Update Concerning Investee Company Staminier Ltd. Private Placement, Debt Conversion, and Resignation of Officer - Seite 2

Staminier has confirmed to the Company that it is committed to transparency throughout these processes.

The Company is committed to hold it's 48.5% stake in Staminier Ltd.

Private Placement and Debt Conversion.

The company is planning to offer a non-brokered $1,250,000 private placement offering (the "Offering") of 25,000,000 units of the Company (each, a "Unit") at a price of $0.05 per Unit, each Unit being comprised of one common share and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one Greenbank common share at an exercise price of C$0.075 for a term of 2 years from its date of issuance.

The Company also proposes to complete a debt settlement (the "Debt Conversion") with certain of its creditors by issuing them Units having the same terms as those issued in the Offering. The Company anticipates eliminating approximately $700,000 in debt pursuant to the Debt Settlement, including debt owed to its current and past directors and officers and Staminier. This is a part of the restructuring of the Company towards being debt free and an aggressive supporter of its investments. As part of these arrangements, Staminier has signed agreements to settle (in exchange for the issue of Units) $245,000 of debt owed by it to previous CEO, Terry Pullen, and companies owned or controlled by him. Staminier has also agreed not to demand repayment of the balance of the debt owed by GreenBank to it until no sooner than the date on which the convertible debt owed by Staminier to GreenBank under the CLA either becomes payable on demand or is converted into equity. Under the terms of the CLA it is not permissible for the two debts to be set off against each other until the CLA debt becomes repayable.

The Company expects to close the Offering and Debt Conversion in one or more tranches, with the first tranche expected to close on or before 30^th November 2023.

The debt conversions with present and past directors and officers and companies owned or controlled by them will be a related party transaction within the meaning of Multilateral Instrument 61-101. The Company will be relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the offering by insiders will not exceed 25 per cent of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company will not be filing a material change report in respect of the related party transaction at least 21 days before the closing of the Offering and Debt Conversion, a decision which the Company deems reasonable in the circumstances as to be able to avail itself of the proceeds of the Offering in an expeditious manner.