ("Staminier") has today signed a Head of Terms initiating the sale of The Substantia Group Limited ("The Substantia Group") to its previous owner. The Company is also pleased to announce a new non-brokered private placement offering raising up to $C1.25 million and a proposed debt conversion approximately to C$700.000 in Company debt.

Staminier signs Head of Terms with Substantia Acquisitions and seeks extension of Convertible Debt.

Staminier Ltd, in which the Company holds a 48.5% stake, has on the 15^th November 2023 signed Heads of Terms ("HoT") with Substantia Acquisitions Ltd. ("Substantia") to sell The Substantia Group back to Substantia, its prior owner for total consideration of $1.027.399.

The HoT, which reflects Staminier's strategic priorities and commitment to enhancing shareholder value, contemplates:

• The transfer by the buyer to Staminier of 18,847,970 shares at $0.05 total of $942.399 in Greenbank Capital, Inc. (GBC).
• The transfer by the buyer to Staminier 1,000,000 shares at $0.085 total of $85.000 in Ubique Minerals Ltd (UBQ), a Canadian Securities Exchange-listed entity.
• The parties aim to execute the Share Sale Agreement (SSA) within 30 days.

The execution of the HoT is the first step in completing the sale of The Substantia Group and aimed at consolidating Staminier's position and focusing its core business strategy. The HoT are conditional upon achieving a definitive binding agreement, customary regulatory approvals and, if determined to be necessary, the consent of Staminier's lenders.

Staminier has also confirmed that it has informed the Future Fund (operated by the British Business Bank) that it plans to request an extension of the Convertible Loan Agreement (the "CLA") with the Future Fund, the Company, and another lender, as is permitted under the existing loan agreement. Such an extension is conditional on, amongst other things, the agreement of the Future Fund. Staminier's management has indicated that if the extension can be obtained it will be committed to diligently pursuing the conversion of the extended loans into equity during that period. While this outcome is the goal, it will require Staminier to raise a material amount by way of the issue of new equity.