GreenBank Capital Inc (CSE:GBC) announced that Staminier Limited, its 19% owned portfolio company, has chosen to stake an initial 233 million of its Freeway Tokens on the Freeway platform and to invest the staking rewards into Freeway's US dollar supercharger.
The next generation merchant banking company said Staminier's 233 million staked Freeway Tokens are currently valued at about C$5.86 million, which is expected to generate approximately C$20,000 per month in revenue.
“Freeway have already made amazing progress in the relatively short time that Staminier have been invested and we are highly confident that this progress will significantly accelerate in the coming months and years,” GreenBank Capital CEO Terry Pullen said in a statement.
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GreenBank noted that Freeway is the pioneering asset management platform developed to help service the needs of institutional, professional and retail investors in the multi-trillion dollar global asset management industry.
Freeway Tokens are traded on crypto currency platforms and have a strictly limited maximum supply of just 10 billion, according to the company.
It added that Staminier has informed GreenBank that it plans to increase the number of its Freeway Tokens that are staked on the Freeway platform and to increase the level of its investment in the various Freeway supercharger products.
Staminier currently holds 384 million Freeway Tokens with a market value of approximately C$10 million, representing an unrealized profit since purchase of about C$8.3 million, GreenBank said.
GreenBank Capital is a next-generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability.
Its management is based in Toronto, Dallas and London and is used to working across borders remotely. The company's model of remote working, dynamic space and flexible contracts - rather than large fixed costs - establishes GreenBank as a global merchant bank for the future, both during and after the coronavirus (COVID-19) pandemic.
Contact Sean at sean@proactiveinvestors.com