Mr. Terry Pullen reports

GREENBANK PORTFOLIO COMPANY STAMINIER ACQUIRES STAKE IN CREATOR OF NEXT-GENERATION EPIC "MMO" GAME IN THE METAVERSE

GreenBank Capital Inc.'s 19-per-cent-owned portfolio company Staminier Ltd. has agreed to purchase potentially up to 21 per cent of Narc Ltd. Narc is the developer of Beyond Ever After, a next-generation massive multiplayer on-line (MMO) game designed for the metaverse.

Narc was founded by one of the key architects of Eve Online, the MMO which sold for $425-million in September, 2018. Beyond Ever After has been under development for several years as an innovative next-generation MMO game. The game involves customizable character types utilizing real money trading in what amounts to a mixed reality model, where real money can be earned and spent in game. The game is in the production phase and is being designed to run on several devices and operating systems to facilitate maximum adoption and ease of use.

The current model calls for Beyond Ever After to be free to play and perpetual in nature, with new in-game content to be added seamlessly and periodically in real time. The game expects to generate revenue principally from transactions that its users elect to make within the game.

Terms of the transaction

Staminier, through its subsidiary Substantia, has agreed to invest an initial 525,000 pounds sterling at 75 euros per Narc share for an initial 2.6-per-cent stake of Narc's fully diluted share capital. Staminier reported to GreenBank that at the time of this news release, 375,000 pounds sterling of these funds have already been paid to Narc, with a remaining 150,000 pounds sterling still to come in the initial investment.

Staminier also has an option to invest a further 4,941,779 pounds sterling at valuations up to 120 euros per Narc share. Were Staminier to independently choose to finance both the initial investment and the secondary investment, Substantia would own 21 per cent of the fully diluted capital of Narc. Substantia has until the beginning of July, 2022, to inform Narc whether it wishes to exercise its option to make the secondary investment, which would be payable by Jan. 31, 2023.

Financing being provided by Staminier, through its wholly owned subsidiary Substantia, will enable Narc to continue the development of its groundbreaking MMO game Beyond Ever After, which is currently in the production phase, following over 10 years of planning, exploration, foundation and preproduction.

About GreenBank Capital Inc.

GreenBank 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. Its 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 COVID-19.

GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the United States. GreenBank invests in undervalued exponential growth companies focused on building consistent capital appreciation for its shareholders.