GreenBank Comments on Bitcoin Price Fluctuations
Toronto, Ontario--(Newsfile Corp. - December 18, 2013) - GreenBank Capital Inc. (CNSX: GBC) ("GreenBank" or "the Company") announces that, as it is the first public company to establish a presence in Bitcoin, it believes it is appropriate to address the recent price fluctuations in Bitcoin price.
"I believe that the price declines of the last few days are largely a reaction to the news that authorities in China are preventing their banking system from dealing with Bitcoin Exchanges. However this works itself out in China, it is not possible to turn the clock back on the Bitcoin phenomenon. The price of Bitcoin will fluctuate based on supply and demand, but Bitcoin is here to stay. As a digital cryptocurrency that is not issued by any government, bank or central organization, I believe it will continue to find increasing acceptance and popularity worldwide," said Danny Wettreich, CEO of GreenBank.
GreenBank's subsidiaries, Bitcoin Canada which will invest exclusively in Bitcoin, and Bitcoin Angel which will invest in early stage Bitcoin and other cryptocurrency focused companies, are currently making a private placement to accredited investors of up to $5,000,000 Debentures. GreenBank believes this will represent a convenient way for investors to gain exposure to Bitcoin and to a diversified portfolio of early stage Bitcoin and other cryptocurrency companies.
GreenBank is a corporate finance investment business focusing on investing in Canadian small cap companies. GreenBank has launched two subsidiaries to invest in Bitcoin and Bitcoin startups, and believes it is the first public company to establish a presence in Bitcoin. GreenBank also facilitates listing private companies on the CNSX, arranges mergers and acquisitions, and invests equity in the transactions as appropriate.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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