GreenBank Amends Material Change Report

June 06, 2014 4:21 PM EDT | Source: GreenBank Capital Inc.

Toronto, Ontario--(Newsfile Corp. - June 6, 2014) - GreenBank Capital Inc (CSE: GBC) ("GreenBank") announces that it has filed an Amended Material Change Report in connection with a review by the Ontario Securities Commission. GreenBank filed a Material Change Report on April 14, 2014 disclosing that it has established a new subsidiary, Canada Marijuana Agricorp Inc ("CMA") which has entered into an agreement to lease 20 acres of suitable land near Tweed, Ontario which it proposes to utilize for the commercial production of medical marijuana, subject to obtaining a medical marijuana producer license under the new Marijuana for Medical Purposes Regulations Health Canada program.

The Amended Material Change Report contains additional disclosures confirming that CMA cannot begin growing or selling medical marijuana until a facility meeting the licensing requirements of Health Canada is constructed, inspected and approved/licenced. It further discloses that the steps involved in applying for a license include the need for an indoor facility equipped with physical barriers which prevent unauthorized entry into the facility and further physical barriers to all growing areas. The perimeter of CMA's site must have visual recording devices capable of recording in a visible manner any attempted or actual unauthorized access. The perimeter of CMA's site must be secured by an intrusion detection system that operates at all times and that allows for the detection of any attempted or actual unauthorized access to or movement in the site or tampering with the system. The system must be monitored at all times by personnel who must determine the appropriate steps to be taken in response to the detection of any occurrence of attempted or actual unauthorized access. If any such occurrence is detected, the personnel must make a record of the date and time of the occurrence, along with a visual monitoring with recording devices, intrusion detection alarm systems and separate air filtration systems. Growing areas within the site must also be visually monitored at all times by visual recording devices to detect illicit conduct. The intrusion detection system must be monitored at all times by personnel who must determine the appropriate steps to be taken in response to the detection of any occurrence of illicit conduct, any attempted or actual unauthorized access to or movement in those areas or tampering with the system. It further discloses that there is significant uncertainty related to the expected time and cost to prepare for a license application as CMA is still too early in its planning process to be in a position to make any such estimates.

About GreenBank

GreenBank is a corporate finance investment business investing in the medical marijuana space, bitcoin startups, and Canadian small cap companies. GreenBank's subsidiary Canada Marijuana Agricorp intends to be a commercial producer of medical marijuana, and GreenBank's subsidiary Bitcoin Angel Capital is seeking to make investments in early stage Bitcoin and other cryptocurrency companies. GreenBank also owns www.MarijuanaForCanada.ca a web based information source for the Canadian medical marijuana industry. For more information please see www.GreenBankCapitalinc.com or contact Danny Wettreich at (647) 931 9768 or dw@GreenBankCapitalinc.com.

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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