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I'm Lesley Mapstone for Investmentpitch.com
GreenBank Capital, symbol GBC on the Canadian National Stock Exchange, has launched 2 new
subsidiaries, designed to invest in Bitcoin and Bitcoin startups.
GreenBank believes it is the first public company to establish a presence in Bitcoin.
Bitcoin, a digital cryptocurrency, is created and held electronically.
Bitcoin's most important characteristic, and the thing that makes it different to conventional
money, is that it is decentralized. No single institution controls the bitcoin network.
Bitcoin Canada Investments Inc. will invest exclusively in Bitcoin currency.
The second subsidiary, Bitcoin Angel Capital Inc., will invest in early stage Bitcoin and
other cryptocurrency focused companies.
Danny Wettreich, CEO stated, "I believe that Bitcoin is in the early stages of becoming
a revolutionary payment medium, and GreenBank intends to be actively involved as a Bitcoin
incubator and investor."
To facilitate these new ventures, Mr. Wettreich intends to raise up to $5 million by way of
a private placement of debentures with accredited investors.
These debentures will be convertible into 90% of the common shares of Bitcoin Canada
and Bitcoin Angel.
GreenBank has entered into management agreements with both companies to manage the Bitcoin
investment portfolio for a fee equal to 10% of the portfolio appreciation.
Management plans to ultimately spin off a portion of both these companies to GreenBank
shareholders and apply to list the new entities on the Canadian National Stock Exchange.
GreenBank Capital is in the corporate finance investment business, and in addition to having
a history of listing private companies on the CNSX, also arranges mergers and acquisitions,
investing in the transactions when appropriate.
GreenBank retains a position in the newly listed companies.
GreenBank has approximately 7.1 million shares outstanding, with management holding about
4 million shares.
For a more information, please visit www.GreenBankCapitalInc.com, contact Danny Wettreich, CEO at 647-931-9768
or email dw@GreenBankCapitalInc.com.
I'm Lesley Mapstone for Investmentpitch.com For more video news, and to view our disclaimer,
be sure to visit our website at www.investmentpitch.com This video is for information purposes only
and it not a recommendation to buy or sell any securities.