Mr. Vilhjalmur Vilhjalmsson reports

REDUCTION OF DIRECTORS' COMPENSATION, INTRODUCTION OF NEW STOCK OPTION PLAN, AND APPOINTMENT OF NEW CFO

GreenBank Capital Inc. has appointed a new chief financial officer, made a reduction in director remuneration and introduced a new share option plan.

Reduction of director compensation and new option plan

The board has agreed to reduce its compensation by $1,000 per month for each director, resulting in annual savings of $60,000.

The previous stock option plan expired on Feb. 22, 2024. The board of directors has approved a new incentive stock option plan involving 6.2 million shares, exercisable at eight cents each and valid for 36 months from the date of grant.

Introduction of new chief financial officer

The company has introduced Harpa Hermannsdottir, MAcc, as the new chief financial officer. A certified accountant, Ms. Hermannsdottir brings over two decades of experience in financial and private sectors, having held senior management positions at international companies such as WoW Air and Kaupthing Bank. She has also served as a part-time lecturer at the University of Iceland. For the past five years, she has independently worked as a chief financial officer for various companies.

Vilhjalmur Thor Vilhjalmsson, chief executive officer and chairman, commented: "GreenBank continues its journey to become a self-sustained investment company by reducing its expenses and aligning the directors and management with the company's future. We are delighted to welcome Mrs. Harpa Hermannsdottir to our team. Her experience and dedication will be invaluable assets for GreenBank."

About GreenBank Capital Inc.

GreenBank is a business transformation firm that aims to nurture early-stage and growth companies to their full potential. Through modern approaches to the provisions of consultancy services, GreenBank takes a stake in companies it hopes to nurture and gives the opportunity to the founders and executives of those companies to benefit from the years of collective experience of the GreenBank management team.

The team are based in Reykjavik, London and Toronto and work diligently across borders to ensure that businesses in the GreenBank portfolio reach their core objectives. The businesses the company typically works with are start-ups or early-stage companies and include mining and mineral exploration companies. From this emergent state, GreenBank aims to quickly implement strong business practices by, where possible and required, deploying operations, communications, data strategy and financial expertise.

Whether a business desires to become a successful private company, list publicly or seek a profitable exit, GreenBank tries to add value at every stage as a strategic partner. GreenBank is listed on the Canadian Securities Exchange, under the symbol GBC, and on the OTC markets (under the symbol GRNBF) as well as the Frankfurt Boerse (under the symbol 2TL).

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