Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United States
  4. OTC Markets
  5. GreenBank Capital Inc.
  6. News
  7. Summary
    GRNB.F   CA3935762029

GREENBANK CAPITAL INC.

(GRNB.F)
Delayed OTC Markets  -  03:23 2022-12-05 pm EST
0.1155 USD   +3.57%
12/02GreenBank Capital Inc. Reports Earnings Results for the Full Year Ended July 31, 2022
CI
10/03GreenBank Completes Staminier Loan Acquisition
AQ
09/26GreenBank announces new internal Marketing Strategy and starts the first phase of Content Production
AQ
SummaryQuotesChartsNewsCalendarCompanyFinancialsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

GreenBank Capital : Agrees Financing To Complete Investment In Beelivery, The Fast-Growing Online Food Delivery Platform.

09/15/2021 | 11:07am EST

Toronto - GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) ('GreenBank' or 'the Company') GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) is pleased to announce that it has agreed to a GBP1.5m loan facility with Staminier Ltd. in order to complete GreenBank's second tranche investment in Beelivery.

GreenBank has previously announced an agreement to acquire up to 25% of the issued capital of Beelivery.

This second tranche investment will enable Beelivery to accelerate its business strategy as it seeks to gain 450,000 new customers over the next two years.

Beelivery sources its line of products from any grocery outlet local to the customer and unlike most of its competitors Beelivery has more than 90% nationwide coverage in the UK and average delivery times of only 46 minutes. Orders can be placed by customers, and deliveries are carried out by a team of independent drivers, 24/7, 365 days a year.

Beelivery was founded in 2015 and just under GBP8m (C$13.68m) of orders were handled in the last financial year to September 2020 generating a profit at an EBITDA level. Having demonstrated the robustness of its business model Beelivery is using the GreenBank (and UKTV) investments to help rapidly scale the business, with management targeting orders of over GBP370m (C$645m) in the year to end September 2023.

GreenBank has now appointed a director to the board of Beelivery and will work closely with Beelivery to expedite Beelivery's exponential growth plan.

The funding for this second tranche was provided by way of a secured loan from GreenBank portfolio company, Staminier Limited ('Staminier'). GreenBank currently owns 19% of Staminier's shares and has an option to acquire the rest for a consideration consisting of the issue of GreenBank shares. As previously announced, the Company intends to complete that acquisition ('the Acquisition') as soon as possible once it has obtained agreement from certain investors in Staminier and has cleared any regulatory hurdles. The loan to GreenBank was made on the following key terms: The Interest rate is 7.5% p.a., unless the GreenBank Acquisition of Staminier is completed, in which case the interest rate shall be zero.

The loan is repayable to Staminier on the earlier of GreenBank raising more than C$5.2m from the issue of new common shares to investors or on the 31st of December, 2022.

Commenting on the second tranche of the investment into Beelivery, Terry Pullen CEO of GreenBank Capital said: 'Beelivery is an exceptional business with real potential to become best in class in the very fast-growing and global online grocery delivery market. We are delighted to be involved with such an exciting business run by a first-class team and we are very much looking forward to helping them achieve their ambitious goals'.

Chairman and Co-founder of Beelivery Yazan Bin Mohammad said: 'Now more than ever, we have seen that being able to access groceries and household supplies without going to the shops is essential. As other grocery delivery services have struggled to cope with demand, Beelivery has continued to keep delivery times short and fulfilment rates high through its unique crowd-sourced delivery model.'

Lee Parkinson, Co-Founder and CEO of Beelivery, also commented: 'The significant investments from UKTV and GreenBank will allow us to accelerate our growth, continue to increase brand awareness, as well as bring new innovations to our unique offering for our customers. The confidence our consumers have shown over the past 12 months has been excellent, and the feedback around 'reliability' from our corporate partners during the pandemic has also been outstanding. The feedback is testament to our business model and hardworking community of drivers and support staff.'

In unrelated news, GreenBank has learned that as a result of a negotiation, the previously disclosed call option between GreenBank shareholder Zara Wettreich and a Staminier shareholder to purchase a block of shares (as described in GreenBank's July 15, 2020 CSE Listing Statement), has been extended until December 11, 2021.

About GreenBank

GreenBank is a next generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto, Dallas, and London and are used to working across borders remotely. Our model of remote working, dynamic space and flexible contracts -rather than expensive offices, and large fixed costs - establishes GreenBank as a global merchant bank for the future, both during and after COVID19. This was recently recognized by Capital Finance International which gave GreenBank its 2021 Award for the Most Innovative Merchant Bank in Canada.

GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the USA. (Trading symbols CSE: GBC and FRA: 2TL and OTCMKTS: GRNBF). GreenBank invests in undervalued exponential growth companies focused on building consistent capital appreciation for its shareholders.

Contact:

Mark Wettreich

Tel: +1 (214) 202-4353

Email: Mark@GreenBankCapitalinc.com

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about GREENBANK CAPITAL INC.
12/02GreenBank Capital Inc. Reports Earnings Results for the Full Year Ended July 31, 2022
CI
10/03GreenBank Completes Staminier Loan Acquisition
AQ
09/26GreenBank announces new internal Marketing Strategy and starts the first phase of Conte..
AQ
09/26GreenBank completes Acquisition of additional Staminier Shares
AQ
09/16GreenBank Portfolio Company Ubique Minerals acquires 90% of Namibian Mining Company in ..
AQ
08/04GreenBank Capital increases Staminier stake and acquires Staminier Loan
AQ
08/03GreenBank Capital Inc. (OTCPK:GRNB.F) acquired 29.5% stake..
CI
08/01GreenBank Capital Directors Terry Pullen and Steve 0'Carroll Accept Chairman and COO ro..
AQ
07/29GreenBank Capital Creates COO Position; CEO Takes Up Acting Chairman Role
MT
07/29Greenbank Capital Inc. Announces Board Changes
CI
More news
Financials
Sales 2022 0,05 M 0,04 M 0,04 M
Net income 2022 1,00 M 0,74 M 0,74 M
Net Debt 2022 4,30 M 3,17 M 3,17 M
P/E ratio 2022 19,8x
Yield 2022 -
Capitalization 17,1 M 12,6 M 12,6 M
EV / Sales 2021 3 926x
EV / Sales 2022 597x
Nbr of Employees -
Free-Float 96,1%
Chart GREENBANK CAPITAL INC.
Duration : Period :
GreenBank Capital Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Terry Pullen Chairman & Chief Executive Officer
Miles A. Nagamatsu Chief Financial Officer
Steve Carroll Chief Operating Officer & Director
Peter D. Wanner Director
Richard Anthony Delaval Beresford Director
Sector and Competitors
1st jan.Capi. (M$)
GREENBANK CAPITAL INC.-76.72%13
MORGAN STANLEY-6.17%155 843
CHARLES SCHWABB-1.95%153 931
THE GOLDMAN SACHS GROUP, INC.-0.52%132 795
CITIGROUP INC.-21.78%91 497
CITIC SECURITIES COMPANY LIMITED-21.13%39 690