Update on Staminier, Lawsuit and CTO - Seite 2

Cease Trade Order (CTO)

As announced on the 20 November 2023, the company expected to have delays in the filings of its accounts. The company was issued with a cease trade order by the Ontario and British Columbia Securities Commissions and according to Policy 3 of the Canadian Securities Exchange the Company's shares were suspended as of 5^th December 2023. According to Policy 3, the Company had 90 days to rectify the situation or else be delisted without further notice. The Company filed its accounts and relevant disclosures 92 days after the cease trade order was issued and as such was under automatic. Re-application status with the OSC: the Company has filed and paid all fee's due to the late filing and the re-application. The Company has got its first batch of information requests from the OSC and it expects to answer all OSC queries during the coming week. The OSC May ask for further clarification or pose other questions prior to the company cease trade order being lifted.

It is important for shareholders to know that the company shares have ONLY been halted because of failure to file the annual accounts before its deadline 28 November 2023.

For further information, please contact:

Vilhjalmur Thor Vilhjalmsson, CEO and Chairman, GreenBank Capital
Tel: [phone]
Email: [e-mail]

About GreenBank

GreenBank is a business-transformation firm, which aims to nurture early stage and growth companies to their full potential. Through modern approaches to the provisions of consultancy services, GreenBank takes a stake in companies it hopes to nurture and gives the opportunity to the founders and executives of those companies to benefit from the years of collective experience of the GreenBank management team.

The team are based in Reykjavík, London and Toronto and work diligently across borders to ensure that businesses in the GreenBank portfolio reach their core objectives. The businesses the Company typically works with are start-ups or early-stage and include mining and mineral exploration companies. From this emergent state, GreenBank aims to quickly implement strong business practices by, where possible and required, deploying operations, communications, data strategy and financial expertise.