GreenBank Capital Inc (CSE:GBC) said as part of its ongoing strategic review that it has engaged JV Capital to evaluate its current investment portfolio and provide related advice and assistance over the next 12 months.
The strategic review, announced in March 2023, aims to assess the company’s existing and future investment strategy with a view of re-focusing it, Greenbank said in a statement.
JV Capital has been appointed to conduct a comprehensive analysis of Greenbank’s investments, develop actionable recommendations and assist with the implementation, and offer further insights into the optimal strategic direction for Greenbank following the short-term recommendations.
The maximum fee for the engagement is C$75,000 which JV Capital is required to invest in shares of Greenbank, the company said.
JV Capital is also being granted warrants with an exercise price of C$0.05 per share to subscribe for 1.5 million shares, but cannot exercise the warrants for an amount greater than the fees payable under the agreement.
Half of the fee is payable on production of the initial review, with a further 25% after six months and the final 25% after 12 months, with the second and third installments dependent on the company’s share price performance.
GreenBank Capital is a business-transformation firm which aims to nurture early-stage and growth companies to their full potential.
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